Notes - QuickBooks Section 3
What are 2 tools you can use to identify possible issues in a QuickBooks Online company?
-transaction Journal -audit log
What should you consider when downgrading a client?
Features Third-party apps (Apps in Left Navigation Bar > client apps) plan discounts
Where do you go to see a client's previous tax payments from the last quarter?
Tax Center History Link
where do you go to add a logo to an invoice?
gear custom form styles new style invoice add logo
where do you go to add some personal branding to an invoice template?
gear custom form styles
Depositing funds - recording a bank deposit
1. New button 2. Bank Deposit > Other Category heading 3
What information is needed to set up sale tax in QBO for a client who only does business in their home state?
1. The company address 2. when their last tax period started 3. how often they have to file a tax return 4. When they started collecting sales tax for the agency.
Under full service there are 3 subscription levels
core premium elite (intuit offers penalty free guarantee)
what does intuit recommend abou tthe payment process
it is recommended that the Master Administrator of the QBO Company complete the set up. You connect an existing QuickBooks Payment, GoPayment or Intuit Merchant Service account to a new QBO Company.
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 and Custom Access
How do you set up QBO payments? (no Monthly fee with a higher rate per transaction compared to Banking Merchant Account).
Gear accounts and settings payments learn more
Receive payments
1. + New button and select Receive Payment 2. Select the customer from the drop-down. In this case, it's for Chris's first check from Bill Gallinger Notice how you see a list of any outstanding invoices for Bill Gallinger. Change the payment date to today Select a payment method, in this case it's a check Enter a reference number: 1234 Make sure the Deposit to account is Undeposited FundsTip: This payment is in response to an invoice, so we have another step to do, which is to match the payment to the invoice. Check the box next to invoice 1001 to apply the payment to the invoice. It's the one for $1224.69 Select Save and newThe next received payment is for Jennifer Martin, so select her from the customer drop-down menu.Once again, the active invoice appears, and we can select it. Change the payment date to today's date Select a payment method. In this case, it's a check Enter a reference number: 12345 Make sure the Deposit to account is Undeposited Funds Check the box next to invoice 2 to apply the payment to the invoice. It's the one for $533.13. Select Save and close
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
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
How to upgrade clients who aren't part of wholesale billing (i.e. direct billing)?
1. Gear > Account and settings 2. billing and subscription 3. upgrade your plan 4. Upgrade 5. Save
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
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
ProAdvisor tip
Did you know that if you add a member of your team to the client's QuickBooks Online file as an accountant user, they will have the same permissions as a company administrator? Firm users cannot have custom access that determines what they see in the client file, including payroll. Rather, they can see all information or none at all.
You set up a new employee with standard user access, but you uncheck the Payroll access box. Which part of QuickBooks Online will the new employee NOT have access to?
Employee tab
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
Which 2 team user roles have permission to view and search for apps using the Apps tab in QuickBooks Online Accountant?
Firm Master Admin Full Access team Users
QuickBooks Online Accountant has three levels of access that can be granted to team users.
Full access: This allows the user to edit QuickBooks Online Accountant firm information, modify team users, update the firm's wholesale subscription billing account, and access the firm's books. Basic access: This gives the user view-only access to QuickBooks Online Accountant firm information, but no access to team and subscription billing, and no access to the firm's books. Custom access: This lets you select a different mix of these permissions for the team user.
Which option best describes why an Undeposited Funds account needs to be used for receiving multiple payments?
It's used so that the QuickBooks online bank register matched the monthly bank statements.
Where can a Master Admin Accountant user view the apps connected to a client's Quickbooks Online account from within Quickbooks Online Accountant?
Left navigation bar Apps Client Apps (The app screen shows you the Find Apps, Client Apps, and Apps for your firm.)
Lynda is teaching her client proper vendor workflow. What is the correct workflow?
Purchase Order > Pay Bill
Which 2 payroll options available inside QuickBooks Online Company?
QuickBooks Full Service payroll QuickBooks self service payroll
What are the steps to create a new estimate in QuickBooks Online?
Sales > All Sales > New Transaction > Estimate
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
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 > Invoices tab, then select Deposited on the money bar
When the Sales Tax feature is enabled in QuickBooks Online, where must you record sales tax payments?
Sales Tax Center
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 You can't add attachments to a client request You can request documents from a non-QuickBooks Online client 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 User screen to give their worker access to create invoices, but not write checks in their QuickBooks Online Company?
Standard User Limited Customer Box ccain
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
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.
Team user details
These are accessed from the Left Navigation Bar under the Team tab. You'll see a grid with the name of each of the firm's staff, their title, email address, type of access, and status. There are also two icons above the grid: a Print icon and a Gear icon. The Gear icon is to change the settings for the number of rows showing, and to specify compact rows.
