QuickBooks Certification
Which of the following reports are only available to Accountant users?
Adjusting Journal Entries
How does your client integrate a 3rd party app with your QuickBooks Online account?
Apps menu > Find App > Get App Now
Which transactions are posting transactions when it comes to purchases?
Expense Cash Expense Credit Card Expense CheckBillBill Payment(Check or Credit Card) Vendor Credit Credit card sales Sales tax payment
Which 3 of the tasks below should be completed to prepare the log for auto expense deductions at year end?
Calculated mileage Any vehicle changes That all trips have been reviewed
Which of the following is information found in the Client Details screen?
Current account balances
What are non-posting transactions related to sales?
Estimate Delayed Charge Delayed Credit
Which of the following tools is not available in the Accountant Toolbox?
Exceptions to Closing Date Report
Which tab in QuickBooks Online Banking shows the bank data that has not yet been accepted into QuickBooks Online?
For Review
Where do you manage wholesale billing for the QBOA firm?
Gear Icon> Your Account
When you record a charge to a customer on a sales form, what account does the line item charge post to?
The account mapped in the income account field in the sales information section of the product / service item
What does the Accountant ToolBox allow us to do that our clients cannot do on the Bank Reconciliation screen?
Undo bank reconciliations
What is a benefit of recording expenditures on bills using product / service items instead of accounts?
Use of Purchase reports
Which of the following would not result in a balance in Opening Balance Equity?
When adding an income account, the opening balance field was filled in
How do you ensure the client receives an email notification to alert them about the new request for information?
When creating the request, ensure the Notify client slider is on
A non-profit client wants to change the heading for her customers to Donors. Where should she go in QuickBooks Online to change this setting?
Gear Icon>Account Settings>Advanced>Other preferences>Customer label
Which of the following statements is false about the Opening Balance Equity account?
It is only okay to have a balance in the Opening Balance Equity account if it is equal to the prior years retained earnings.
Why is setting a closing date and a password strongly recommended?
It prevents a client from making changes to a closed period
Under which settings tab do you enable inventory tracking?
Sales
Which of the following is not a feature of Online Invoices?
Shows total balance for customer for all open invoices
Which of the following steps are needed to track inventory?
Sign up for QuickBooks Online Plus: Go to Account and Settings>Sales>Products and services>Track inventory quantity on hand
Where can you go to import a customer list into QuickBooks Online? Select all that apply.
The Gear icon, then select Import data The down arrow by New customer, then select Import customers
What should you select to remove a vendor from the list?
The Make inactive option from the dropdown in the Action column
Which of the following is an advantage of saving Custom Reports?
The ability to add the custom reports to a group and have them automatically emailed
For how many consecutive days can you re-import QuickBooks Desktop data into QuickBooks Online form the date the QuickBooks Online Company is created?
180
Your client uses QuickBooks Online Simple Start. How many accountant users can your client invite?
2
How many regular (not accountant Users) can access a QuickBooks Essential subscription at one time?
3
For clients with a QuickBooks Online Plus account, what's the maximum number of billable users?
5
How is a Credit Memo different from a Refund Receipt?
A Credit Memo affects Accounts Receivable
What is the difference between an Invoice and a Sales Receipt?
A Sales Receipt is meant to record an immediate acceptance of payment while an Invoice represents an expected payment in the future
Which of the following best describes the functionality of the top navigation bar in QuickBooks Online?
A place to easily access tools for entering transactions
Which imported Bank Feed transaction will not be included in the Recognized tab?
A transaction that has multiple possible matches in QuickBooks
The QuickBooks Online App provides users with a more 'desktop like' experience. What feature does this app have that QuickBooks desktop does not?
Ability to tile windows across multiple monitors
Which 2 of these statements about setting up and editing a chart of accounts are correct?
Account names can be edited Deactivated accounts can be reactivated
When reviewing your client's accounts, you notice a mistake in an expense transaction. It looks like it's been categorized to the wrong expense account. Where would you go to see if any transactions had been miscategorized?
Accountant Tools > Reclassify transactions
To import QBO data into ProConnect Tax Online, use the following workflow:
Accountant Tools > Trial Balance > View Tax Return
Where would you find the Audit Log in the Reports Center?
All Reports > Business Overview
One of the major advantages of all subscription levels of QuickBooks Online have over the desktop version is:
All the data is hosted, backed up and secured by Intuit's servers
Which of the following options is NOT true regarding editing a chart of accounts?
