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QuickBooks Online Certification Exam Questions and Answers 2024

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QuickBooks Online Foundations Vocabulary 100% Correct Verified by Experts Accounts Payable Amounts due to vendors or suppliers for goods or services received that you have not yet paid for Account Receivable the balance of money owed to you for goods received or services delivered but not yet paid by customers Assets Anything of value that can be converted into cash Fixed Asset A long-term tangible piece of property that a firm owns and uses in its operation to generate income. Not...

QuickBooks Online Certification Exam with Complete Solutions From the payday tab you can pay employees and reimbursements to employees: FALSE You can make expenses billable to customers TRUE From the Create new button on the customers tab you can create the following forms except D) Create Bill You can only set up single tax items in Quickbooks Online FALSE An accurate balance sheet gives you a true picture of your company's finances TRUE To add a new customer go to the _______Center...

QuickBooks Exam with Complete Solutions Which of the following statements is true about entering and paying bills in Quickbooks? If you record bills do not use write checks Which of the following statements is true regarding vendor credit memos? vendor credit memos reduce what you owe When should you use the items tab on a bill or check? when you purchase inventory parts. You purchase something with a debit card. Place the following steps below in the order you would perform your de...

QuickBooks Online Advanced - Billable Expenses Test Questions and Answers 100% Solved What are Billable Charges? Billable Expenses Billable Time Delayed Charges How do you turn on the billable expense feature? Accounts and Settings Expenses Check Box Track expenses and items by Customer Select Make Expenses and items billable Select Box Make expenses and items billable Check box Markup with a default Rate Charge Sales Tax

QuickBooks Online Midterm Exam with Complete Solutions The gear icon is where you: Manage users and modify or change company settings The list of accounts and account numbers used to capture and track transactions is known as: Chart of Accounts When you run a report in Quickbooks online you can only print that report: False Once you set up your company settings, you can never change them: False A company's QBO system is updated: Automatically by Intuit

QuickBooks Online Advanced – Inventory Questions and Answers 100% Solved Inventory Management Tracks the Quantity Purchase Costs Sales Revenue Cost of Goods Sold What method of Inventory does it track? First in First Out (FIFO) Which subscription are Inventory features available Plus Advanced Value of an Inventory Item Amount Paid for it What happens when you record the purchase of an inventory item? Inventory Asset Account on the Balance Sheet increases Quantity on Hand Increase

QuickBooks Online Test Questions and Answers 100% Solved What are settings for expenses? Bills and expenses, purchase orders and messages What are the 4 settings for bills and expenses under expense settings 1. Show items table on expense and purchase forms (only in PLUS) 2. Track expenses and items by customer (only in PLUS) 3. Make expenses and items billable (only in PLUS) 4. Default bill payment terms

QuickBooks Online Certification 2024/2025 Exam with Complete Solutions One of the major advantages of all subscription levels of QuickBooks Online have over the desktop version is: All the data is hosted, backed up and secured by Intuit's servers Your client uses QuickBooks Online Simple Start. How many accountant users can your client invite? 2 Your client is moving out of state and wants you to do the monthly accounting in their data file. What would be the best reason to recom

QuickBooks Online Exam with Complete Solutions Can a Profit and Loss show profit when there's no money in the bank? If yes, why? Yes because your customers haven't paid you yet What are the major parts of the Balance Sheet? assets, liabilities, and net worth or equity What part of the balance sheet would Accounts Receivable fall under? assets Should users make journal entries without the help of an accountant?