QuickBooks Online Test 1
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. - ANS1. 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? - ANSYou can only merge names
from the same type.
You have two customers with the same name. How do you handle this in QuickBooks? -
ANSUse 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. - ANS1.
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? - ANSDelayed charges have no effect
on a customer's balance.
Which of the following statements is true regarding Undeposited Funds in QuickBooks? -
ANSUndeposited 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? -
ANSIf 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? - ANSCredit Memo
When you invoice for time and costs, where does QuickBooks get the billable time or costs?
- ANSQuickBooks 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? - ANSSet 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? - ANSClick 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? -
ANSNo accounts are affected because purchase orders are non-posting transactions.
Which of the following statements is true regarding vendor credit memos? - ANSVendor
credit memos reduce what you owe the vendor.
Why would a business choose to enter a bill and then pay the bill later (requiring two steps)
instead of just recording the check or expense when paying the bill (requiring one step)? -
ANSEntering a bill and paying it later allows you to track accounts payable.
Your boss wants to know if there are any overdue bills. What report would you run to give
him this information? - ANSAccounts Payable Aging report
When would you enter a journal entry? - ANSAll of the answers are correct.
What is the purpose of the Audit Log report? - ANSTo track any changes and deletions to
transactions as well as track which user makes the change or deletion
What is the primary reason for setting a Closing Date in QuickBooks? - ANSTo restrict users
from deleting, editing, or adding transactions to a closed period, such as a previous fiscal
year
Your boss wants to know where the business stands overall. On the Balance Sheet, the
company has 100,000 in assets and 30,000 in liabilities. What is the company's equity? -
ANS70,000
If you have a customized report that you use each month, what feature lets you run the
report with updated data each month? - ANSSave customizations
The owner of the business asks you to set up QuickBooks to automatically email him a
specific report on a regular basis (e.g., weekly or monthly). How would you do this? -
ANSRun the report you want to email. Click Save Customizations. Select Reports and go to
My Custom Reports. Select the line of the report on the list and click Edit. Set the email
schedule in this window.
What type of accounts must you have to collapse the Profit and Loss report? -
ANSSubaccounts
You sent a QuickBooks report to excel and made some changes. How do you import the
changes back to QuickBooks? - ANSYou can't import changes in Excel back to QuickBooks.
Which form cannot be customized in QuickBooks? - ANSBill
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. - ANS1. 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? - ANSYou can only merge names
from the same type.
You have two customers with the same name. How do you handle this in QuickBooks? -
ANSUse 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. - ANS1.
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? - ANSDelayed charges have no effect
on a customer's balance.
Which of the following statements is true regarding Undeposited Funds in QuickBooks? -
ANSUndeposited 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? -
ANSIf 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? - ANSCredit Memo
When you invoice for time and costs, where does QuickBooks get the billable time or costs?
- ANSQuickBooks 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? - ANSSet 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? - ANSClick 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? -
ANSNo accounts are affected because purchase orders are non-posting transactions.
Which of the following statements is true regarding vendor credit memos? - ANSVendor
credit memos reduce what you owe the vendor.
Why would a business choose to enter a bill and then pay the bill later (requiring two steps)
instead of just recording the check or expense when paying the bill (requiring one step)? -
ANSEntering a bill and paying it later allows you to track accounts payable.
Your boss wants to know if there are any overdue bills. What report would you run to give
him this information? - ANSAccounts Payable Aging report
When would you enter a journal entry? - ANSAll of the answers are correct.
What is the purpose of the Audit Log report? - ANSTo track any changes and deletions to
transactions as well as track which user makes the change or deletion
What is the primary reason for setting a Closing Date in QuickBooks? - ANSTo restrict users
from deleting, editing, or adding transactions to a closed period, such as a previous fiscal
year
Your boss wants to know where the business stands overall. On the Balance Sheet, the
company has 100,000 in assets and 30,000 in liabilities. What is the company's equity? -
ANS70,000
If you have a customized report that you use each month, what feature lets you run the
report with updated data each month? - ANSSave customizations
The owner of the business asks you to set up QuickBooks to automatically email him a
specific report on a regular basis (e.g., weekly or monthly). How would you do this? -
ANSRun the report you want to email. Click Save Customizations. Select Reports and go to
My Custom Reports. Select the line of the report on the list and click Edit. Set the email
schedule in this window.
What type of accounts must you have to collapse the Profit and Loss report? -
ANSSubaccounts
You sent a QuickBooks report to excel and made some changes. How do you import the
changes back to QuickBooks? - ANSYou can't import changes in Excel back to QuickBooks.
Which form cannot be customized in QuickBooks? - ANSBill
