Quickbooks Online EXAM 2025
COMPREHENSIVE EXAM QUESTIONS
|FREQUENTLY TESTED QUESTIONS |RECENTLY
TESTING REAL EXAM QUESTIONS|VERIFIED
SOLUTIONS (100% CORRECT)
Save
Terms in this set (183)
What are settings for Bills and expenses, purchase orders and messages
expenses?
1. Show items table on expense and purchase forms
(only in PLUS)
What are the 4 settings for
2. Track expenses and items by customer (only in
bills and expenses under
PLUS)
expense settings
3. Make expenses and items billable (only in PLUS)
4. Default bill payment terms
If the reconciliation was forced, meaning it was saved
Why might you want to
even though the difference was not zero. That causes
undo a reconciliation?
QuickBooks to make an adjustment.
Gear
How do you undo a Reconcile
reconciliation? History by account
Undo
Who can only do a Only accountant users
reconciliation?
,How do I change expense Gear icon. Under your company, select account
settings? settings, select the expenses tab, etc.
What are the settings in Use purchase orders or turn off
expense settings for
purchase orders
What are the settings in Default email message sent with each purchase order
expense settings for
messaged
Enables customers to pay with bank transfers or credit
Quickbooks Online
cards. Customers can pay from emailed invoice, in
Payments
person, or over the phone.
Two plans - one with a monthly fee and a lower rate
What plans are there for per transaction for credit cards and the other has no
QB payments monthly fee with a higher rate per transaction for
credit cards.
Select gear
Navigate to Account and Settings
How to set up QB Select Payments
payments Select Learn More
Select Set up Payments
Answer questions
Can you sign up for QBO Yes
Payments on the mobile
app?
Who should sign up for The business owner - it includes accepting an
QB payments? agreement
, Accounting (first month of fiscal and income tax year,
cash or accrual, closing books)
company type (partnership, LLC)
Chart of Accounts (turn on account numbers also
default accounts for shipping, discounts and billable
expenses)
Categories (class, location)
Automation
Projects (project progress tracking - accountant can't
What are the advanced
reverse but clients can turn off)
settings in QBO?
Time-tracking (add a service field to time sheet which
allows specific tracking/reporting by service item;
make a single-time activity billable to the customer,
show the billing rate to users entering time, specify
first day of work week)
Currency
Other preferences (date and number formats, how to
refer to customers, warning on duplicate checks and
bills)
1. It must be turned on before importing any data
2. You can't change your home currency.
Key points about multi-
3. Once you turn it on, it will add extra fields to the
currency
QBO database
4. It can't be turned off once it's on.
Income
What are the 5 basic types Expense
of accounts for the chart Asset
of accounts? Liability
Equity
What accounts are Accounts receivable and accounts payable
required for bills
What accounts are set up Sales of product income
when inventory is turned Inventory asset
on? Cost of goods sold
COMPREHENSIVE EXAM QUESTIONS
|FREQUENTLY TESTED QUESTIONS |RECENTLY
TESTING REAL EXAM QUESTIONS|VERIFIED
SOLUTIONS (100% CORRECT)
Save
Terms in this set (183)
What are settings for Bills and expenses, purchase orders and messages
expenses?
1. Show items table on expense and purchase forms
(only in PLUS)
What are the 4 settings for
2. Track expenses and items by customer (only in
bills and expenses under
PLUS)
expense settings
3. Make expenses and items billable (only in PLUS)
4. Default bill payment terms
If the reconciliation was forced, meaning it was saved
Why might you want to
even though the difference was not zero. That causes
undo a reconciliation?
QuickBooks to make an adjustment.
Gear
How do you undo a Reconcile
reconciliation? History by account
Undo
Who can only do a Only accountant users
reconciliation?
,How do I change expense Gear icon. Under your company, select account
settings? settings, select the expenses tab, etc.
What are the settings in Use purchase orders or turn off
expense settings for
purchase orders
What are the settings in Default email message sent with each purchase order
expense settings for
messaged
Enables customers to pay with bank transfers or credit
Quickbooks Online
cards. Customers can pay from emailed invoice, in
Payments
person, or over the phone.
Two plans - one with a monthly fee and a lower rate
What plans are there for per transaction for credit cards and the other has no
QB payments monthly fee with a higher rate per transaction for
credit cards.
Select gear
Navigate to Account and Settings
How to set up QB Select Payments
payments Select Learn More
Select Set up Payments
Answer questions
Can you sign up for QBO Yes
Payments on the mobile
app?
Who should sign up for The business owner - it includes accepting an
QB payments? agreement
, Accounting (first month of fiscal and income tax year,
cash or accrual, closing books)
company type (partnership, LLC)
Chart of Accounts (turn on account numbers also
default accounts for shipping, discounts and billable
expenses)
Categories (class, location)
Automation
Projects (project progress tracking - accountant can't
What are the advanced
reverse but clients can turn off)
settings in QBO?
Time-tracking (add a service field to time sheet which
allows specific tracking/reporting by service item;
make a single-time activity billable to the customer,
show the billing rate to users entering time, specify
first day of work week)
Currency
Other preferences (date and number formats, how to
refer to customers, warning on duplicate checks and
bills)
1. It must be turned on before importing any data
2. You can't change your home currency.
Key points about multi-
3. Once you turn it on, it will add extra fields to the
currency
QBO database
4. It can't be turned off once it's on.
Income
What are the 5 basic types Expense
of accounts for the chart Asset
of accounts? Liability
Equity
What accounts are Accounts receivable and accounts payable
required for bills
What accounts are set up Sales of product income
when inventory is turned Inventory asset
on? Cost of goods sold
