Study with the several resources on Docsity
Earn points by helping other students or get them with a premium plan
Prepare for your exams
Study with the several resources on Docsity
Earn points to download
Earn points by helping other students or get them with a premium plan
Community
Ask the community for help and clear up your study doubts
Discover the best universities in your country according to Docsity users
Free resources
Download our free guides on studying techniques, anxiety management strategies, and thesis advice from Docsity tutors
QUICKBOOKS ONLINE CERTIFICATION EXAM QUESTIONS AND ANSWERS A COMPLETE SOLUTION THAT COVERS 2024/2025 CONTAINS CORRECT 100% VERIFIED ANSWERS BEST RATED A+ FOR PASS
Typology: Exams
1 / 14
One of the major advantages of all subscription levels of QuickBooks Online have over the desktop version is: - CORRECT ANSWERS 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? - CORRECT ANSWERS 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 recommend converting to QuickBooks Online? - CORRECT ANSWERS Online access to client data anytime, anywhere How many regular (not accountant Users) can access a QuickBooks Essential subscription at one time? - CORRECT ANSWERS 3 Under which settings tab do you enable inventory tracking? - CORRECT ANSWERS Sales What type of user can only be added to a QuickBooks Online Plus Company? - CORRECT ANSWERS Reports-only user Which of the following cannot be imported using the import data tool in QuickBooks Online? - CORRECT ANSWERS Employees Which of the following steps are needed to track inventory? - CORRECT ANSWERS Sign up for Quickbooks Online Plus: Go to Account and Settings>Sales>Products and services>Track inventory quantity on hand
Which of the following settings is found in the Expense setting screen of the Company Settings? - CORRECT ANSWERS Specify custom fields for Purchase Orders A non-profit client wants to change the heading for her customers to Donors. Where should she go in QuickBooks Online to change this setting? - CORRECT ANSWERS Gear Icon>Account Settings>Advanced>Other preferences>Customer label For how many consecutive days can you re-import QuickBooks Desktop data into QuickBooks Online form the date the QuickBooks Online Company is created? - CORRECT ANSWERS 180 Which of the following lists can not be accessed from the Left Navigation Pane?
The QuickBooks Online App provides users with a more 'desktop like' experience. What feature does this app have that QuickBooks desktop does not? - CORRECT ANSWERS Ability to tile windows across multiple monitors Where can you find the Transfer function of QuickBooks Online? - CORRECT ANSWERS Quick Create How do you get multiple screens to display over multiple display monitors when working in the QuickBooks Online Apps? - CORRECT ANSWERS Windows menu > Menu items open new windows The Sales Center is found in the _________________________ in QuickBooks Online. - CORRECT ANSWERS Left Navigation Pane Which is not a benefit of using the QuickBooks Online Apps for Mac and Windows? - CORRECT ANSWERS You do not have to be connected to the internet to open your QBO Company Choose the statement that best describes QuickBooks Online's functionality related to sales forms and products and services: - CORRECT ANSWERS Charges to a customer on a sales form post to the account mapped to the product / service item's income account field How do you create a recurring invoice in QuickBooks Online? - CORRECT ANSWERS Start from existing transaction and create a template by clicking Make Recurring
Which of the following are benefits of using the Online Invoicing Portal? - CORRECT ANSWERS Clients can correspond with their customers regarding invoice details What is the difference between an Invoice and a Sales Receipt? - CORRECT ANSWERS A Sales Receipt is meant to record an immediate acceptance of payment while an Invoice represents an expected payment in the future What are posting transactions related to sales? - CORRECT ANSWERS Invoice Receive P ayment Credit m emo Sales r eceipt Refund What are non-posting transactions related to sales? - CORRECT ANSWERS Estimate Delayed charge
Delayed credit When you record a charge to a customer on a sales form, what account does the line item charge post to? - CORRECT ANSWERS The account mapped in the income account field in the sales information section of the product / service item If you do not use sales form or a product/service item, what account does the item charge post to? - CORRECT ANSWERS The income account you selected from the dropdown field How is a Credit Memo different from a Refund Receipt? - CORRECT ANSWERS A Credit Memo affects Accounts Receivable Which of the following is not a feature of Online Invoices? - CORRECT ANSWERS Shows total balance for customer for all open invoices Which of the following can be used for drafting bank accounts (ACH payment) in QuickBooks Online? - CORRECT ANSWERS QuickBooks Payments' Pay Now button on an Online Invoice The Bill screen is best used for which of the following tasks? - CORRECT ANSWERS To record bills to be paid later
