QuickBooks Online Test 1 Exam Questions with 100% Correct Answers

You need to set up a new user so they can see reports but can do nothing else in QuickBooks. Put the steps for setting up a user who can only see reports in the correct order. Correct Answer 1. Click the Company menu and choose Manage Users. 2. In the Manage Users screen, click New. 3. For User Type, choose Reports Only and click Next. 4. Enter the user's email address and click Next. 5. Click the Reports tab. You've just been hired as a bookkeeper, and the company's QuickBooks is a mess. There are many list entries that are duplicates. You decide to merge list entries to clean up the lists. Which of the following statements is true about merging? Correct Answer You can only merge names from the same type. You have two customers with the same name. How do you handle this in QuickBooks? Correct Answer Use a middle initial or other letter in the display name to make one name different from the other. Your customer, Donna Comeback, has gone out of business and you will never sell to her again. Put the steps for removing her from the customer list in the correct order. Correct Answer 1. Click the Customer tab. 2. Edit the Customer you want to remove (Donna). 3. Click Make Inactive. How do delayed charges affect a customer's balance? Correct Answer Delayed charges have no effect on a customer's balance. Which of the following statements is true regarding Undeposited Funds in QuickBooks? Correct Answer Undeposited Funds is an account used to record payments before you make a deposit. What is one reason to not use a bank deposit or journal entry screen to record sales? Correct Answer If you record sales through the bank deposit or journal entry screen, the sale will not appear on sales reports. What transaction should you enter if a customer returns a damaged product or, in the case of a service, complains so much you decide to offer a refund? Correct Answer Credit Memo When you invoice for time and costs, where does QuickBooks get the billable time or costs? Correct Answer QuickBooks gets the billable time or costs from billable time entered on timesheets and/or billable costs entered on checks and bills.