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A collection of questions and answers related to the quickbooks online certification exam. It covers various aspects of quickbooks online, including setting up accounts, managing transactions, customizing reports, and using advanced features. Useful for individuals preparing for the quickbooks online certification exam.
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What happens if you press the "ctrl," "alt," and "?" keys at the same time? โ ~~~Quickbooks displays a list of shortcut keys. You're setting up a new Quickbooks account for a business that just hired you. The company has a list of accounts with opening balances. Where do you enter these balances when setting up the Quickbooks account? โ ~~~You can enter opening balances using a Journal entry or directly entering them into account registers. However, this is not recommended for non-accountants. You can enter open invoices to record the balance owed to you (Accounts Receivable) and open bills to record what you owe (Accounts Payable). You're working in QuickBooks at a coffee shop for a few hours and don't want to share all of your company's financial details with everyone there. How can you fix this? โ ~~~Click the Private mode switch on the home page to prevent sensitive financial information from being displayed in this window. You just set up a new Quickbooks company and your employer needs you to create a chart of accounts. Which is true? โ ~~~Accounts are automatically created based upon your industry type, however you CAN add more accounts later Your employer asks you to update your business contact info. How do you access the company settings to do this? โ ~~~Click the global create menu (+) at the top of the screen and select account and settings.
What does private mode on the home page do? โ ~~~It hides the values displayed for profit and loss, bank accounts, and other sensitive financial information. Which Quickbooks Online groups have access levels that can be applied to regular customer users? โ ~~~All, none, or limited Which of the following is true regarding Quickbooks online?
Your company has 2 departments: Landscaping and a greenhouse. You'd like to see how your business is doing overall and how each department is doing individually. This means you need to tag each transaction as either landscaping, greenhouse, or split both. What is the best way to set this up in quickbooks? โ ~~~Turn on classes and set up the greenhouse and landscaping each as their own class. Your employer asked you to track the service person assigned to each sale. She wants to see their name on the invoice. How can you track the sales person on the sales forms? โ ~~~Navigate to company settings, and in the sales category of settings, create a custom field for sales reps. In Quickbooks Online, entering a purchase order for inventory affects which accounts? โ ~~~No accounts are affected because purchase orders are non-posting transactions. You need to find an invoice, but all you know if the total amount. You can't remember the customer or even what you sold. How can you find the invoice? โ ~~~Press the search icon and search for the specific amount. How do you tract Accounts Payable (A/P) in Quickbooks? โ ~~~1. Enter a bill
โ ~~~In the customize form style window, click the footer tab and type the fine print in the footer text field. Which of the following is a list in Quickbooks Online?
Sally the supplier and Van the vendor want to buy something from you. What list should you add them to in quickbooks? โ ~~~Customer Which of the following transaction types will Quickbooks enter for you? โ ~~~If you delete a customer, vendor, or account that had an open balance, Quickbooks will create an adjusting entry. Which report gives you information on your income and expenses for a specific period? โ ~~~Profit and loss report You notice the memo field on a transaction reads "created by QB online..." why would quickbooks create a transaction for you? โ ~~~You deleted a customer, vendor, or account that had an open balance. Which of the following is NOT true regarding merging entries in lists?
โ ~~~Click save customizations so the report appears under my custom reports. True or false: You can import a report from excel back into quickbooks as long as you exported the report from quickbooks originally. โ ~~~False You need to customize a report the same way every week. To save time, you want quickbooks to remember your customizations. How do you do this? โ ~~~1. When the report is customized, click "save customization"
โ ~~~True Your customer Donna Comeback has gone out of business and you will never sell to her again. What are the steps for removing her from the customers list? โ ~~~1. Click the customer tab
In quickbooks online, entering a purchase order for inventory affects which accounts? โ ~~~No accounts are affected because purchase orders are non-posting transactions Where on the expense form do you indicate which account you are issuing payment from? โ ~~~At the top next to the payee Which of the following statements is true regarding vendor credit memos? โ ~~~Vendor credit memos reduce what you owe the vendor. Where in quickbooks do you find out the status of what you owe to a vendor and when it's due? โ ~~~Accounts payable aging report or vendor balance detail report. You have a customer who isn't sure they want you to do some work they need, but you want to record that they're interested. how do you do that in Quickbooks online? โ ~~~Enter an estimate When should you never delete a check? โ ~~~You printed a check, and the check number has been used What account do you put in the account field at the top of the form? โ ~~~The name you used when you set up your credit card account on the chart of accounts
โ ~~~He's recording sales using the bank deposit screen, journal Entry, or directly into the bank register. These screens don't allow him to enter a product/service, which is required for a sale to appear on a Sales Report. What does the Apps tab do in quickbooks? โ ~~~Use the apps tab to create versions of quickbooks for each user in your company. You can limit the functionality of each app. You mailed a check to pay your monthly rent. The check was lost in the mail and was never cashed. What should you do with the check in quickbooks? โ ~~~Void the check Where in quickbooks can you find out the status of what you owe to a vendor and when it's due? โ ~~~Accounts payable aging report or the vendor balance detail report You invoiced your customer for 5 widgets. Your customer returned 3 of the widgets. what's the best way to handle this transaction in quickbooks? โ ~~~Use a credit memo. on the form enter 3 widgets You used your credit card a week ago, but are not happy with your purchase. you return the goods and the supplier refunds the amount directly to your credit card. If you don't have online banking, how would you record this transaction? โ ~~~click the + icon and select bank deposit. Instead of selecting the bank account, select the credit card account instead. How would you enter a transaction that won't be downloaded in which you paid for a service using a debit card?
โ ~~~Click the + icon and select expense. Fill out the expense and use debit card as the payment method. How would you create an estimate in quickbooks? โ ~~~When a customer requests a bid, quote, or proposal. Your boss asks you to record an order she just placed for some inventory. You haven't received the items yet, and don't owe anything to your vendor at this time. How would you record this in quickbooks? โ ~~~Click the + icon and select Purchase Order. Fill out the form and save the transaction. True or False: To create an invoice you must use a product or service. โ ~~~True. True or False: Products/Services allow you to track your sales in more detail without cluttering your Chart of Accounts or Profit & Loss โ ~~~True. True or False: You can use one product/service to represent different services or goods โ ~~~True What transaction should you enter if a customer returns a damaged product or, in the case of a service, complains so much you decide to offer a refund? โ ~~~Credit memo