All transactions are deleted from an account if you make it inactive
How would QuickBooks Online alert you of a discrepancy in the beginning balance when reconciling your clients' accounts?
An alert will be displayed in the reconcile tab, stating that the account isn't ready to be reconciled yet, as the beginning balance is off
One of your retail clients has been trading for around 2 years and, due to demand, is hoping to open a second store. They've asked you how much money they can afford to spend. Which report would you suggest they use?
Balance Sheet report
Which is not a way you can access the Reconcile screen in QuickBooks Online?
Banking Center > Reconcile
What is one option for creating a new QuickBooks Online Accountant firm?
Be invited as the accountant user from a QuickBooks Online company
All of the following types of transactions can be made recurring, except which of the following?
Bill Payment
You need to add a gift basket with a collection of beauty products to your client's list of Products and Services. Which item type would you assign this to in QuickBooks Online?
Bundle
Choose the statement that best describes QuickBooks Online's functionality related to sales forms and products and services:
Charges to a customer on a sales form post to the account mapped to the product / service item's income account field
Which of the following is not a field that can be imported using .CSV files via the import function in the Banking Center?
Check Number
If you are using Bank Feeds in QuickBooks Online, what must you do in the Reconcile screen in order to hide transactions you have matched or added in a subsequent period?
Check the box "Hide transactions after statement ending date"
How do you remove duplicate Bank Feed transactions that have not been added to the register?
Check the box to the left of the duplicate transactions in the For Review tab in the Banking Center and then Exclude from the Batch Actions drop down menu
Which of the following lists can not be accessed from the Left Navigation Pane?
Classes
You are getting frustrated because you are always changing the dates when you run reports. What can you do to set default dates for reports?
Click on the Accountant ToolBox and choose Report Tools
Which of the following are benefits of using the Online Invoicing Portal?
Clients can correspond with their customers regarding invoice details
Which of the following summary information of activity from clients' QBO companies can be found in the Client list grid in QuickBooks Online Accountant?
Close Date
Which 2 levels of users can add apps to QuickBooks Online?
Company Admin, Primary Admin
Where can you find a visual representation of some of the company's key financial indicators?
Company Snapshot
Which of the following transactions can be recorded using the Expense feature?
Credit Card Expense
Which of the following lists is the same in both Your Books and QuickBooks Online Accountant?
Customers
You are onboarding a new client in QuickBooks Online. Which 3 questions should you ask your client to help you set up their sales tax correctly?
Do they do business in more than one state? What agencies do they need to pay their sales tax to? What is their filing frequency?
Which 2 of these common issues does the Pay down credit card feature help to resolve?
Duplicate entries Payments categorized to the wrong account
Which of the following cannot be imported using the import data tool in QuickBooks Online?
Employees
How do you log in to QuickBooks Online Accountant?
Enter your Intuit ID at qbo.intuit.com
In which section of the Customize report drawer can you add the date and time the report was prepared?
Header/Footer
A client who pays for their QuickBooks Online subscription directly wants to upgrade their subscription level. Where in QuickBooks Online Accountant would you find the link to do this?
In the Subscriptions and billing section, on the Client-billed subscriptions tab
What are posting transactions related to sales?
Invoice Receive Payment Credit memo Sales receipt Refund
Which of the following is an accurate statement about the Your Books section in QuickBooks Online Accountant?
It is a QBO Plus company
Which of the following is a feature of QuickBooks Online Payroll?
Pay employees by direct deposit or print paychecks
Which of the following can be made Recurring in QuickBooks Online?
Journal Entry
The Sales Center is found in the _________________________ in QuickBooks Online.
Left Navigation Pane
Your client insists that a recently downloaded transaction is already entered into QuickBooks and doesn't understand why there's no match. What might you suggest to do?
Look in the In QuickBooks tab to see if it was matched to the wrong transaction
When creating journal entries as an accountant user, what can we do that our clients cannot do?
Mark the journal entry adjusting
Your client has multiple users of their QuickBooks Online company file. In the Vendor Center, you notice two or more similar names that refer to the same vendor. Which of the following would you do to clean up the Vendor list?
Merge the similar vendor names
You recently set up a client to use Bill Pay by Melio, but they've called asking you how they can see the status of the bill payments they've added. What steps would you advise the client to take to view the status of a bill payment?
