QuickBooks Online Certification
You spend hours customizing a report to contain all the information you
want. You want to run this report without having to do this customization
again, how would you do that? correct answers1. When the report is
customized to your liking, click "save customizations"
2.Name the report and click "Save"
3.To run the customized report, select Reports from the navigation bar
4.Select the Custom reports tab
5.Click on the name of the report to open it, then select Run report
Can you delete or make inactive something on a list if it has a balance (e.g.
Customer, Vendor, or Stock Product, or Account)? correct answersYes,
QuickBooks will automatically create a transaction to make the balance
zero.
While setting up a QuickBooks Online account, you accidentally entered
the wrong company address. How would you fix this error? correct
answersChange it in Account and Settings window, which you can access
by clicking the Gear icon and select Account and Settings.
If you use QuickBooks Online Plus, how do you charge a customer for
expenses you incurred on a project? correct answersWhen entering the
expense, enter the customer name and select the Billable checkbox.
Which transaction does not affect the customer's balance? correct
answersEstimate Which transactions CANNOT be made recurring? correct
answersDeposit
What do you use Terms for in QuickBooks? correct answersTo
determine when a customer's invoice is due.
Select the statement that's NOT true about using the QuickBooks app on a
mobile device. correct answersYou can do everything (all QuickBooks
functionality) on the app that can do in your regular QuickBooks (using a
browser).
Your Accountant is upset that changes are being made to last year's
numbers. How can you stop this from happening? correct answersIn the
Advanced section of the company settings, set a Closing Date.
Which of the following statements is TRUE regarding products and services?
correct answersWhen you purchase or sell a product, the value of the
purchase or sale flows to the account (and therefore the financial statement)
you selected when you set up the product or service.
, Which is NOT a good reason to enter a General Journal Entry? correct
answersTo avoid using the built-in forms (e.g. checks and invoices)
Put the 2 steps for entering a vendor credit and using it when you pay the
bill in the correct order. correct answers1. Click the Global Create Button,
Plus sign, and select Vendor Credit.
2. Click the Global Create Butto, Plus sign and select Pay Bills.
When should you use the Items Details area (bottom of the screenshot
below) on a bill, check or expense? correct answersTo track sales tax
When you want to send someone a bill for
items When you purchase stock
The Accounts Payable Aging report can help you stay on top of your
business because it lists which of the following? correct answersYou can view
what you owe and when it's due.
What information does QuickBooks NOT ask/need when you create a new
QuickBooks Online account for a company? correct answersThe owner's
name
Which section of the Balance Sheet shows your Accounts Receivable
balance? correct answersAssets
Your Employer wants to see profit in department A separate from department
B. What is the best way to set this up? correct answersTurn on Classes and
set up each department as its own class.
You have a customer who hires you to work on several projects. How do you
keep the sales and expenses for each project separate so you run reports to
see how profitable each project is? correct answersSelect the "Track
separately" checkbox on the invoices for each job.
Which of the following statements about Users is TRUE? correct answersYou
can have as many Reports Only and Time Tracking Only users as you want.
Which of the following could explain why a Profit and Loss shows a profit,
but the business owner does not have any money in the bank? correct
answersThe profit and loss was run on the Accrual Basis instead of the
Cash Basis
To speed up the set up process you can import certain lists into
QuickBooks. Which of the following CAN be imported? correct answersChart
of Accounts, Products and Services, Customers and Vendors
How do you hide all subaccounts on a report? correct answersClick the
Collapse button.
You spend hours customizing a report to contain all the information you
want. You want to run this report without having to do this customization
again, how would you do that? correct answers1. When the report is
customized to your liking, click "save customizations"
2.Name the report and click "Save"
3.To run the customized report, select Reports from the navigation bar
4.Select the Custom reports tab
5.Click on the name of the report to open it, then select Run report
Can you delete or make inactive something on a list if it has a balance (e.g.
Customer, Vendor, or Stock Product, or Account)? correct answersYes,
QuickBooks will automatically create a transaction to make the balance
zero.
While setting up a QuickBooks Online account, you accidentally entered
the wrong company address. How would you fix this error? correct
answersChange it in Account and Settings window, which you can access
by clicking the Gear icon and select Account and Settings.
If you use QuickBooks Online Plus, how do you charge a customer for
expenses you incurred on a project? correct answersWhen entering the
expense, enter the customer name and select the Billable checkbox.
Which transaction does not affect the customer's balance? correct
answersEstimate Which transactions CANNOT be made recurring? correct
answersDeposit
What do you use Terms for in QuickBooks? correct answersTo
determine when a customer's invoice is due.
Select the statement that's NOT true about using the QuickBooks app on a
mobile device. correct answersYou can do everything (all QuickBooks
functionality) on the app that can do in your regular QuickBooks (using a
browser).
Your Accountant is upset that changes are being made to last year's
numbers. How can you stop this from happening? correct answersIn the
Advanced section of the company settings, set a Closing Date.
Which of the following statements is TRUE regarding products and services?
correct answersWhen you purchase or sell a product, the value of the
purchase or sale flows to the account (and therefore the financial statement)
you selected when you set up the product or service.
, Which is NOT a good reason to enter a General Journal Entry? correct
answersTo avoid using the built-in forms (e.g. checks and invoices)
Put the 2 steps for entering a vendor credit and using it when you pay the
bill in the correct order. correct answers1. Click the Global Create Button,
Plus sign, and select Vendor Credit.
2. Click the Global Create Butto, Plus sign and select Pay Bills.
When should you use the Items Details area (bottom of the screenshot
below) on a bill, check or expense? correct answersTo track sales tax
When you want to send someone a bill for
items When you purchase stock
The Accounts Payable Aging report can help you stay on top of your
business because it lists which of the following? correct answersYou can view
what you owe and when it's due.
What information does QuickBooks NOT ask/need when you create a new
QuickBooks Online account for a company? correct answersThe owner's
name
Which section of the Balance Sheet shows your Accounts Receivable
balance? correct answersAssets
Your Employer wants to see profit in department A separate from department
B. What is the best way to set this up? correct answersTurn on Classes and
set up each department as its own class.
You have a customer who hires you to work on several projects. How do you
keep the sales and expenses for each project separate so you run reports to
see how profitable each project is? correct answersSelect the "Track
separately" checkbox on the invoices for each job.
Which of the following statements about Users is TRUE? correct answersYou
can have as many Reports Only and Time Tracking Only users as you want.
Which of the following could explain why a Profit and Loss shows a profit,
but the business owner does not have any money in the bank? correct
answersThe profit and loss was run on the Accrual Basis instead of the
Cash Basis
To speed up the set up process you can import certain lists into
QuickBooks. Which of the following CAN be imported? correct answersChart
of Accounts, Products and Services, Customers and Vendors
How do you hide all subaccounts on a report? correct answersClick the
Collapse button.
