QuickBooks Online Certification Exam Latest 2025/2026
Test Bank with 500 Actual Exam Questions and Correct
Detailed Answers (Verified Answers) Graded A+
Industry trends - Correct Answer - While you need to take the time to understand each
client's specific requirements, there are some common themes and pain points based
on which industry they're in.
These are five common business industry types, and each comes with its own pain
points:
- Professional services
- Contractor/field services
- Retail and e-commerce
- B2B wholesale business
- Nonprofits
IT: Professional services - Correct Answer - Managing cash flow is essential for these
types of businesses, because they often incur expenses up front, before they receive
payment.
Time tracking and job costing are essential to ensure the profitability of any business.
This holds especially true for these clients, who must spread limited resources—
including their time—across various jobs.
IT: Contractor/Field Services - Correct Answer - These clients are always out and about
in the field, which means they don't have a lot of time for bookkeeping. They need
solutions that let them stay on top of their books, wherever their projects take them.
IT: Retail and e-commerce - Correct Answer - Retail and e-commerce businesses are
optimized to sell products and deliver exceptional customer experiences. Sales,
payment, and staff management systems must work closely together to better manage
profit and loss.
pg. 1
,Understanding cash flow and balance sheets is necessary to run any business. It's
especially important to retailers and resellers, who must manage sales and inventory on
top of being ready to do taxes when the time comes.
Managing inventory and avoiding out-of-stock situations are critical to the success of
retail and e-commerce customers.
IT: B2B Wholesale business - Correct Answer - Wholesale businesses rely on knowing
their inventory at all times. They also need to be able to keep track of all the logistics
that go with shipping orders of all sizes, from sales forms and invoices to store locations
and agreements with shipping companies.
IT: Nonprofit - Correct Answer - Nonprofit and charitable organizations often track the
expenses of various programs and funds. Donations often have to be tracked in as well
as out when allocated to various branches of the charity.
QuickBooks Online seeks to help make keeping track of donations, pledges, and other
funds quick and simple.
Migration - Correct Answer - There are three ways to get information into QuickBooks
Online:
- Convert data in existing QuickBooks Desktop software
- Import customers, vendors, charts of accounts, and products and services lists from
Excel
- Enter all data manually
Dan Cheng is another new client. Dan offers a virtual assistant/professional service,
Cheng's Master VA.
He started his business a year ago and grossed $60,000 in that year. Dan doesn't yet
use an accounting solution and has a shoebox full of handwritten notes and receipts.
However, he's excited to set up a solution that will provide detailed customer breakdown
of his sales and customer history.
Based on what you already know of Dan, which of the following Sales and Accounts
Receivable items would you mark with Yes in the Needs Assessment tab of the
checklist? - Correct Answer - Dan would benefit from custom invoices, sales receipts,
and statements.
pg. 2
,Custom invoices might help when he needs to track customers and run more detailed
reports to make sure he's working in the most efficient way with the customers who
generate the most income.
Statements are a great tool for service-based businesses that can generate information
on what services they're providing to customers. Clients can even use them to tailor
their offering so the client gets great value based on what they can afford.Dan doesn't
need Multicurrency, nor sales tax, which would be an essential requirement for a retailer
selling physical products.
Quickbooks Online Subscriptions - Correct Answer - Self-Employed; Simple Start;
Essentials; Plus; Advanced
QBO Sub: Self-Employed - Correct Answer - - Scheduled C; Cash basis
- 1099 Income & W2
- Separate Business/Personal Accounts
- 1 user & 1 accountant
QBO Sub: Simple Start - Correct Answer - - Sole proprietor or single-owner corporations
- Full general ledger & accounts receiveable
- Multiple sources of income
- 1 user & 2 accountants
QBO Sub: Essentials - Correct Answer - - Growing business
- Manage accounts payable & accounts receivables
- Recurring transactions
- Time-tracking
- Multicurrency
- 3 users & 2 accountants
QBO Sub: Plus - Correct Answer - - Budgets & advanced reports
pg. 3
, - Track multiple revenue streams and/or departments or locations (classes and
locations)
- Track inventory
- Track project profitability
- 5 users & 2 accountants
QBO Sub: Advanced - Correct Answer - - Small reporting (Fathom)
- Unlimited accounts and classes
- Advanced import and batch entry
- Custom user roles
- Dedicated manager and online training
- 25 users & 3 accountants & premium care
Usage Limits - Correct Answer - Each subscription has limits.
QBO Plan Limits: Simple Start - Correct Answer - - 0 classes and locations
- 250 chart of accounts
- 1 billable user
- 2 accountants
- 0 reports-only
- 0 time tracking
QBO Plan Limits: Essentials - Correct Answer - - 0 classes and locations
- 250 charts of accounts
- 3 billable users
- 2 accountants
- 0 reports-only
- No limit time tracking
pg. 4
Test Bank with 500 Actual Exam Questions and Correct
Detailed Answers (Verified Answers) Graded A+
Industry trends - Correct Answer - While you need to take the time to understand each
client's specific requirements, there are some common themes and pain points based
on which industry they're in.