You have received a shoebox full of receipts from a customer to enter into QuickBooks Online. They are not sorted in any way, and they include check stubs from different bank accounts, receipts for cash expenditures, and credit card slips from different cards. Of the following options, which is the most efficient way to get them entered into QuickBooks Online? - CORRECT ANSWERS Use the Expense function and specify the bank, cash or credit card account in each transaction What is a benefit of recording expenditures on bills using product / service items instead of accounts? - CORRECT ANSWERS Use of Purchase reports Which of the following transactions can be recorded using the Expense feature? - CORRECT ANSWERS Credit Card Expense Which transactions are non-posting transaction when it comes to purchases? - CORRECT ANSWERS Purchase Order Billable Expenses Which transactions are posting transactions when it comes to purchases? - CORRECT ANSWERS Expense Cash Expense Credit Card Expense Check
Bill Bill Payment(Check or Credit Card) Vendor Credit Credit card sales Sales tax payment Which of the below is NOT an advantage of recording a transaction as a purchase versus an expense? - CORRECT ANSWERS Only transactions posted as a purchase record activity directly to the general ledger and can be found on a Financial Report, such as the Profit & Loss report Which of the following is an important distinction between QuickBooks Online Payroll and Intuit Online Payroll for Accounting Professionals? - CORRECT ANSWERS Payroll is run inside QuickBooks Online with QuickBooks Online Payroll and outside of QuickBooks Online in Intuit Online Payroll for Accounting Professionals Where do you enter time tracking activities in QuickBooks Online? - CORRECT ANSWERS Quick Create Which of the following is a feature of QuickBooks Online Payroll? - CORRECT ANSWERS Pay employees by direct deposit or print paychecks
You wish to start using payroll in QuickBooks Online. What is your first step? - CORRECT ANSWERS Turn on payroll in QuickBooks Online by selecting Employees > Turn on Payroll Your client has an employee who needs a breakdown of all the taxes and deductions withheld from their paycheck year to date. Which common payroll report would you run to find this information? - CORRECT ANSWERS Payroll Details Report Which of the following cannot be initiated using the Quick Create menu? - CORRECT ANSWERS Pay Employees Which is not a file type that can be imported into the Banking Center? - CORRECT ANSWERS .PDF Which of the following can be made Recurring in QuickBooks Online? - CORRECT ANSWERS Journal Entry Which of the following is not a field that can be imported using .CSV files via the import function in the Banking Center? - CORRECT ANSWERS Check Number Which imported Bank Feed transaction will not be included in the Recognized tab? - CORRECT ANSWERS A transaction that has multiple possible matches in QuickBooks If you are using Bank Feeds in QuickBooks Online, what must you do in the Reconcile screen in order to hide transactions you have matched or added in a
subsequent period? - CORRECT ANSWERS Check the box "Hide transactions after statement ending date" All of the following types of transactions can be made recurring, except which of the following? - CORRECT ANSWERS Bill Payment Which is not a way you can access the Reconcile screen in QuickBooks Online? - CORRECT ANSWERS Banking Center > Reconcile Where would you find the Audit Log in the Reports Center? - CORRECT ANSWERS All Reports > Business Overview Your client wants to automatically send reports to their board of directors. How can they set this up? - CORRECT ANSWERS Save reports to Group; edit group/set email schedule Which of the following is an advantage of saving Custom Reports? - CORRECT ANSWERS The ability to add the custom reports to a group and have them automatically emailed Which of the following reports are only available to Accountant users? - CORRECT ANSWERS Adjusting Journal Entries Where can you find a visual representation of some of the company's key financial indicators? - CORRECT ANSWERS Company Snapshot
Stuart would like to find an app that his outside sales reps can enter estimates into because he doesn't want them to have access to QuickBooks Online and his sensitive financial information. Which statement benefit of using Intuit approved apps is Stuart looking to employ? - CORRECT ANSWERS Security/separation of duties Which of the following statements regarding App subscriptions for QuickBooks Online is accurate? - CORRECT ANSWERS To add an app, from QBO, click Apps link on left-side menu, search for app, and try it free How does your client integrate a 3rd party app with your QuickBooks Online account? - CORRECT ANSWERS Apps menu > Find App > Get App Now Which of the following is not an app that is offered by Intuit as an add-on product? - CORRECT ANSWERS QuickBooks Enterprise Solutions The QuickBooks Online __________________ allows developers to connect their apps to QuickBooks and send data back and forth between them. - CORRECT ANSWERS Open API platform How do you log in to QuickBooks Online Accountant? - CORRECT ANSWERS Enter your Intuit ID at qbo.intuit.com Which of the following is information found in the Client Details screen? - CORRECT ANSWERS Current account balances