Navigate to the Expenses screen, open an existing bill payment transaction, select View online payment
Which 2 of the following are ways to create a new tag?
On the invoice, start entering the tag name in the Tags field, then select + Add from the pop-up Select the Manage tags link on the invoice, followed by Create tag. Then enter the tag name
Your client is moving out of state and wants you to do the monthly accounting in their data file. What would be the best reason to recommend converting to QuickBooks Online?
Online access to client data anytime, anywhere
Who can add apps to client company accounts?
Only Admin users can add apps to a company account
Which of the below is NOT an advantage of recording a transaction as a purchase versus an expense?
Only transactions posted as a purchase record activity directly to the general ledger and can be found on a Financial Report, such as the Profit & Loss report
The QuickBooks Online __________________ allows developers to connect their apps to QuickBooks and send data back and forth between them.
Open API platform
Which is not a file type that can be imported into the Banking Center?
Which of the following cannot be initiated using the Quick Create menu?
Pay Employees
What may cause income and Accounts Receivable to be overstated?
Payments are not being received and deposits are posting to income
Your client has an employee who needs a breakdown of all the taxes and deductions withheld from their paycheck year to date. Which common payroll report would you run to find this information?
Payroll Details Report
Which of the following is an important distinction between QuickBooks Online Payroll and Intuit Online Payroll for Accounting Professionals?
Payroll is run inside QuickBooks Online with QuickBooks Online Payroll and outside of QuickBooks Online in Intuit Online Payroll for Accounting Professionals
Your client needs a QuickBooks Online solution that includes tracking for: Sales, Sales Tax, & Inventory
Plus
Which transactions are non-posting transaction when it comes to purchases?
Purchase Order Billable Expenses
The Trial Balance tool in QuickBooks Online is a tool that:
Pushes QuickBooks Online data to ProConnect Tax Online for online completion of the federal income tax return
Where can you find the Transfer function of QuickBooks Online?
Quick Create
Where do you enter time tracking activities in QuickBooks Online?
Quick Create
Which of the following is not an app that is offered by Intuit as an add-on product?
QuickBooks Enterprise Solutions
Which of the following can be used for drafting bank accounts (ACH payment) in QuickBooks Online?
QuickBooks Payments' Pay Now button on an Online Invoice
Which 3 of these steps should you complete before you close a client's books?
Reconcile all bank and credit card accounts Substantiate all balance sheet accounts Review the profit and loss accounts
You want to provide your client with a professional-looking downloadable report that includes a cover page, table of contents, and a custom letter that they can send to potential investors. Where would you go to create such a report?
Reports center>Management reports tab
What type of user can only be added to a QuickBooks Online Plus Company?
Reports-Only User
One of your e-commerce clients ordered far too many products in the build-up to the holiday season last winter. This left her with too much stock in January and she had to offer discounts in order to reduce the stock. Which report could help your client avoid ordering too much stock?
Sales by Product/Service Summary
Your client wants to automatically send reports to their board of directors. How can they set this up?
Save reports to Group; edit group/set email schedule
Stuart would like to find an app that his outside sales reps can enter estimates into because he doesn't want them to have access to QuickBooks Online and his sensitive financial information. Which statement benefit of using Intuit approved apps is Stuart looking to employ?
Security/separation of duties
When setting up a bill, how can you allow the vendor to choose how they'd like to receive the payment?
Select Ask vendor for payment details and then enter their email address
When the customer receives the invoice, what do they need to do to begin the payment process?
Select Review and pay, then choose the appropriate payment type and enter the necessary details
One of your clients has been using recurring transactions for some time, but has lost track of which transactions are set up as recurring. How would you advise your client to view all the current recurring transactions?
Select the Gear icon, then select Recurring transactions
What steps must you complete to handle a bank feed transaction that belongs to a transaction that has been reconciled using the Reconcile Tool?
Select the transaction in the New Transactions tab > Batch actions > Exclude Selected
Your client requires access to QuickBooks Online for himself, as well as his bookkeeper and his accountant. In addition, he will need to add payroll to his subscription level. Which of the following is the least expensive QuickBooks Online subscription he can purchase that will satisfy these requirements?
Simple Start
How do you create a recurring invoice in QuickBooks Online?
Start from existing transaction and create a template by clicking Make Recurring
Where would you go in QuickBooks Online to make a sales tax agency inactive?
