QuickBooks Online Test 1 Questions and Correct Solutions 2024

QuickBooks Online Test 1 Questions and Correct Solutions 2024 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. - 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? - 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? - 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. - 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? - Answer -Delayed charges have no effect on a customer's balance. Which of the following statements is true regarding Undeposited Funds in QuickBooks? - 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? - 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? - Answer -Credit MemoWhen you invoice for time and costs, where does QuickBooks get the billable time or costs? - Answer - QuickBooks gets the billable time or costs from billable time entered on timesheets and/or billable costs entered on checks and bills. You're setting up a new customer. How do you tell QuickBooks that this customer's invoices should be due 30 days after they're issued? - Answer -Set the customer's Terms to Net30. How would you enter a transaction that won't be downloaded in which you paid for a service using a debit card? - Answer -Click the Global Create button and select Expense. Fill out the expense and use Debit Card as the payment method. In QuickBooks Online, entering a purchase order for inventory affects which accounts? - Answer -No accounts are affected because purchase orders are non-posting transactions. Which of the following statements is true regarding vendor credit memos? - Answer -Vendor cred