QUICKBOOKS ONLINE CERTIFICATION
TEST EXAM STUDY GUIDE QUESTIONS
AND ANSWERS
To speed up the set up process you can import certain lists into QuickBooks. Which of
the following CAN be imported? - Answer-Chart of Accounts, Products and Services,
Customers and Vendors
How do you hide all subaccounts on a report? - Answer-Click the Collapse button.
You entered a check in QuickBooks to record a purchase of office supplies. Later, you
realize this was a credit card purchase. How do you handle this? - Answer-Change the
Check number to CREDIT
You paid an insurance premium online with an electronic fund transfer (EFT). How
would you record this transaction in QuickBooks? - Answer-Click the Global Create
button(+) and select Expense.
Fill out the expense and create/select EFT as the payment method. Save the
transaction.
You were hired to set up QuickBooks for a consulting company. The owner asks you to
set up the chart of accounts for that industry. This is easy because... - Answer-
QuickBooks automatically creates a chart of accounts for you based on the industry.
And you can edit this list later to remove accounts you do not need or add ones that you
do.
Which of the following IS a list in QuickBooks Online? - Answer-Other Names
What limitations does QuickBooks have when it comes to browser access? - Answer-
None of the above.
Your company no longer sells a particular product/service. What is the process for
removing the product or service? - Answer-1. Click the Gear Icon
2. Under Lists, click Products and Services
3. To the right of the product you want to remove, click the drop list and select " Make
Inactive"
You just BOUGHT something from a CUSTOMER. How do you set this customer up as
a VENDOR in QuickBooks? - Answer-Navigate to the Vendors lists and create a new
vendor. In the "Display Name As" field, enter customer's name, but add something
unique, like "(vendor)' at the end of the name
, You are setting up a product or service. What happens if you select the box next to "I
purchase this product/service from a vendor"? - Answer-QuickBooks provides fields so
you can track purchases of that product/service (in addition to sales)
Where should you begin the process of importing lists from Excel to QuickBooks -
Answer-Click the Gear icon
Two customers with unpaid invoices paid you in cash today. Here is the issue. The bank
statement will show just ONE deposit of $1000. However, you received 2 payments of
$500 each. What is the process of recording these payments, so your Bank register
shows ONE deposit of $1000? - Answer-1. Click receive payment next to customer 1
2. Record the payment and deposit the money to "Undeposited Funds"
3. Click receive payment next to customer 2
4. Record the payment and deposit the money to "Undeposited Funds"
5. Click the Plus icon and select Bank Deposit. Select both payments from the list
and save the $1000 deposit
Why would you recommend recording sales with invoices or Sales Receipts instead of
recording the sale with Journal Entry or on the Record Deposit screen? - Answer-- The
sales will appear on sales reports (they don't if you use the "Record Deposit" or Journal
entry screen)
- You can e-mail or print the sale for customers.
- You can run reports that show your sales by product or service
You're tired of using your mouse to record transactions. You decide to start using
shortcuts. How can you see a list of keyboard shortcuts in QuickBooks? - Answer-Hold
down the "CTRL", "ALT", and "?" keys at the same time
What account do you use to record an expense purchased made with your Visa DEBIT
CARD - Answer-Checking/Current
Which transaction can be made recurring? - Answer-- General Journal Entry
- Check
- Expense
Available in the company settings, what are two options for categorizing sales and
expenses into different locations and departments of a business? - Answer-Classes and
Locations
Select the statement that's true about using the QuickBooks app on a mobile device -
Answer--There is a QuickBooks app for Android and Apple (IOS) devices
-You can NOT perform all the functions of QuickBooks on the mobile app.
-The mobile app uses built in functionality of your device (e.g. the camera to take
pictures of receipts or other documents to attach transactions)
TEST EXAM STUDY GUIDE QUESTIONS
AND ANSWERS
To speed up the set up process you can import certain lists into QuickBooks. Which of
the following CAN be imported? - Answer-Chart of Accounts, Products and Services,
Customers and Vendors
How do you hide all subaccounts on a report? - Answer-Click the Collapse button.
You entered a check in QuickBooks to record a purchase of office supplies. Later, you
realize this was a credit card purchase. How do you handle this? - Answer-Change the
Check number to CREDIT
You paid an insurance premium online with an electronic fund transfer (EFT). How
would you record this transaction in QuickBooks? - Answer-Click the Global Create
button(+) and select Expense.
Fill out the expense and create/select EFT as the payment method. Save the
transaction.
You were hired to set up QuickBooks for a consulting company. The owner asks you to
set up the chart of accounts for that industry. This is easy because... - Answer-
QuickBooks automatically creates a chart of accounts for you based on the industry.
And you can edit this list later to remove accounts you do not need or add ones that you
do.
Which of the following IS a list in QuickBooks Online? - Answer-Other Names
What limitations does QuickBooks have when it comes to browser access? - Answer-
None of the above.
Your company no longer sells a particular product/service. What is the process for
removing the product or service? - Answer-1. Click the Gear Icon
2. Under Lists, click Products and Services
3. To the right of the product you want to remove, click the drop list and select " Make
Inactive"
You just BOUGHT something from a CUSTOMER. How do you set this customer up as
a VENDOR in QuickBooks? - Answer-Navigate to the Vendors lists and create a new
vendor. In the "Display Name As" field, enter customer's name, but add something
unique, like "(vendor)' at the end of the name
, You are setting up a product or service. What happens if you select the box next to "I
purchase this product/service from a vendor"? - Answer-QuickBooks provides fields so
you can track purchases of that product/service (in addition to sales)
Where should you begin the process of importing lists from Excel to QuickBooks -
Answer-Click the Gear icon
Two customers with unpaid invoices paid you in cash today. Here is the issue. The bank
statement will show just ONE deposit of $1000. However, you received 2 payments of
$500 each. What is the process of recording these payments, so your Bank register
shows ONE deposit of $1000? - Answer-1. Click receive payment next to customer 1
2. Record the payment and deposit the money to "Undeposited Funds"
3. Click receive payment next to customer 2
4. Record the payment and deposit the money to "Undeposited Funds"
5. Click the Plus icon and select Bank Deposit. Select both payments from the list
and save the $1000 deposit
Why would you recommend recording sales with invoices or Sales Receipts instead of
recording the sale with Journal Entry or on the Record Deposit screen? - Answer-- The
sales will appear on sales reports (they don't if you use the "Record Deposit" or Journal
entry screen)
- You can e-mail or print the sale for customers.
- You can run reports that show your sales by product or service
You're tired of using your mouse to record transactions. You decide to start using
shortcuts. How can you see a list of keyboard shortcuts in QuickBooks? - Answer-Hold
down the "CTRL", "ALT", and "?" keys at the same time
What account do you use to record an expense purchased made with your Visa DEBIT
CARD - Answer-Checking/Current
Which transaction can be made recurring? - Answer-- General Journal Entry
- Check
- Expense
Available in the company settings, what are two options for categorizing sales and
expenses into different locations and departments of a business? - Answer-Classes and
Locations
Select the statement that's true about using the QuickBooks app on a mobile device -
Answer--There is a QuickBooks app for Android and Apple (IOS) devices
-You can NOT perform all the functions of QuickBooks on the mobile app.
-The mobile app uses built in functionality of your device (e.g. the camera to take
pictures of receipts or other documents to attach transactions)
