QuickBooks- Customizing & Saving Time

88) Put the following steps in order for tracking departments. a. On sales and expense transactions, select the class(es) associated with each transaction b. Turn on Classes in company settings c. Turn on Departmental Tracking in company settings. d. Run the Profit and Loss by Class report e. Create your departments on the Class List

b. Turn on Classes in company settings (1) e. Create your departments on the Class List (2) a. On sales and expense transactions, select the class(es) associated with each transaction (3) d. Run the Profit and Loss by Class report (4)

95) True or False: Because QBO is in the cloud you don't need to back it up. a. True b. False

a. True

83) Which form CANNOT be customized? a. Bill b. Invoice c. Estimate d. Sales Receipt

a. Bill This is correct. A Bill cannot be customized in QuickBooks

93) What happens if you press "CTRL", "ALT", and the "?" keys at the same time? a. Nothing b. QuickBooks displays a list of shortcut keys c. Your QuickBooks goes into private mode so no one can see your sensitive financial data.. d. QuickBooks refreshes all data from apps and mobile devices.

b. QuickBooks displays a list of shortcut keys Correct

99) What does the "Apps" tab do in QuickBooks? a. Use it to link your IOS (apple) or Android phone apps to QuickBooks. b. Use the Apps tab to create versions of QuickBooks (Apps) for each user in your company. You (the administrator) can limit the functionality of each app c. Use the Apps tab to find other apps a business needs (or is already using) for their business (e.g. webstores, CRM, project management, etc.). d. Use the Apps tab to track customer appointments.

c. Use the Apps tab to find other apps a business needs (or is already using) for their business (e.g. webstores, CRM, project management, etc.). This is correct. The apps tab in QuickBooks contains apps created by other companies to solve specific business needs (e.g. industry specific, websales, CRM, project management, etc.). Businesses can add functionality as they grow, or connect an app they're already using to QuickBooks. Their data syncs automatically so they don't have to enter the same data twice.

98)If you use QuickBooks on your mobile device, how do you update your QuickBooks so that someone using it on the web can see your changes? a. Click the and select "Import Mobile Data" b. Click the icon to auto update your QuickBooks data. c. You do nothing. QuickBooks is always up to date with info from the mobile device. d. Click the Update link on the top of the screen

c. You do nothing. QuickBooks is always up to date with info from the mobile device. This is correct. Transactions entered on your mobile device are

89) 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? a. Enter each sales rep as a vendor and select them as the vendor on sales forms. b. Navigate to company settings, and in the Sales category of settings, create a custom field for sales rept c. Use the Sales Rep field that appears as a default on all sales forms. d. You cannot track sales reps in QuickBooks

b. Navigate to company settings, and in the Sales category of settings, create a custom field for sales rep Correct

92) How do you search for a transaction in QuickBooks? a. Press Ctrl+F to open the search window. b. Click the icon to search for the check by check number, amount, or date c. Click the icon and search by transaction number, amount, or date. d. Open a new check form and click the previous button until you locate the check.

c. Click the icon and search by transaction number, amount, or date. This is correct. After you click the search icon, you can click "Advanced Search" in the same window to search by even more criteria/filters.

91) You need to find an invoice, but all you know is the total amount. You can't remember the customer or even what you sold. How can you find the invoice? a. Click the icon and search for the specific amount. b. Press Ctrl+F to search for the invoice c. Open a new invoice form and click the previous button until you locate the invoice d. Go to the Audit log listing for invoices. Scroll down until you locate the invoice that you need to modify

a. Click the icon and search for the specific amount. Correct. If there is only one transaction with that amount, QuickBooks will display it. If there are more than one, QuickBooks will display a list of all transactions for that amount.

97) Your new employer is on the road a lot and would like to view overdue customers so he can phone them and possibly visit them to collect payment. How can (s)he do this? a. Download and use the free QuickBooks Online app that's available for IOS (Apple) and Android. b. Run the A/R aging summary report and click the "make available on other devices" checkmark. c. Run the A/R aging summary report and print it as a pdf. Be sure to click "include addresses" so your employer can get directions if necessary.. d. Carry her/his laptop and use hotspots on the road to review overdue customers.

a. Download and use the free QuickBooks Online app that's available for IOS (Apple) and Android. This is correct. The apps take advantage of the mobile devices capabilities (e.g. GPS, and phone) so the owner can easily see who's overdue and call them and then get directions to the customer's location. The owner can even record expenses and use the camera to attach a photo of the receipt. Note: The owner can't do EVERYTHING on the mobile device that you can do from the web browser.