Taxes Center>Sales Tax>Sales tax settings
A new client has been using an inconsistent structure and hierarchy in the chart of accounts. You've already customized all your other client's account numbering to provide a consistent way of working, but your new client doesn't have account numbering enabled.
The Advanced tab in Account and Settings
Where can you add a new Customer to your Customer List in QuickBooks Online?
The Customer Center > New Customer
When you set up your client's sales tax in QuickBooks Online, you've already recorded their physical address, the tax agency they pay sales tax to, and their reporting interval. What additional 2 pieces of information are used to calculate sales tax on an invoice?
The customer's sales tax status. The tax category for the product or service.
What would you select from the Customers tab in the Sales center to create a customer statement?
The customer(s) from the list and then select Create statements from the Batch actions dropdown
If you do not use sales form or a product/service item, what account does the item charge post to?
The income account you selected from the dropdown field
Which of the following statements regarding App subscriptions for QuickBooks Online is accurate?
To add an app, from QBO, click Apps link on left-side menu, search for app, and try it free
In which 2 of these cases could you use the Reclassify transactions tool?
To change the expense account for billable expenses, but not the income account for the related income transactions To change the class and/or location for invoices, sales, receipts, checks or bills with items (products or services) on them
The Bill screen is best used for which of the following tasks?
To record bills to be paid later
You wish to start using payroll in QuickBooks Online. What is your first step?
Turn on payroll in QuickBooks Online by selecting Employees > Turn on Payroll
You have received a shoebox full of receipts from a customer to enter into QuickBooks Online. They are not sorted in any way, and they include check stubs from different bank accounts, receipts for cash expenditures, and credit card slips from different cards. Of the following options, which is the most efficient way to get them entered into QuickBooks Online?
Use the Expense function and specify the bank, cash or credit card account in each transaction
You may end up working with a company with a surplus of uncategorized transactions sitting in a Miscellaneous, Ask My Accountant, or Uncategorized expense account. What is the most efficient way to post these transactions to the proper accounts?
Use the Reclassify Transactions tool to move the transactions from the uncategorized account to the proper expense account
Your client needs to move some funds from a savings account into a checking account. How would you respond to your client?
Use the Transfer feature by selecting + New, then selecting Transfer, and entering the details
Your client has been entering bills into accounts payable, but has been paying them with checks and credit card expenses. What is the best way to fix the duplicate expense entries and close the open Accounts Payable balance?
Use the drawer to add the bill to the check or credit card expense
Your client wants to make it quick and easy for customers to make a one-off payment straight from their smartphone. Which sales process would be best suited to this?
Use the payment links tab in the Sales Center to send a payment link to the customer
Which of the following statements is true about vendor credits in QuickBooks Online?
Vendor credits post as a debit to decrease accounts payable
Which of these statements about Vendor credits in QuickBooks Online is true?
Vendor credits post as a debit to decrease accounts payable.
You need to file a sales tax return for one of your clients. Where in the Taxes Center would you find the information you need to do this?
View return
Basic access grants which of the following permissions to team users?
View-only access to firm information
In which 4 of these situations would you use a Deposit transaction?
When the client receives funds from loan proceeds or contributions of cash from owners. When the client receives a refund from a vendor and wants to record it directly against the expense account or to a Refunds Received Income account. When the client doesn't record income using sales transactions (invoices or sales receipts) and wants to record deposits directly to income accounts. When the client receives money from an employee to pay down a loan owed to the company.
How do you get multiple screens to display over multiple display monitors when working in the QuickBooks Online Apps?
Windows menu > Menu items open new windows
Which of the following statements about adding a new custom field in QuickBooks Online Plus are correct? Select all that apply.
You can add up to 3 custom fields to sales forms and purchases orders You can add the same custom field to sales forms and purchase orders
Which of the following statements about adding sub-categories to the product and services list are correct? Select all that apply.
You can edit existing product/service items to assign them to a sub-category You can only add up to 4 category and sub-category levels, including the parent
Which is not a benefit of using the QuickBooks Online Apps for Mac and Windows?
You do not have to be connected to the internet to open your QBO Company
Your client has noticed a duplicate transaction in the bank feed. What advice would you give them?
You need to exclude the transaction if it's a duplicate because it'll cause the bank balance and reports to be incorrect.
Which of these situations would call for a deposit transaction? Select all that apply.
Your client receives a tax refund from the IRS Your client receives a cashback payment from a vendor for ordering in bulk
