QuickBooks Online Certification Exam: Section 1, Exams of Social Sciences

A series of questions and answers related to the quickbooks online certification exam, focusing on managing inventory, understanding subscriptions, and utilizing apps. It covers topics such as tracking business expenses, sales tax, and client management. The document also highlights the benefits of using apps and wholesale billing in quickbooks online.

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2024/2025

Available from 01/23/2025

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QUICKBOOKS ONLINE CERTIFICATION EXAM-
SECTION 1
*** Managing inventory and avoiding out-of-stock situations is critical to the success of
what type of business, as well as understanding cash flow and balance sheets?,Retail
and e-commerce businesses
*** What subscription focuses on tracking business expenses and mileage? This
subscription allows invoicing, but does not track accounts receivable or sales tax.
Therefore, this subscription might not meet the needs of a growing service product-
based business.,QuickBooks Self-Employed
*** What subscriptions would you suggest to track sales and sales tax?,Simple Start,
Essentials, Plus, and Advanced
All apps are pre-categorized into the tasks they help resolve.,By selecting Browsing
Category, you can filter apps by the problem you are trying to solve.
Apps can be searched for two ways:,using the search box or by category
How do existing users add you as you as their Accountant on QBO?,1. Tell them to go
to My Accountant in the left hand navigational panel
2. Send email
3. Accept invite
4. Sign in using QBO account information
5. Continue
6. The user will be added to your list of clients
How do you add a new client?,1. Go to Client Dashboard in QuickBooks Online
Accountant
2. Select Add Client
3. Enter the business info
How much does the Accountant user pay for wholesale billing?,50% wholesale discount
In the Client Overview Tab under Transaction Volume, what is the latest date you can
see?,up to 30 days
In wholesale billing, who is billed monthly for the subscription of QBO?,the Accountant
One of the most popular time-tracking apps available is,T-Sheets
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QUICKBOOKS ONLINE CERTIFICATION EXAM-

SECTION 1

*** Managing inventory and avoiding out-of-stock situations is critical to the success of what type of business, as well as understanding cash flow and balance sheets?,Retail and e-commerce businesses *** What subscription focuses on tracking business expenses and mileage? This subscription allows invoicing, but does not track accounts receivable or sales tax. Therefore, this subscription might not meet the needs of a growing service product- based business.,QuickBooks Self-Employed *** What subscriptions would you suggest to track sales and sales tax?,Simple Start, Essentials, Plus, and Advanced All apps are pre-categorized into the tasks they help resolve.,By selecting Browsing Category, you can filter apps by the problem you are trying to solve. Apps can be searched for two ways:,using the search box or by category How do existing users add you as you as their Accountant on QBO?,1. Tell them to go to My Accountant in the left hand navigational panel

  1. Send email
  2. Accept invite
  3. Sign in using QBO account information
  4. Continue
  5. The user will be added to your list of clients How do you add a new client?,1. Go to Client Dashboard in QuickBooks Online Accountant
  6. Select Add Client
  7. Enter the business info How much does the Accountant user pay for wholesale billing?,50% wholesale discount In the Client Overview Tab under Transaction Volume, what is the latest date you can see?,up to 30 days In wholesale billing, who is billed monthly for the subscription of QBO?,the Accountant One of the most popular time-tracking apps available is,T-Sheets

The Accountant User and Clients with the Advanced subscription have access to The Client Overview. What are some benefits of the Client Overview?,concise subscription information, recent banking activity stats, and early indications of banking errors The Opening Balance Equity account should always be zero. If you see a balance here, it's mostly likely because an amount was entered in the opening balance field when?,during the creation of a new customer, vendor, balance-sheet account, or inventory product There are several apps that connect a web store to QuickBooks Online. The customer enters the sales information as they place the order on your client's website, then makes their payment via credit card.,The app reads the data the customer entered and pushes the same data into QuickBooks Online, as a sales receipt. All the client has to do is fulfill and ship the order. There is no data entry! To be listed in the Accountant tab or apps.com, the app,must be inspected and approved by Intuit What are five benefits of using apps?,1. Reduce data entry

  1. Solve industry-specific tasks
  2. Streamline workflow processes
  3. Expand business insight
  4. Security and/or separation of duties What are three others advantages of wholesale billing?,bundling expenses, easy tracking, and switch anytime What is a perk of wholesale billing?,The Accountant user decides how the clients will be billed. What is considered the backbone of accounting software?,The Chart of Accounts, including all assets, liabilities, income and expenses What type of business relies on knowing their inventory at all times?,B2B Wholesale businesses What are the five different subscription plans available on QuickBooks Online?,Self- Employed, Simple Start, Essentials, Plus, and Advanced What are the three different ways to get information into QuickBooks Online?,1. Convert data in existing QuickBooks Desktop software
  5. Import customers, vendors, Chart of Accounts, and products and services lists from Excel
  6. Enter all data manually