84) Your employer wants you to include some legal fine print in the footer of every invoice. However, you already use the "Customer Message" field to include a "thank you" message. How can you add the legal fine print to the bottom of all invoices (without using the "Customer Message" field)? a. In the Customize Form Styles window when editing the invoice template, click the Content tab, and then click the footer box to type the fine print in the footer text field. b. You can only have one message at the bottom of invoices. You could type the thank you in the Description of the invoice and use the customer message field for the legal fine print. c. While creating an invoice, click "Add footer text" and type the legal fine print there. d. In the Account and Settings window click the Sales Tab and select "Add footer text to sales forms". Then type the legal fine print

a. In the Customize Form Styles window when editing the invoice template, click the Content tab, and then click the footer box to type the fine print in the footer text field. Correct

85) You need to create a recurring invoice. How do you do this in QuickBooks? a. Open the transaction form (invoice in this case) and click Make recurring. b. Click the icon and select Recurring Transactions. c. From the Customer detail window select Recurring Transaction from the New transaction drop down. d. From the Vendor detail window select Recurring Transaction from the New transaction drop down.

a. Open the transaction form (invoice in this case) and click Make recurring. Correct

100) A company uses QuickBooks, but they need another program or app to manage all the interactions they have with their customers (this is usually called a customer relationship management or CRM application). They don't want to enter every customer twice - once into QuickBooks, and once into the CRM application. What do you suggest they do? a. Use the export to excel function within QuickBooks to export the customers periodically. Then import them into the CRM application. b. Use the Apps tab in QuickBooks to find a CRM app c. Look for a CRM app that produces financial statements and use that app to record the company's sales, but continue to keep track of expenses in QuickBooks. d. Track their CRM in QuickBooks

b. Use the Apps tab in QuickBooks to find a CRM app This is correct. The apps tab in QuickBooks contains apps created by other companies to solve specific business needs (e.g. industry specific, web sales, CRM, project management, etc.). Businesses can add functionality as they grow, or connect an app they're already using to QuickBooks. Their data syncs automatically so they don't have to enter the same data twice.

86) Your employer asks if you can automate the process of entering the rent check in QuickBooks. How do you answer? a. I can't automate it, but each month I can set a reminder in my calendar to enter the rent check into QuickBooks. b. Yes, I can do this by making the rent check recurring. I can even tell QuickBooks to stop creating these checks after a certain number of months. c. I can't automate it, but I'll enter a bill for the annual cost of rent and then each month I'll pay one month's payment against the bill. d. Yes, I can do this by creating a memorized transaction for the next 12 months.

b. Yes, I can do this by making the rent check recurring. I can even tell QuickBooks to stop creating these checks after a certain number of months. Correct

90) How do you add custom fields so that they can be used on a sales form? a. In the customer record. b. Account and Settings > Sales > Customize c. Account and Settings > Sales > Sales form content d. Products & Services > Custom Fields

c. Account and Settings > Sales > Sales form content Correct

87) 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 to both. What is the best way to set this up in QuickBooks? a. Have consulting services and landscaping each set up as its own department. b. Create one Product/Service item for consulting services, and then another for landscaping. c. Turn on Classes, and set up consulting services and landscaping each as their own class. d. Have one company for consulting services, and a separate company for landscaping

c. Turn on Classes, and set up consulting services and landscaping each as their own class. Correct. You turn this on in the Account and Settings window. Then you can use the Class field on expense and sales forms to tell QuickBooks which class (department) the transaction is for. If you want to track different locations of the same business, use "Locations" instead.

94) You'd like to work in QuickBooks more efficiently. How can you see the list of shortcuts available to you? a. Click F1 and the icon. b. You can only do this from QuickBooks Online Accountant c. From the Edit menu select View Shortcuts d. Press the "CTRL", "ALT", and "?" keys at the same time.

d. Press the "CTRL", "ALT", and "?" keys at the same time. Correct

96) Which of the following is TRUE regarding accessing QuickBooks? a. You must use Internet Explorer. b. Once you access QuickBooks from a browser, you must use that browser every time. c. QuickBooks cannot be accessed on a Mac operating system. d. You can access QuickBooks from almost any browser on any computer with an Internet connection.

d. You can access QuickBooks from almost any browser on any computer with an Internet connection. Correct