D Day - Section 3 _ QB

Which 2 statements are correct about using the client details and dashboard screens of QuickBooks Online Accountant and working with client company files?

-Notes will automatically be pinned unless you uncheck the Pin box -You can import QuickBooks Online Prep for Taxes data into ProConnect Tax Online to prepare tax returns via the Client Dashboard

In which team access level do users have view-only access to the QuickBooks Online Accountant firm information, but no access to team billing, subscription billing, or the firm's books?

Basic access

Based on the relationship and agreement with the vendors, what are the 2 vendor workflow options to pay your vendors?

Bill > Pay Bills Create Purchase Order

Lynda is teaching her client proper vendor workflow. What is the correct workflow?

Bill > Pay bill

Look at these two sentences about Undeposited Funds. 1. By posting to Undeposited Funds, you can create a single bank deposit for multiple payments, making it easy ___________. 2. When receiving a payment, make sure _________________. Which of the options below correctly fills in the blanks?

1. To match your bank register with your bank statement; 2. the Deposit to account is Undeposited Funds

Esther will be helping Heather with her firm's billing, but Heather does not want Esther to have access to her firm's settings or her clients' QuickBooks Online companies.Refer to the graphic and select the letter on the image that shows the correct settings. Which settings should Heather select to give Esther the appropriate access to her firm's books?

C

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?

CSV PDF

Heather's Auto Body purchased new equipment with 90 days same as cash terms. What workflow would you recommend so she can make sure to set aside the money to pay it when it comes due in 90 days?

Create Bill > Pay Bill

Larry's Landscaping Services has extended Net 30 terms to his new customer, Mahoney's Mugs. What sales workflow would you recommend Larry use for Mahoney's?

Create Invoice > Receive Payment > Bank Deposit

What sales workflow would you recommend Larry use for Mahoney's?

Create Invoice > Receive Payment > Bank Deposit

Which common workflow error can cause duplicate expenses in QuickBooks Online?

Create a bill to record a vendor expense, and create a check to the vendor for the same expense

What is the correct process for setting up a recurring project for the same client?

Create a new project and select the Repeat button, then set the frequency and duration

What are the step(s) when using the Sales with Payment customer workflow?

Create sales receipts deposited to the Undeposited Funds account > Create Bank Deposit Create Sales Receipt deposited to the checking account Create Bank Deposit Create Invoice > Receive Payment deposited to the Undeposited Funds account > Create Bank Deposit

Liz has set up a new employee with Standard user access but has unchecked the Payroll access box. Which part of QuickBooks Online will the new employee not have access to?

Employees Tab

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?

Full, Basic, Custom

Jessica's client is expanding and needs to upgrade her version of QuickBooks Online. What steps will Jessica take to upgrade in QuickBooks Online Accountant?

Gear icon> Subscriptions and billing > Your Subscriptions > Select Action > Upgrade

Which 3 navigation features are missing in a Reports Only user's view?

Navigation panel Search box + New button

What are 4 status types that can be assigned to an estimate in QuickBooks Online?

Pending Accepted Closed Rejected

After finishing a project, how do you change the status of that project in QuickBooks Online Accountant?

Project > Status > Done

Heather just received a customer payment and selected Undeposited Funds as the Deposited to account. Where can she see if she got it right?

Sales Center > All Sales, then select Open Invoices on the money bar

What are the steps to create a new estimate in QuickBooks Online?

Select sales > All sales > new transactions > Estimate

QuickBooks Online Accountant allows you to request information from your clients. Which 3 statements about the Client request functionality are correct?

Selecting Create client request on the Work screen begins the process Checking the Notify client checkbox means the client will be sent an email To update the status of a client request, select the request and then the Status drop-down

Which 3 statements about the Client request functionality are correct?

Selecting Create client request on the Work screen begins the process Checking the Notify client checkbox means the client will be sent an email To update the status of a client request, select the request and then the Status drop-down

What would a client select in their Manage Users screen to give their worker access to create invoices, but not print checks in their QuickBooks Online company?

Standard User > Limited radio button > Invoicing box Standard User > Full radio button > Customer and Sales box Standard User > Custom radio button > Invoicing box Standard User > Limited radio button > Customer box

What types of user permissions can you set up when adding a new team member in QuickBooks Online Accountant?

Standard user - use this type to customize a user's access rights. (limited to only certain options; you cannot pick and choose from each section) Company admin - these users have all access rights within QBO and to any other services your company is subscribed to. Reports only (QBO 's version of Read Only access) Time Tracking only - they can see a special version that contains only time sheets and time reports for themselves. They have no access to any other feature within QBO. Accountant - every company is allowed one Accountant user

Which statement about creating a client request in QuickBooks Online Accountant is false?

The request is not sent to the client's email address unless the default setting is changed.

A client is using the Sales on Account workflow. Instead of receiving a payment against the invoice, they add a new deposit categorized to an income account. What 2 problems will this cause?

Their accounts receivable balance will not be accurate The income account will show duplicate income

What are 2 tools you can use to identify possible issues in a QuickBooks Online company?

Transaction Journal Audit Log

Which accountant tool in QuickBooks Online helps identify transactions that may have been removed accidentally from the company file?

Voided/deleted transactions

What are 3 benefits of adding non-QuickBooks Online clients to your Client List in QuickBooks Online Accountant?

You can keep all client contact info, notes, and documents in one place You can create projects and tasks for non-QuickBooks Online clients in the Work tab to stay on top of important client deadlines You can share documents stored in QuickBooks Online Accountant with the client

Dianne Doolittle wants to download an itemized invoice for the QuickBooks Online subscriptions on her wholesale billing account for last month. What could be the reason?

Your client doesn't have bank feeds enabled

Your client has called for help with their bank feeds in QuickBooks Online. You begin by asking them to open the Banking tab in the Left Navigation bar and your client tells you that she doesn't see this option listed. What could be the reason?

Your client doesn't have bank feeds enabled

When the Sales Tax feature is enabled in QuickBooks Online, where must you record sales tax payments?

sales tax center