ADVANCED CATEGORIATION EXAM QUESTIONS WITH CORRECT ANSWERS

ADVANCED CATEGORIATION EXAM QUESTIONS WITH CORRECT ANSWERS Which 3 statements regarding sub-accounts are true? - ANS *data appears indented under the parent account on any report *they provide more detail of income and expenses in a simple and straightforward way *you can collapse or expand individual groups of accounts, depending on the chevron direction next to the group Which 2 statements are true regarding Classes in Quick Books Online? - ANS *Class labels can be changed to suit a particular client *the unspecified column on a Profit & loss by class represents transaction that have not had a class specified What lets you set up a unique address, phone number and email address for invoices that are different from the default in Account and Settings? - ANS *Locations !!!!!!!!!!!!You want to customize a profit & loss report to track the profitability of products and services for a specific job or jobs. What are the 2 ways you can customize the Profit & Loss report to do this? - ANS *display columns by product/services *filter for one or more specific customers or sub-customers !!!!!!!!!What are 2 relevant settings related to Projects? - ANS *show items table on expense and purchase forms *track expenses and items by customer !!!!!!!!!!!Which 2 statements are true for Projects in QB online? - ANS *projects can be added to transactions when processing bank feeds *Clients get on-click access for Project profitability, which does not exist in the report center What is the quickest way to do this? - ANS *Open the transaction, and look at the transaction journal from within the more options