QUICKBOOKS CHAPTER #8 TEST EXAM
QUESTIONS AND ANSWERS
Prior paychecks and liability payments - Answer-Omaira is setting up a new QuickBooks
account foe her existing business. What does she need in addition to the employee tax
forms, considering that she's creating an account with an existing business that has
been paying employees for some time?
Payroll Schedules - Answer-Kent likes using QuickBooks for payroll, but he's tired of
having to remind himself to enter the information, work around holidays, and keep
straight how often different employees are paid. What feature can Kent use to automate
the payroll process and reduce his frustration?
Payroll Liabilities - Answer-When you run payroll, you collect taxes and other
deductions and hold them in a .. account
Lock Net Pay - Answer-Josh notices a minor error in an assigned class on on one of the
paychecks he's already distributed to his employees. What feature will prevent him from
altering the wage amount or net pay while he corrects the class on the errant paycheck?
W-3 - Answer-What form summarizes the W-2 information you provide to your
employees and is submitted to the government?
You enter gross wages on the first line and enter all deductions on the second line as a
negative amount - Answer-On the Expense tab, how do you separate wages and
expenses when creating an employee paycheck?
Match each payroll item to its type - Answer-- Sick Salary: Yearly Salary
- Office-Billable Time: Hourly Wage
- Bonus: Addition
- Health Insurance: Deduction
- Medicare Company: Federal Tax
Match each payroll error to its best fix - Answer-- Lost or damaged paycheck: Reprint
and reissue the check using the next check number
- Incorrect pay period dates: Edit the information in the Review Paycheck window
- Employee was overpaid: Correct on the next payroll
- Employee was underpaid: Issue an unscheduled payroll check
- Incorrect paycheck item (not amount): Use Lock Net Pay mode and correct the error
True - Answer-Anything you want included on a paycheck must first be set up as an
item
True - Answer-You edit, delete, and create new employees just as you do for customers
and vendors
QUESTIONS AND ANSWERS
Prior paychecks and liability payments - Answer-Omaira is setting up a new QuickBooks
account foe her existing business. What does she need in addition to the employee tax
forms, considering that she's creating an account with an existing business that has
been paying employees for some time?
Payroll Schedules - Answer-Kent likes using QuickBooks for payroll, but he's tired of
having to remind himself to enter the information, work around holidays, and keep
straight how often different employees are paid. What feature can Kent use to automate
the payroll process and reduce his frustration?
Payroll Liabilities - Answer-When you run payroll, you collect taxes and other
deductions and hold them in a .. account
Lock Net Pay - Answer-Josh notices a minor error in an assigned class on on one of the
paychecks he's already distributed to his employees. What feature will prevent him from
altering the wage amount or net pay while he corrects the class on the errant paycheck?
W-3 - Answer-What form summarizes the W-2 information you provide to your
employees and is submitted to the government?
You enter gross wages on the first line and enter all deductions on the second line as a
negative amount - Answer-On the Expense tab, how do you separate wages and
expenses when creating an employee paycheck?
Match each payroll item to its type - Answer-- Sick Salary: Yearly Salary
- Office-Billable Time: Hourly Wage
- Bonus: Addition
- Health Insurance: Deduction
- Medicare Company: Federal Tax
Match each payroll error to its best fix - Answer-- Lost or damaged paycheck: Reprint
and reissue the check using the next check number
- Incorrect pay period dates: Edit the information in the Review Paycheck window
- Employee was overpaid: Correct on the next payroll
- Employee was underpaid: Issue an unscheduled payroll check
- Incorrect paycheck item (not amount): Use Lock Net Pay mode and correct the error
True - Answer-Anything you want included on a paycheck must first be set up as an
item
True - Answer-You edit, delete, and create new employees just as you do for customers
and vendors
