Quickbooks Online Certification
Client Needs Assessment Process correct answersWho, What, When, and
How
Who? correct answersGet to know who your client is, what they stand for,
what they're aiming for and where they're coming from
What? correct answersEvery business, large or small, has a variety of parts.
You need to find our what they are in order to best discuss QBO
functionality and benefits with them,
When? correct answersHow often do they run reports? What are their
internal and external deadlines? All of your clients will have compliance
requirements for their business even if they don't run payroll or collect
sales tax.
How? correct answersHow can you help? You can dive deeper using the
client checklist, follow the onboarding process, and begin to plan
deliverables and tasks with your client.
New Client Checklist correct answersa handy resource for getting to
know your new clients, gathering the required info to get their account
set up, and discovering what their business needs are in order to best
match them to a subscription level.
NCC: Client Profile correct answersthe basic contact information fro your
client and their business.
NCC: Needs Assessment correct answerslists all the functionality your client
may need from QuickBooks Online, and encourages a better understanding
of their business so that you can best advise on the subscription level they
will need.
NCC: Features and Solutions correct answersdives deeper into the
subscription solutions that will best suit your client. The workflows you
highlight as needs or requirements in the Needs Assessment tab will be
pulled through automatically and displayed in column A. This enables you
to see at a glance which subscription level is likely to be best for your
client's business.
NCC: Mileage correct answersIf your client needs to track mileage, then
collect their vehicle profile information during the requirements gathering
stage. You can do this for each vehicle they need to track mileage for.
NCC: Onboarding Checklist correct answersUse the Onboarding Checklist
to gather any final additional requirements from your client. This will
enable you to set up the appropriate QuickBooks Online subscription
quickly and accurately.
,NCC: Self-Employed Profile correct answersIf, after your consultation, it is
clear the client requires QuickBooks Self-Employed, the QBSE Profile tab has
been designed to ensure you acquire all the additional information you
need from your client in order to set up their subscription, including
whether they have a healthcare plan or a vehicle to take into consideration.
Sales and Accounts Receivable correct answersrelates to the transactions
relevant to their customers. In this section, you'll get a better idea of their
requirements for estimating, invoicing, price levels, and sales-tax
circumstances.
Expenses and Accounts Payable correct answersThis part of the checklist
covers their payment preferences, outstanding loans, petty cash limits, and
reimbursable expenses, among others.
Employees and Payroll correct answersOne of the key areas you'll need to
discuss is whether the company is run solely by the owner or whether your
client has employees (and therefore payroll requirements).
Other expense tracking needs correct answersYour new client may also
have to track other expenses, such as mileage on a vehicle. They may also
want to keep an eye on their income in order to estimate their future
income tax bill.
Ask your client what their current method for keeping track of their taxes
is. If they are self-employed, they may not know that estimating their taxes
is a handy feature of QuickBooks Online Self-Employed.
Other daily operations needs correct answersDoes your client hold stock as
part of the day-to-day running of their business? How do they keep track of
their inventory?
If your client has inventory, they may want to include inventory tracking. If
this is a requirement, you will be able to discuss with them how QuickBooks
Online and/or third- party apps can help with this.
Industry-specific needs correct answersEvery client and every business is
different, depending on their industry. For example, your client may need
QuickBooks Online with third-party apps enabled to track their e-commerce
or web-based sales, manage their logistics, manufacturing, shipping, point of
sale, or many other variables such as their personal billable time.
Specialized application needs correct answersThere is a range of apps
compatible with QuickBooks Online. Your client may benefit from a
specialized app to handle an area of their business. They may even already
use one.
You will be able to use your knowledge of QuickBooks Online features to
spot when a client has a requirement QuickBooks Online can't cater for on
its own. That's where integrated apps come into the picture.
From cloud storage to time-tracking, there's an app for just about
everything.
,Reporting needs correct answersThis section of the New Client Checklist
helps you get a clearer picture of how your client prefers to run their
reports. Which reports work best for them? How often do they run and
analyze their reports?
As an additional feature, if the client has employees, they may wish to add
users to their accounts who have reports-only access. We'll look into that in
more detail later in the course.
Any other requirements correct answersDon't forget to ask your client
whether there is anything else they may need that you haven't yet covered
or asked.
They may already have an accounting solution and wish to convert
their existing account to QuickBooks Online.
Transaction volume correct answersThis section is important because it will
reveal to ProAdvisors the transactional volume and scope of the client's
business. It may, for example, indicate that the client might benefit from a
QuickBooks Online Advanced subscription, if transactions exceed a
threshold of 43,000. This is because QuickBooks Online Advanced offers
accelerated data-entry features.
Industry trends correct answersWhile you need to take the time to
understand each client's specific requirements, there are some common
themes and pain points based on which industry they're in.
These are five common business industry types, and each comes with
its own pain points:
- Professional services
- Contractor/field services
- Retail and e-commerce
- B2B wholesale business
- Nonprofits
IT: Professional services correct answersManaging cash flow is essential
for these types of businesses, because they often incur expenses up front,
before they receive payment.
