QuickBooks Inuit Certification 2nd Try with 100% Correct Answers

QuickBooks Inuit Certification 2nd Try with 100% Correct Answers For which two reasons should you correct your online bank accounts to QuickBooks Online? (Choose 2) - Answer- A) To automatically download and categorize your bank and credit card transactions. C) To help prevent data entry errors In QuickBooks Online, which items should you mark as Billable? - Answer- D) Expenses for which a customer should reimburse you Identify the difference between recording expenses on a bill and on a check Complete the sentences by selecting the correct option from each drop down list. - Answer- A bill debits __E__ and credits __AP__ A check debits __AP__ and credits __BANK___ A vendor currently has payment terms of Net 10. The terms change to Net 15 starting today for all future bills. This is a new term that you have not used before Which two actions must you complete to support this change? (Choose 2) - Answer- B) In the All Lists area, go to the Terms list. Add the term "Net 15" to the list D) Edit the vendor record. In the Terms list, select Net 15 You own a retail clothing store. You are setting up QuickBooks Online for your store You are adding items that you buy or sell to QuickBooks Online Products and Services For each item you buy or sell, indicate whether it is an Inventory item or a Non-inventory item 1) Hangers on which you display shirts 2) Shirts you regularly stock and sell to customers 3) A shirt you order for a specific customer but do not usually sell - Answer- 1) Non- inventory 2) Inventory 3) Non-inventory What information does an Accounts Receivable Aging report present? - Answer- A) Overdue invoices with due dates, days past due, and totals for each customer You are customizing a Profit and Loss report. You need to display two date ranges side by side. Which setting should you configure? Select the correct setting in the answer area. - Answer- "This Year-to-date" For each statement about QuickBooks Online default user types, select True or False 1) Time tracking-only and Reports-only user types do not count toward user limits 2) Standard users can enter timesheets, add users, update company info, or manage subscriptions. 3) The Master Admin user is a permanent user account and its controls cannot be transferred or assigned to a new user. - Answer- 1) True