QuickBooks Certification Exam Study
Guide
Why would you hide or collapse sub accounts on a report? correct
answersTo temporarily hide unnecessary detail and hide parent
accounts
What should you do after you click save & close on a customer credit
memo? correct answersChoose between retained as an available credit,
give a refund or apply to an invoice
Which of the following CAN be memorized in quickbooks? correct
answerscheck
Which is NOT shown on the payroll summary report on quickbooks?
correct answersinformation necessary to complete your state
unemployment tax form
The bank notified you that a customer's check you deposited has bounced.
The customer did not have sufficient funds to cover the check. What should
you do? correct answersRecord a transaction to show the customer owes
you the money and that the checking balance decreased by that same
amount
Suppose you always want all reports to show a specific size and color,how
do you set standard preference in quickbooks so you don't have to
customize each report? correct answersClick the edit menu and select
preferences then click the reports and graphs group to set preferences
Suppose you want to restrict which users can access customer credit card
numbers. How do you do this? correct answersGive the user access to
sales and accounts receivable but do not check the complete credit card
numbers
Which of the following is a possible reason for a bank reconciliation
discrepancy? correct answersThe beginning balance calculated by
quickbooks does not match last months ending balance
which of the following statements is TRUE regarding Undeposited
funds? correct answersIt is an account used to record payments before
you make a deposit
Which accounts are affected when you enter Time in
quickbooks? correct answersAccounts receivable
Workers who require a W2 tax form at the end of the year should be added
to which of the following lists? correct answersEmployee
, If you have customized report that you use each month, which feature lets
you run the correct answersMemorize Report
What is the primary reason for setting a closing date in Quickbooks? correct
answersTo restrict users from deleting, editing or adding transactions to last
year
Your new employee earned an annual salary of $40,000. How do you
enter this into quickbooks? correct answersEnter 40,000 in the payroll
info window
What steps must you complete to use the payroll center to pay payroll
liabilities correct answersset deposit frequencies
Name the section of the balance sheet correct answersAssets, Liabilities,
Equity
When you create a new company file, quickbooks asks for your start date.
What is the best definition of the start date in quickbooks? correct
answersThe day you chose to start recording the finacial records in
quickbooks
Which of the following statements is NOT true regarding entering and paying
bills in quickbooks? correct answersIf you use the enter bills window to
record a bill, do not use the write checks window or check register to pay
that same bill
How do you use a different forms template when creating a new transaction?
(i.e. Invoice) correct answersOpen the form, click the templates drop down
list and select the appropriate form
How do you change the report basis, accrual vs. cash for just one report?
correct answersClick the modify report button on the report and then choose
accrual or cash on the display pad
How would you track customer birth in quickbooks? correct answersAdd a
custom field to the customer list
How do you change text in the header/footer of a report? correct
answersClick the modify report button on the report and the change the
header footer tab
Where can you see a thumbnail sample of each report in quickbooks
along with a description of what the report tells you? correct
answersReport center
What transaction in quickbooks should you use if your customer pays you
when you provide the goods or sevices? correct answersSales receipt
How can you ensure that invoice detail does not appear on a customer
statement? correct answersUncheck the show invoice item detail on
statements box in the create statements window
Guide
Why would you hide or collapse sub accounts on a report? correct
answersTo temporarily hide unnecessary detail and hide parent
accounts
What should you do after you click save & close on a customer credit
memo? correct answersChoose between retained as an available credit,
give a refund or apply to an invoice
Which of the following CAN be memorized in quickbooks? correct
answerscheck
Which is NOT shown on the payroll summary report on quickbooks?
correct answersinformation necessary to complete your state
unemployment tax form
The bank notified you that a customer's check you deposited has bounced.
The customer did not have sufficient funds to cover the check. What should
you do? correct answersRecord a transaction to show the customer owes
you the money and that the checking balance decreased by that same
amount
Suppose you always want all reports to show a specific size and color,how
do you set standard preference in quickbooks so you don't have to
customize each report? correct answersClick the edit menu and select
preferences then click the reports and graphs group to set preferences
Suppose you want to restrict which users can access customer credit card
numbers. How do you do this? correct answersGive the user access to
sales and accounts receivable but do not check the complete credit card
numbers
Which of the following is a possible reason for a bank reconciliation
discrepancy? correct answersThe beginning balance calculated by
quickbooks does not match last months ending balance
which of the following statements is TRUE regarding Undeposited
funds? correct answersIt is an account used to record payments before
you make a deposit
Which accounts are affected when you enter Time in
quickbooks? correct answersAccounts receivable
Workers who require a W2 tax form at the end of the year should be added
to which of the following lists? correct answersEmployee
, If you have customized report that you use each month, which feature lets
you run the correct answersMemorize Report
What is the primary reason for setting a closing date in Quickbooks? correct
answersTo restrict users from deleting, editing or adding transactions to last
year
Your new employee earned an annual salary of $40,000. How do you
enter this into quickbooks? correct answersEnter 40,000 in the payroll
info window
What steps must you complete to use the payroll center to pay payroll
liabilities correct answersset deposit frequencies
Name the section of the balance sheet correct answersAssets, Liabilities,
Equity
When you create a new company file, quickbooks asks for your start date.
What is the best definition of the start date in quickbooks? correct
answersThe day you chose to start recording the finacial records in
quickbooks
Which of the following statements is NOT true regarding entering and paying
bills in quickbooks? correct answersIf you use the enter bills window to
record a bill, do not use the write checks window or check register to pay
that same bill
How do you use a different forms template when creating a new transaction?
(i.e. Invoice) correct answersOpen the form, click the templates drop down
list and select the appropriate form
How do you change the report basis, accrual vs. cash for just one report?
correct answersClick the modify report button on the report and then choose
accrual or cash on the display pad
How would you track customer birth in quickbooks? correct answersAdd a
custom field to the customer list
How do you change text in the header/footer of a report? correct
answersClick the modify report button on the report and the change the
header footer tab
Where can you see a thumbnail sample of each report in quickbooks
along with a description of what the report tells you? correct
answersReport center
What transaction in quickbooks should you use if your customer pays you
when you provide the goods or sevices? correct answersSales receipt
How can you ensure that invoice detail does not appear on a customer
statement? correct answersUncheck the show invoice item detail on
statements box in the create statements window
