Quickbooks Certification Exam Questions With 100% Correct Answers

Why must you set deposit frequencies for the taxes or deductions your company has to pay (Payroll Liabilities)? - ANSWER -So that Payroll Liabilities show yp in the Pay Taxes & Other Liabilities list in the Payroll Center What are the first two steps to set up payroll in Quickbooks? - ANSWER -1) Sign up for a payroll services; and 2) complete the Payroll Setup Interview What are the 2 main Financial Statements you can run from the "Company and Financial" category of reports? - ANSWER -Balance Sheet. Profit and Loss What are the main sections of the Profit & Loss? - ANSWER -Income, Cost of Goods Sold, and Expenses How do you move columns on a report? - ANSWER -Move your cursors over the column heading, and when it becomes a hand, click and drag the column to the desired position. How do you create a memorized group of reports? - ANSWER -Open the Memorized Report List and then Click Memorized Report New Group What happens if you double-click a diamond on a report column? - ANSWER -None of the above Which of the following reports answers the question "What transactions make up the current balance I owe each Vendor"? - ANSWER -Vendor Balance Detail You sent Quickbooks a report to Excel and made some changes. How do you import the changes back to Quickbooks? - ANSWER -You can't import changes in Excel back to Quickbooks. You've been hired by a company that started in 1911. They've never used QuickBooks. During the Advanced/Detailed Setup, what "State Date" should you use in the EasyStep Interview? - ANSWER -The date you want to begin tracking the company's finances in Quickbooks. Which of the following CANNOT be entered during the setup of a new company (Express Start or Advanced/Detailed Setup) file? - ANSWER -Trial Balance opening balances How do you customize Quickbooks by changing the color scheme and adding or removing icons from the Home page? - ANSWER -Choose Edit Preferences Desktop View ??? - ANSWER -Click the Formatting Tab at the top of the form; then click Customize Data Layout You need to enter the same transaction each month (for example, an insurance payment). How can you automate this process in Quickbooks? - ANSWER -While the transaction is on the screen, choose Edit Memorize check (or the name of the transaction). How do you set up multiple users in QuickBooks Pro or Premier? - ANSWER -Choose Company Set Up Users and Passwords Set Up Users What is the maximum number of names that cab be included on he Names lists in QuickBooks Pro or Premier? - ANSWER -14,500 What keyboard shortcut allows you to see a total for all four names lists? - ANSWER -F2 What do the diamonds mean on certain lists (for example, the diamonds to the left of each Customer: Job)? - ANSWER -You can click on the diamond and move the list entry to a different location on the list.