QBO exam section 1 2020 April 29th

What are the 3 primary ways to get information into QBO? Select 3 that apply

Convert data from existing QB desktop file Use the Import Data tool Enter data manually into the QBO forms and check register

Which subscription option, if any, includes online banking, access from any device at any time, and integration with a wide range of apps?

Only QBO+ QBO simple start, Essentials, Plus, and Advanced Only QB Self-employed Only QB Self employed and QBO Essentials None of them

Dianne Doolittle has opened a client's QBO company from her Client Dashboard in QBO accountant. She wants to see which apps are connected to the client's account. Where can she find this information wihot hour logging out of the client's QBO account?

Gear icon>Account and Settings>Billing and Subscription Client Overview>Company Setup Client Overview>Common Issues Left navigation>Apps

Can you spot 2 features of QBO Advanced that aren't available to QBO+ clients?

Import invoices Advanced custom user permissions

Managing Inventory and avoiding out-of-stock situations is critical to the success of this type of client. What type of client does this best describe?

Retail and Commerce

Below is a series of steps for accepting an invitation from the client to become their accountant user: 1. Open the email account you use for your Intuit ID 2. You will see an invite from the client company 3. Select the Accept button to accept the invitation 4. _________________and you'll see a Success! Box 5. Select Continue Can you identify the missing step?

Sign in to your QBO Accountant account

You have a client who needs a QBO solution that includes tracking from sales and sales tax. Which subscription level in QBO would you recommend?

Simple Start, Essentials, Plus or Advanced

You are reviewing the Client Overview tab for a new client to determine the scope of a bookkeeping clean-up engagement. You notice that their is a large amount in the Opening Balance Equity account. Which 3 reasons could be causing this balance?

The client has added transactions in the Banking Center without assigning an account to them Opening balances for one or more Product/Service items were entered during the setup process Opening Balances were included when importing Customers, using the Import Data tool

Which 2 statements are true of wholesale billing for QBO?

The practice gets billed, and determines the amount to bill the client The practice gets billed at wholesale prices for QBO subscriptions