These are five common business industry types, and each comes with its own pain
points:
- Professional services
- Contractor/field services
- Retail and e-commerce
- B2B wholesale business
- Nonprofits
IT: Professional services - Correct Answer - Managing cash flow is essential for these
types of businesses, because they often incur expenses up front, before they receive
payment.
Time tracking and job costing are essential to ensure the profitability of any business.
This holds especially true for these clients, who must spread limited resources—
including their time—across various jobs.
IT: Contractor/Field Services - Correct Answer - These clients are always out and about
in the field, which means they don't have a lot of time for bookkeeping. They need
solutions that let them stay on top of their books, wherever their projects take them.
IT: Retail and e-commerce - Correct Answer - Retail and e-commerce businesses are
optimized to sell products and deliver exceptional customer experiences. Sales,
payment, and staff management systems must work closely together to better manage
profit and loss.
pg. 1
,Understanding cash flow and balance sheets is necessary to run any business. It's
especially important to retailers and resellers, who must manage sales and inventory on
top of being ready to do taxes when the time comes.
Managing inventory and avoiding out-of-stock situations are critical to the success of
retail and e-commerce customers.
IT: B2B Wholesale business - Correct Answer - Wholesale businesses rely on knowing
their inventory at all times. They also need to be able to keep track of all the logistics
that go with shipping orders of all sizes, from sales forms and invoices to store locations
and agreements with shipping companies.
IT: Nonprofit - Correct Answer - Nonprofit and charitable organizations often track the
expenses of various programs and funds. Donations often have to be tracked in as well
as out when allocated to various branches of the charity.
QuickBooks Online seeks to help make keeping track of donations, pledges, and other
funds quick and simple.
Migration - Correct Answer - There are three ways to get information into QuickBooks
Online:
- Convert data in existing QuickBooks Desktop software
- Import customers, vendors, charts of accounts, and products and services lists from
Excel
- Enter all data manually
Dan Cheng is another new client. Dan offers a virtual assistant/professional service,
Cheng's Master VA.
He started his business a year ago and grossed $60,000 in that year. Dan doesn't yet
use an accounting solution and has a shoebox full of handwritten notes and receipts.
However, he's excited to set up a solution that will provide detailed customer breakdown
of his sales and customer history.
Based on what you already know of Dan, which of the following Sales and Accounts
Receivable items would you mark with Yes in the Needs Assessment tab of the
checklist? - Correct Answer - Dan would benefit from custom invoices, sales receipts,
and statements.
pg. 2
,Custom invoices might help when he needs to track customers and run more detailed
reports to make sure he's working in the most efficient way with the customers who
generate the most income.
Statements are a great tool for service-based businesses that can generate information
on what services they're providing to customers. Clients can even use them to tailor
their offering so the client gets great value based on what they can afford.Dan doesn't
need Multicurrency, nor sales tax, which would be an essential requirement for a retailer
selling physical products.
Quickbooks Online Subscriptions - Correct Answer - Self-Employed; Simple Start;
Essentials; Plus; Advanced
QBO Sub: Self-Employed - Correct Answer - - Scheduled C; Cash basis
- 1099 Income & W2
- Separate Business/Personal Accounts
- 1 user & 1 accountant
QBO Sub: Simple Start - Correct Answer - - Sole proprietor or single-owner corporations
- Full general ledger & accounts receiveable
- Multiple sources of income
- 1 user & 2 accountants
QBO Sub: Essentials - Correct Answer - - Growing business
- Manage accounts payable & accounts receivables
- Recurring transactions
- Time-tracking
- Multicurrency
- 3 users & 2 accountants
QBO Sub: Plus - Correct Answer - - Budgets & advanced reports
pg. 3
, - Track multiple revenue streams and/or departments or locations (classes and
locations)
- Track inventory
- Track project profitability
- 5 users & 2 accountants
QBO Sub: Advanced - Correct Answer - - Small reporting (Fathom)
- Unlimited accounts and classes
- Advanced import and batch entry
- Custom user roles
- Dedicated manager and online training
- 25 users & 3 accountants & premium care
Usage Limits - Correct Answer - Each subscription has limits.
QBO Plan Limits: Simple Start - Correct Answer - - 0 classes and locations
- 250 chart of accounts
- 1 billable user
- 2 accountants
- 0 reports-only
- 0 time tracking
QBO Plan Limits: Essentials - Correct Answer - - 0 classes and locations
- 250 charts of accounts
- 3 billable users
- 2 accountants
- 0 reports-only
- No limit time tracking
pg. 4