Time tracking and job costing are essential to ensure the profitability of
any business. This holds especially true for these clients, who must spread
limited resources— including their time—across various jobs.
IT: Contractor/Field Services correct answersThese clients are always out
and about in the field, which means they don't have a lot of time for
bookkeeping. They need solutions that let them stay on top of their books,
wherever their projects take them.
IT: Retail and e-commerce correct answersRetail and e-commerce
businesses are optimized to sell products and deliver exceptional customer
experiences. Sales, payment, and staff management systems must work
closely together to better manage profit and loss.
, Understanding cash flow and balance sheets is necessary to run any
business. It's especially important to retailers and resellers, who must
manage sales and inventory on top of being ready to do taxes when the time
comes.
Managing inventory and avoiding out-of-stock situations are critical to the
success of retail and e-commerce customers.
IT: B2B Wholesale business correct answersWholesale businesses rely on
knowing their inventory at all times. They also need to be able to keep track
of all the logistics that go with shipping orders of all sizes, from sales forms
and invoices to store locations and agreements with shipping companies.
IT: Nonprofit correct answersNonprofit and charitable organizations often
track the expenses of various programs and funds. Donations often have to
be tracked in as well as out when allocated to various branches of the
charity.
QuickBooks Online seeks to help make keeping track of donations, pledges,
and other funds quick and simple.
Migration correct answersThere are three ways to get information into
QuickBooks Online:
- Convert data in existing QuickBooks Desktop software
-Import customers, vendors, charts of accounts, and products and
services lists from Excel
- Enter all data manually
Dan Cheng is another new client. Dan offers a virtual
assistant/professional service, Cheng's Master VA.
He started his business a year ago and grossed $60,000 in that year. Dan
doesn't yet use an accounting solution and has a shoebox full of handwritten
notes and receipts. However, he's excited to set up a solution that will
provide detailed customer breakdown of his sales and customer history.
Based on what you already know of Dan, which of the following Sales and
Accounts Receivable items would you mark with Yes in the Needs
Assessment tab of the checklist? correct answersDan would benefit from
custom invoices, sales receipts, and statements.
Custom invoices might help when he needs to track customers and run
more detailed reports to make sure he's working in the most efficient way
with the customers who generate the most income.
Statements are a great tool for service-based businesses that can generate
information on what services they're providing to customers. Clients can
even use them to tailor their offering so the client gets great value based on
what they can afford.Dan doesn't need Multicurrency, nor sales tax, which
would be an essential requirement for a retailer selling physical products.
Quickbooks Online Subscriptions correct answersSelf-Employed;
Simple Start; Essentials; Plus; Advanced
Client Needs Assessment Process correct answersWho, What, When, and
How
Who? correct answersGet to know who your client is, what they stand for,
what they're aiming for and where they're coming from
What? correct answersEvery business, large or small, has a variety of parts.
You need to find our what they are in order to best discuss QBO
functionality and benefits with them,
When? correct answersHow often do they run reports? What are their
internal and external deadlines? All of your clients will have compliance
requirements for their business even if they don't run payroll or collect
sales tax.
How? correct answersHow can you help? You can dive deeper using the
client checklist, follow the onboarding process, and begin to plan
deliverables and tasks with your client.
New Client Checklist correct answersa handy resource for getting to
know your new clients, gathering the required info to get their account
set up, and discovering what their business needs are in order to best
match them to a subscription level.
NCC: Client Profile correct answersthe basic contact information fro your
client and their business.
NCC: Needs Assessment correct answerslists all the functionality your client
may need from QuickBooks Online, and encourages a better understanding
of their business so that you can best advise on the subscription level they
will need.
NCC: Features and Solutions correct answersdives deeper into the
subscription solutions that will best suit your client. The workflows you
highlight as needs or requirements in the Needs Assessment tab will be
pulled through automatically and displayed in column A. This enables you
to see at a glance which subscription level is likely to be best for your
client's business.
NCC: Mileage correct answersIf your client needs to track mileage, then
collect their vehicle profile information during the requirements gathering
stage. You can do this for each vehicle they need to track mileage for.
NCC: Onboarding Checklist correct answersUse the Onboarding Checklist
to gather any final additional requirements from your client. This will
enable you to set up the appropriate QuickBooks Online subscription
quickly and accurately.
,NCC: Self-Employed Profile correct answersIf, after your consultation, it is
clear the client requires QuickBooks Self-Employed, the QBSE Profile tab has
been designed to ensure you acquire all the additional information you
need from your client in order to set up their subscription, including
whether they have a healthcare plan or a vehicle to take into consideration.
Sales and Accounts Receivable correct answersrelates to the transactions
relevant to their customers. In this section, you'll get a better idea of their
requirements for estimating, invoicing, price levels, and sales-tax
circumstances.
Expenses and Accounts Payable correct answersThis part of the checklist
covers their payment preferences, outstanding loans, petty cash limits, and
reimbursable expenses, among others.
Employees and Payroll correct answersOne of the key areas you'll need to
discuss is whether the company is run solely by the owner or whether your
client has employees (and therefore payroll requirements).
