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QBO Certification Exam Questions and
Answers
Samantha is working through the Client Needs Assessment process. Which 4 areas should she focus on to gather information for her client? (Select all that apply) Who is the client Why did the client start their business What services does the client need How will the client work be completed Which team member will do the work When does the client need their work completed โ ~~~Who is the client When does the client need their work completed What services does the client need How will the client work be completed You have just engaged a new client who has been in business for over a year and using Excel to track her monthly business activity. Which 2 actions can help this client quickly transfer her data into her new QuickBooks Online company?(Select all that apply) Use Upload from file tool in the Banking Center to upload banking activity
Select Transfer under the + New menu Select Migrate Data in the Account and Settings menu Import her data from Excel lists using the Import Data tool โ ~~~Import her data from Excel lists using the Import Data tool Use Upload from file tool in the Banking Center to upload banking activity Liz just completed a Client Needs Assessment and her client confirmed that he will require profitability tracking, and need to create budgets and purchase orders in his accounting solution. What is the minimum QuickBooks Online version suitable for Liz's client? QuickBooks Self-Employed QuickBooks Online Simple Start QuickBooks Online Essentials QuickBooks Online Plus QuickBooks Online Advanced โ ~~~QuickBooks Online Plus Which subscription options, if any, include bank feeds, access from any device at any time, and integration with a wide range of apps? Only QuickBooks Online Plus Only QuickBooks Self-Employed Only QuickBooks Self-Employed and QuickBooks Online Essentials
Below is a series of steps for accepting an invitation from the client to become their accountant user: Open the email account you use for your Intuit ID You will see an invite from the client company Select the Accept button to accept the invitation ________________________ and you'll see a Success! box Select Continue What is the missing step? Create a new username and password for the client company Create a new Intuit ID Enter your QuickBooks Online Accountant sign-in information Sign in to the client's QuickBooks Online company โ ~~~Enter your QuickBooks Online Accountant sign-in information Which 4 sections of the Overview screen can be used to perform a high-level review?(Select all that apply) Company setup Outstanding taxes
Banking activity Common issues Transaction volume Client mileage โ ~~~Outstanding taxes Banking activity Common issues Transaction volume The QuickBooks Online ecosystem gives you and your clients access to a wide range of (1.)__________ to help (2.)___________ their business and increase efficiencies. Which option completes this statement?
- add-ons; 2. reduce overheads for
- apps; 2. streamline
- desktop programs; 2. increase
- lab settings; 2. streamline โ ~~~1. apps; 2. streamline The Work section in QuickBooks Online Accountant is a great starting point for planning your new client engagement. What are the first step(s) in the client onboarding workflow?
Which 4 statements regarding the Chart of Accounts are true?(Select all that apply) To add a new account, open the Chart of Accounts by selecting Accounting from the Left Navigation Bar, then selecting New to open the Account window The Sales of Product Income account is a default account when inventory is turned on Uncategorized Income and Uncategorized Expense are default accounts for online banking activity If you add a new account, the detail type determines which financial statement this account will appear on When you specify a sales price/rate when setting up Products and Services, you link them to the Chart of Accounts You should inactivate an account from the Chart of Accounts if it is not relevant to your business โ ~~~To add a new account, open the Chart of Accounts by selecting Accounting from the Left Navigation Bar, then selecting New to open the Account window Uncategorized Income and Uncategorized Expense are default accounts for online banking activity When you specify a sales price/rate when setting up Products and Services, you link them to the Chart of Accounts You should inactivate an account from the Chart of Accounts if it is not relevant to your business
Where do you enable account numbers for the QuickBooks Online Chart of Accounts? Gear > Account and Settings > Company > Chart of Accounts > Enable Account Numbers Gear > Account and Settings > Advanced > Chart of Accounts > Enable Account Numbers Left Navigation Bar > Accounting > Chart of Accounts > Gear > Enable Account Numbers Left Navigation Bar > Accounting > Chart of Accounts > New > Enable Account Numbers โ ~~~Gear > Account and Settings > Advanced > Chart of Accounts > Enable Account Numbers In QuickBooks Online, the Products and Services list contains the items that will appear on your client's purchase and sales transactions. What must each product/service item be mapped to? Product categories list Chart of Accounts list Recurring Transactions list Company Settings โ ~~~Chart of Accounts list
Notes will automatically be pinned unless you uncheck the Pin box Clients who don't have a QuickBooks Online company can't have their details displayed on the Client List screen of QuickBooks Online Accountant You can import QuickBooks Online Prep for Taxes data into ProConnect Tax Online to prepare tax returns via the Client Dashboard You can start a new tax return from the Client Dashboard for non-QuickBooks Online clients or clients that are using QuickBooks Online โ ~~~You can import QuickBooks Online Prep for Taxes data into ProConnect Tax Online to prepare tax returns via the Client Dashboard You can start a new tax return from the Client Dashboard for non-QuickBooks Online clients or clients that are using QuickBooks Online Dianne Doolittle wants to download an itemized invoice for the QuickBooks Online subscriptions on her wholesale billing account for last month. The statement can be downloaded in which 2 file formats?(Select all that apply) XLS or XLSX CSV JPEG PDF DOC โ ~~~JPEG PDF
Depending on the way your practice works, you may need to give team members different access levels based on their roles. What are the 3 levels of access that can be granted to Team users of QuickBooks Online Accountant?(Select all that apply) Full access VIP access Basic access Custom access Standard access โ ~~~Full access Basic access Custom access What types of user permissions can you set up when adding a new team member in QuickBooks Online Accountant? Regular or custom user, Company administrator, Reports only, and Time Tracking only Basic, Custom, and Full access Regular or custom user, Company administrator, and Reports only Regular or custom user and Company administrator โ ~~~Regular or custom user, Company administrator, Reports only, and Time Tracking only
Which option correctly fills in these two sentences?
