Quickbooks Online Section 1

Which menu area allows you to search for apps by the problem or business process they address?

Browse category

Which 2 QuickBooks subscription levels would support a client who needs to track how much inventory is in stock at any given time?

Advanced Plus

When would you recommend merging accounts to a client?

When the client sets up two accounts that are used for the same purpose

What is the maximum number of characters allowed in the account number field?

7

To determine the scope of a bookkeeping clean-up engagement, you are reviewing the Client Overview tab for a potential client. You notice that there is a large amount in the Opening Balance Equity account. Which 2 reasons could be causing this balance?

An opening balance was entered when an inventory item was created An opening balance was entered when creating a new Other Current Asset account

What must each product/service item be mapped to?

Chart of accounts

Which 3 of these areas does the Client Needs Assessment tool focus on to help gather the information needed to select the right QuickBooks Online subscription for a client?

Client profile Features and solutions Needs assessment

Which 4 sections of the Overview screen can be used to perform a high-level review?

Common Issues Transaction Volume Banking Activity Company Setup

What are the 3 primary ways to migrate client data to QuickBooks Online?

Convert data from existing QuickBooks Desktop file Use the Import data tool Enter data manually into the QuickBooks Online forms and check registers

Jane owns an online ecommerce business and would like to track the various types of credit cards she accepts.

Credit Card Type

What is one difference between ProAdvisor Discount and Direct Discount pricing, apart from who pays for the subscription?

Duration of discount

Timothy would like to add another term to the current list of terms within QuickBooks Online.

Gear > All lists > Terms > New

Where can you enable account numbers for the chart of accounts?

Gear icon > Account and Settings > Advanced > Chart of Accounts > Enable account numbers

Where would you navigate within QuickBooks Online to show product/service column on sales forms?

Gear icon > Account and Settings > Sales > Sales form content > Products and services

Before merging two sub-accounts, what do you need to check?

Make sure the names are spelled the same.

Susan has complained that there are too many accounts to choose from in her chart of accounts.

Merge duplicate accounts Make accounts inactive

What resource is available to help scope out your clients' needs?

New Client Checklist

If Billy Jo does not want to track the quantity on hand of the products she sells, what Product/Service type should she select when setting up the items she sells in QuickBooks Online?

Non-inventory

Which 2 features in QuickBooks Online can help a professional services company track profitability by client?

Projects Profit and Loss by Customer report

Which 2 accounts cannot be merged or made inactive?

Retained Earnings Uncategorized Expense

Susan would like to assign a preferred vendor to one of her existing product items.

Sales > Products and services > Edit under the Action column > Preferred vendors dropdown

Which 4 statements regarding the chart of accounts are true?

You should make an account inactive from the chart of accounts if it is not relevant to your business When you specify a sales price/rate when setting up Products and Services, you link them to the chart of accounts To add a new account, open the Chart of Accounts by selecting Accounting from the left navigation, then select New to open the Account window The Sales of Product Income account is a default account when inventory is turned on