Other expense tracking needs correct answersYour new client may also
have to track other expenses, such as mileage on a vehicle. They may also
want to keep an eye on their income in order to estimate their future
income tax bill.
Ask your client what their current method for keeping track of their taxes
is. If they are self-employed, they may not know that estimating their taxes
is a handy feature of QuickBooks Online Self-Employed.
Other daily operations needs correct answersDoes your client hold stock as
part of the day-to-day running of their business? How do they keep track of
their inventory?
If your client has inventory, they may want to include inventory tracking. If
this is a requirement, you will be able to discuss with them how QuickBooks
Online and/or third- party apps can help with this.
Industry-specific needs correct answersEvery client and every business is
different, depending on their industry. For example, your client may need
QuickBooks Online with third-party apps enabled to track their e-commerce
or web-based sales, manage their logistics, manufacturing, shipping, point of
sale, or many other variables such as their personal billable time.
Specialized application needs correct answersThere is a range of apps
compatible with QuickBooks Online. Your client may benefit from a
specialized app to handle an area of their business. They may even already
use one.
You will be able to use your knowledge of QuickBooks Online features to
spot when a client has a requirement QuickBooks Online can't cater for on
its own. That's where integrated apps come into the picture.
From cloud storage to time-tracking, there's an app for just about
everything.
,Reporting needs correct answersThis section of the New Client Checklist
helps you get a clearer picture of how your client prefers to run their
reports. Which reports work best for them? How often do they run and
analyze their reports?
As an additional feature, if the client has employees, they may wish to add
users to their accounts who have reports-only access. We'll look into that in
more detail later in the course.
Any other requirements correct answersDon't forget to ask your client
whether there is anything else they may need that you haven't yet covered
or asked.
They may already have an accounting solution and wish to convert
their existing account to QuickBooks Online.
Transaction volume correct answersThis section is important because it will
reveal to ProAdvisors the transactional volume and scope of the client's
business. It may, for example, indicate that the client might benefit from a
QuickBooks Online Advanced subscription, if transactions exceed a
threshold of 43,000. This is because QuickBooks Online Advanced offers
accelerated data-entry features.
Industry trends correct answersWhile you need to take the time to
understand each client's specific requirements, there are some common
themes and pain points based on which industry they're in.
These are five common business industry types, and each comes with
its own pain points:
- Professional services
- Contractor/field services
- Retail and e-commerce
- B2B wholesale business
- Nonprofits
IT: Professional services correct answersManaging cash flow is essential
for these types of businesses, because they often incur expenses up front,
before they receive payment.
Time tracking and job costing are essential to ensure the profitability of
any business. This holds especially true for these clients, who must spread
limited resources— including their time—across various jobs.
IT: Contractor/Field Services correct answersThese clients are always out
and about in the field, which means they don't have a lot of time for
bookkeeping. They need solutions that let them stay on top of their books,
wherever their projects take them.
IT: Retail and e-commerce correct answersRetail and e-commerce
businesses are optimized to sell products and deliver exceptional customer
experiences. Sales, payment, and staff management systems must work
closely together to better manage profit and loss.
, Understanding cash flow and balance sheets is necessary to run any
business. It's especially important to retailers and resellers, who must
manage sales and inventory on top of being ready to do taxes when the time
comes.
Managing inventory and avoiding out-of-stock situations are critical to the
success of retail and e-commerce customers.
IT: B2B Wholesale business correct answersWholesale businesses rely on
knowing their inventory at all times. They also need to be able to keep track
of all the logistics that go with shipping orders of all sizes, from sales forms
and invoices to store locations and agreements with shipping companies.
IT: Nonprofit correct answersNonprofit and charitable organizations often
track the expenses of various programs and funds. Donations often have to
be tracked in as well as out when allocated to various branches of the
charity.
QuickBooks Online seeks to help make keeping track of donations, pledges,
and other funds quick and simple.
Migration correct answersThere are three ways to get information into
QuickBooks Online:
- Convert data in existing QuickBooks Desktop software
-Import customers, vendors, charts of accounts, and products and
services lists from Excel
- Enter all data manually
Dan Cheng is another new client. Dan offers a virtual
assistant/professional service, Cheng's Master VA.
He started his business a year ago and grossed $60,000 in that year. Dan
doesn't yet use an accounting solution and has a shoebox full of handwritten
notes and receipts. However, he's excited to set up a solution that will
provide detailed customer breakdown of his sales and customer history.
Based on what you already know of Dan, which of the following Sales and
Accounts Receivable items would you mark with Yes in the Needs
Assessment tab of the checklist? correct answersDan would benefit from
custom invoices, sales receipts, and statements.
Custom invoices might help when he needs to track customers and run
more detailed reports to make sure he's working in the most efficient way
with the customers who generate the most income.
Statements are a great tool for service-based businesses that can generate
information on what services they're providing to customers. Clients can
even use them to tailor their offering so the client gets great value based on
what they can afford.Dan doesn't need Multicurrency, nor sales tax, which
would be an essential requirement for a retailer selling physical products.
Quickbooks Online Subscriptions correct answersSelf-Employed;
Simple Start; Essentials; Plus; Advanced