- To match your bank register with your bank statement; 2. the Deposit to account is Checking
- To match your bank register with your bank statement; 2. the Deposit to account is Uncategorized Funds
- To match your expenses with your bank statement; 2. the Deposit to account is Uncategorized asset
- To match your bank register with your bank statement; 2. the Deposit to account is Undeposited Funds โ ~~~1. To match your bank register with your bank statement; 2. the Deposit to account is Undeposited Funds Lynda is teaching her client proper vendor workflow. What is the correct workflow? Purchase Order > Pay bill Bill > Print checks Bill > Pay bill Invoice > Pay bill โ ~~~Bill > Pay bill When the Sales Tax feature is enabled in QuickBooks Online, where must you record sales tax payments?
Create Bill Sales Tax Center Create Check Pay Bills โ ~~~Sales Tax Center What are 2 tools you can use to identify possible issues in a QuickBooks Online company?(Select all that apply) Transaction Journal Import Data Account and Settings Audit Log Journal Entry โ ~~~Transaction Journal Audit Log What are the steps to create a new estimate in QuickBooks Online? Projects > All Sales > New Transaction > Estimate Sales > Customers > New Customer Sales > All Sales > New Transaction > Estimate Gear icon > Estimate
โ ~~~Select Accept Which subscription level(s) in QuickBooks Online include the Receipt Capture feature? Plus and Advanced Advanced only Essentials, Plus, and Advanced All subscription levels include the Receipt Capture feature โ ~~~Essentials, Plus, and Advanced Which 4 statements are correct regarding the QuickBooks Online Receipt Capture feature?(Select all that apply) The Receipt Capture feature uses Optical Character Recognition (OCR) technology to read and transform receipt data to QuickBooks Online If QuickBooks Online finds an expense already entered in QuickBooks Online, it will suggest that you match the receipt to the existing transaction You can snap a picture of a receipt, then review, match, or add it directly from the QuickBooks Mobile app QuickBooks Online will fill in the fields it can for the expense using the OCR data You can assign a payee, account, payment date, category, description, amount, and memo to the expense transaction in the Review screen You can only have one sender email registered to forward receipts in each company
โ ~~~If QuickBooks Online finds an expense already entered in QuickBooks Online, it will suggest that you match the receipt to the existing transaction You can snap a picture of a receipt, then review, match, or add it directly from the QuickBooks Mobile app Which 3 statements are true about the Receipt Capture feature in QuickBooks Online?(Select all that apply) You can match receipts to existing transactions You can create new transactions from imported receipts You can create bills or invoice transactions You can create bills or expense transactions You can import receipts using the AirDrop feature on your iOS device Receipts captured via the mobile app do not need to be reviewed in the browser version โ ~~~You can create bills or expense transactions You can match receipts to existing transactions You can create new transactions from imported receipts In which 2 situations might a transaction need to be excluded from bank feeds?(Select all that apply) If the downloaded transaction was already recorded and reconciled in QuickBooks Online If the bank downloads the same transaction more than once
Add, new Add, existing Match, existing Match, new โ ~~~ Laura and Bryce both want to be able to forward receipts to QuickBooks Online to take advantage of the Receipt Capture feature. Where would they go to enable an additional email account for the same QuickBooks Online company? Gear > Tools > Manage Receipt Capture emails Banking > Receipts > Manage Senders Banking > Receipts > Manage Receipt Capture emails Gear > Account and Settings > Advanced > Manage Senders โ ~~~Banking > Receipts > Manage Senders Which 2 recommendations regarding Bank Feed best practice workflows are correct?(Select all that apply) Complete Add transactions first, then move on to Match transactions Complete Match transactions first, then move on to Add transactions Match downloaded Bank Feed transactions to Invoice Payments, Sales Receipts, or Deposits, but not open invoices
Match downloaded Bank Feed transactions to Invoice Payments, Sales Receipts, Deposits, or open invoices Exclude the downloaded transaction from the For Review tab if QuickBooks Online doesn't immediately find a match โ ~~~Complete Match transactions first, then move on to Add transactions Match downloaded Bank Feed transactions to Invoice Payments, Sales Receipts, Deposits, or open invoices Which subscription level(s) in QuickBooks Online include the Receipt Capture feature? Plus and Advanced Advanced only Essentials, Plus, and Advanced All subscription levels include the Receipt Capture feature โ ~~~All subscription levels include the Receipt Capture feature Which 3 statements are true about the Receipt Capture feature in QuickBooks Online?(Select all that apply) You can match receipts to existing transactions You can create new transactions from imported receipts You can create bills or invoice transactions You can create bills or expense transactions