Would a client benefit from downgrading their subscription?
To downgrade a client who isn't part of Wholesale billing, i.e. direct billing: Select the Gear icon menu in the client's company and select Account and Settings Select Billing & Subscription. Make sure your payment info is updated and valid Select Downgrade your plan. The Downgrade page shows your current plan, and other plans you can downgrade to. If you can't see the Downgrade option, go to qbo.intuit.com/app/changeplan to downgrade Find the new plan you want based on the feature list, then select Choose Plan Review what goes away with your new plan. If you're ready to downgrade, select Next Review your new billing details. Select Change plan to complete the process For wholesale clients, sign in to your QuickBooks Online Accountant company file, then: Select the️ Gear icon in your QuickBooks Online Accountant company file, then Subscriptions and billing In the Your subscriptions section, locate the client Select the Downgrade option in the Select Action column. (Note: if you don't see Downgrade as an option, that file cannot be downgraded) If your client upgrades to Advanced, and then downgrades back to QuickBooks Plus, Essentials, or Simple Start, they (or more likely you) will need to reduce everything to their usage limits when they downgrade.
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 access all your ProConnect Tax Online clients from the same dashboard You can launch your QuickBooks Desktop client companies directly from the Client Dashboard 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
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
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
What features should a bookkeeper suggest to his/her clients to build their brand recognition?
be creative with your font type that matches the company's branding scheme add a company logo to customer sales forms/invoices also add the color that matches the company branding scheme
Which statement is true when a QuickBooks Online company file is suspended for exceeding usage limits?
You or the client must contact QuickBooks Online to have the file reactivated The only option here is for you or your client to call QuickBooks Online and have the file reactivated, then either upgrade to the next subscription level or optimize the areas that are exceeding usage limits in the current subscription level.
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 Your client has Business view selected in their settings Your client has turned off the Banking option in their settings Your client has the Simple Start subscription for QuickBooks Online
How do I upgrade clients on wholesale billing agreements?
1. Gear > subscription and billing 2. in the "your subscription section", locate the client 3. Upgrade you can't upgrade pending wholesale clients. You must wait for that company to be fully moved over to your Wholesale billing account before you can make changes to a company's subscription
For new account set up - set up payments in the set up wizard and you need the
Company info owner info and bank feeds
A great feature of QBO is that there are other lists you can utilize to make it easier to fill forms. Where would you go to find these extra lists?
Gear All lists
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 2 statements are correct about using the client details and dashboard screens of QuickBooks Online Accountant and working with client company files?(Select all that apply)
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
Assigning a client lead
Start in the Client list in QuickBooks Online Accountant Select the Filter button Select Edit Leads Go to the Chris Grier Master Electrician client row and select the Lead drop-down Choose Dianne Doolittle Save the change You can see that Dianne's initials now appear as the lead for Chris's client file
Adding a team user
Sign in to QuickBooks Online Accountant Select Team in the account Left Navigation Bar Select Add user Enter Alison Ganz under name and add the email address as [email protected] (this is just for this example) Select NextYou can set custom access to your firm's admin and own accounts here. Note the guide to the different levels of access on the right. We want the new bookkeeper to have Custom access to your firm's information, so select that from the first Access drop-down listWe can choose whatever access level the team member needs to have by selecting access levels to your firm's administration information and books. We can see information on each category by hovering over it. Alison, as a bookkeeper, needs access to the firm's books. Select Yes for each of the headings Customers and accounts receivable and Vendors and creditors Then select NextHere, you can set access to specific clients, so let's give our bookkeeper access to Cindy's Bee-uty Bar from the Specify client access screen Select Save
Team access rights
Sign in to QuickBooks Online Accountant as Alison Select Sales from Your Books in the Left Navigation Bar Go to the Invoices tab and select Create invoiceBecause Alison has been given access to the firm's customers, and accounts receivable and vendors and creditors, she can see the full list of the firm's clients in the customer list. Select Ravela NestEgg Properties as the Customer In the Product and Service drop-down, select Hours The Description is Bank reconciliation The Quantity is 2 and the Rate is $100 Then Save and Close (if defaulted to Save and send, use the arrow next to the button to select Save and Close)But let's take a look at what she can see in the Client List.What you'll notice is that even though Alison can see all the open invoices for the firm, she can't access these clients' QuickBooks Online accounts. We only gave her client access to Cindy's Bee-uty Bar. So that's the only client she can see.
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?
They will create duplicate expenses Their accounts receivable balance will not be accurate The income account will show duplicate income The income will not be recorded Their accounts payable balance will not be accurate
