QuickBooks certification Exam: 100% Verified Questions & Answers: Updated

you have two customers with the same name. How do you handle this in QuickBooks? (Ans- Use a middle initial or other letter in the display name to make one name different from the other 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. (Ans- 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 Your new employer asks about the menu choices at the top of the screen. Select the statement about the menu that is false. (Ans- You can create your own menus in the Advanced tab of Account and Settings. the company you work for set up 3 services in quick books to record their sales. however, when they run a profit and loss report, all of their sales are reported on one line as services income. they ask you to fix this so the profit and loss displays a separate line for sales of each service. how do you do this? (Ans- open the products and services list and edit each service. change the income account to the one you want sales of that service to appear as on the profit and loss. click the also update this account in historical transactions box if you want old transactions to affect this new account. you invoiced your customer for 5 widgets (inventory parts). your customer returned 3 of the widgets. what's the best way to handle this transaction in QuickBooks? (Ans- use a credit memo. on the form, enter 3 widgets. you have a customer who isn't sure they want to do some work they need, but you want to record that they're interested. how do you do that in QuickBooks Online? (Ans- Enter an estimate in QuickBooks Online, entering a purchase order for inventory affects which accounts? (Ans- No accounts are affected because purchase orders are non-posting transactions. When entering a journal entry, what happens if the debits don't equal the credits? (Ans- QuickBooks will not allow you to record the transaction Which of these reports displays information about your liabilities? (Ans- Balance sheet report