Which of the following is an accurate statement about the Your Books section in QuickBooks Online Accountant? - CORRECT ANSWERS It is a QBO Plus company What is one option for creating a new QuickBooks Online Accountant firm? - CORRECT ANSWERS Be invited as the accountant user from a QuickBooks Online company Which of the following summary information of activity from clients' QBO companies can be found in the Client list grid in QuickBooks Online Accountant? - CORRECT ANSWERS Close Date Basic access grants which of the following permissions to team users? - CORRECT ANSWERS View-only access to firm information Which of the following lists is the same in both Your Books and QuickBooks Online Accountant? - CORRECT ANSWERS Customers Where do you manage wholesale billing for the QBOA firm? - CORRECT ANSWERS Gear Icon> Your Account You are getting frustrated because you are always changing the dates when you run reports. What can you do to set default dates for reports? - CORRECT ANSWERS Click on the Accountant ToolBox and choose Report Tools You may end up working with a company with a surplus of uncategorized transactions sitting in a Miscellaneous, Ask My Accountant, or Uncategorized expense account. What is the most efficient way to post these transactions to
the proper accounts? - CORRECT ANSWERS Use the Reclassify Transactions tool to move the transactions from the uncategorized account to the proper expense account To import QBO data into ProConnect Tax Online, use the following workflow: - CORRECT ANSWERS Accountant Tools > Trial Balance > View Tax Return What does the Accountant ToolBox allow us to do that our clients cannot do on the Bank Reconciliation screen? - CORRECT ANSWERS Undo bank reconciliations Which of the following tools is not available in the Accountant Toolbox? - CORRECT ANSWERS Exceptions to Closing Date Report The Trial Balance tool in QuickBooks Online is a tool that: - CORRECT ANSWERS Pushes QuickBooks Online data to ProConnect Tax Online for online completion of the federal income tax return When creating journal entries as an accountant user, what can we do that our clients cannot do? - CORRECT ANSWERS Mark the journal entry adjusting Why is setting a closing date and a password strongly recommended? - CORRECT ANSWERS It prevents a client from making changes to a closed period How do you remove duplicate Bank Feed transactions that have not been added to the register? - CORRECT ANSWERS Check the box to the left of the
duplicate transactions in the For Review tab in the Banking Center and then Exclude from the Batch Actions drop down menu Your client has been entering bills into accounts payable, but has been paying them with checks and credit card expenses. What is the best way to fix the duplicate expense entries and close the open Accounts Payable balance? - CORRECT ANSWERS Use the drawer to add the bill to the check or credit card expense Which of the following statements is false about the Opening Balance Equity account? - CORRECT ANSWERS It is only okay to have a balance in the Opening Balance Equity account if it is equal to the prior years retained earnings. Which of the following client user errors might result in the Accounts Payable balance being too high? - CORRECT ANSWERS Your client has multiple users of their QuickBooks Online company file. In the Vendor Center, you notice two or more similar names that refer to the same vendor. Which of the following would you do to clean up the Vendor list? - CORRECT ANSWERS Bills were entered to record an amount due and then the expenses were entered with Write Checks transactions Your client has multiple users of their QuickBooks Online company file. In the Vendor Center, you notice two or more similar names that refer to the same vendor. Which of the following would you do to clean up the Vendor list? - CORRECT ANSWERS Merge the similar vendor names Your client insists that a recently downloaded transaction is already entered into QuickBooks and doesn't understand why there's no match. What might
you suggest to do? - CORRECT ANSWERS Look in the In QuickBooks tab to see if it was matched to the wrong transaction Which of the following would not result in a balance in Opening Balance Equity? - CORRECT ANSWERS When adding an income account, the opening balance field was filled in What may cause income and Accounts Receivable to be overstated? - CORRECT ANSWERS Payments are not being received and deposits are posting to income What steps must you complete to handle a bank feed transaction that belongs to a transaction that has been reconciled using the Reconcile Tool? - CORRECT ANSWERS Select the transaction in the New Transactions tab > Batch actions > Exclude Selected