QUICKBOOKS ONLINE EXAM (UPDATED) QUESTIONS AND ANSWERS

QUICKBOOKS ONLINE EXAM
(UPDATED) QUESTIONS AND ANSWERS
Which list can you import into Quickbooks Online Plus from the import Data screen? -
Answer-C. Products and Services

What are three recurring transaction types in Quickbooks Online? (Choose 3) - Answer-
B) Reminder
C) Scheduled
E) Unscheduled

For which two reasons should you connect your online bank accounts to Quickbooks
Online? (Choose 2) - Answer-A. To ensure that your data remains secure
B. To help prevent data entry errors

You need to record a new transaction from a sales receipt
In which order should you perform the actions?
1) Match the the receipt
2) Select the receipt to make corrections or add missing inforamation
3) Upload an image of the receipt to Quickbooks Online
4) Create a new expense - Answer-3
1
4
2

What is a reason for setting up products or services in Quickbooks Online? - Answer-B)
To automatically message customers when items are in stock.

You want to pass on some of your costs directly to customers in QuickBooks Online.
You are able to assign a customer to a cost, but you cannot mark it as billable. You
need to make costs billable in Quickbooks Online. What should you do? - Answer-C. In
the Account and Settings area, on the Expenses tab, toggle on Make expenses and
items billable.

What are the four types of products and services that can appear on QuickBooks sales
form? - Answer-D. Bundle, Inventory, Non-inventory, and Service

What does the audit log display? - Answer-D. Transactions that affect your company
file, including the time and associated user.

Which two statements describe the difference between recording expenses on checks
and as credit card expenses? (Choose 2) - Answer-A check debits the expense account
and credits the bank.

, A credit card expense debits the expense account and credits the credit card payable

For each statement about the risks and benefits of extending functionally through apps,
select True or False
1) Your QuickBooks Online account includes free use of all App Store apps.
2) The QuickBooks App Store is available directly from QuickBooks Online Plus
3) Apps that are not fully compliant with intuit requirements will not connect to or sync
with your QuickBooks Online company account. - Answer-1) False
2) True
3) True

You pay a bill by using a check. You record that transaction in QuickBooks Online. The
check is damaged before the vendor can deposit it. You write a new check What should
you do with the original check in QuickBooks Online? - Answer-B) Void the check.

For each statement about setting up payment terms for a new customer in Quickbooks
Online, select True or False
1) You can create new payment terms from the New Customers form
2) You must specify payment terms when setting up a new customer
3) If you do not select payment terms for a customer, QuickBooks Online assigns the
default invoice terms. - Answer-1) True
2) true
3) True

You need to determine which vendors charge the most for the goods and services they
provide to your company. Which report should you run? - Answer-A) Expenses by
Vendor

You are creating a new customer record The customer wants to receive their products
at the following address 123 Main Street Seattle, WA 98101 The customer has a credit
card that is connected to the following address 456 Elm street Dallas , TX 75201 -
Answer-123 Main street Seattle, WA 12345- Shipping Address

456 Elm street Dallas, TX 54321- Billing address

For each statement about QuickBooks Payments in QuickBooks Online, select True or
False
1) Quickbooks payment allows you to accept payments directly from customers
2) Quickbooks payment accepts credit cards, debit cards,cash, checks, and ACH bank
transfers.
3)Transaction fees for using Quickbooks payments are changed on a seperate monthly
invoice from Intuit. - Answer-1) True
2) True
3) False