QuickBooks Certification Test Answers 2023

Question (5): A great feature of QuickBooks Online is that there are other lists you can utilize to make it easier to fill in forms. Where would you go to find these lists?

Answer: Go to the Gear icon and select All Lists

Question (6): Where can you go to QuickBooks Online to import a list of products and services?

Answer: Select the Gear icon and under the Tools column, select Import Data, then Products and services.

Question (4): Your client has moved and needs you to modify the business address of the company in QuickBooks Online. Take a look at the steps below. 1. Sign in to your QuickBooks Online Accountant account 2. _________________ 3. You'll see the client company dashboard 4. _________________ 5. Select Account and Settings6. Select the Pencil icon in the Address section of the Company tab 6. What are the missing steps to get you to the screen to edit the address for your client?

Answer: Step 2: Select the client company from the Client Switcher drop-down in the green header bar. Step 4: Select the Gear icon.

Question (3): Your client doesn't want to pay a monthly fee for their QuickBooksPayments merchant account. What another option is available to them, and wherein QuickBooks Online can they sign up for QuickBooksPayments?

Answer: There is another plan which means the customer pays the transaction charge; In the Billing and Subscription tab of Account and Settings.

Question (7): What is the difference between the "Profit and Loss Report" and the "Balance Sheet Report"?

Answer: ● P&L shows activities: income and expenses to arrive at Net Income (Profit) for a specific time period. ● The Balance Sheet shows values: Assets and Liabilities to arrive at Equity (Net Worth) as of a specific date. ● The Net income from the Profit & Loss pass through the equity section in the balance sheet

Question (8): The Chart of Accounts lies at the heart of a QuickBooks Online company. Which 5 of the following statements are true about the Chart of Accounts, how to make changes to the Chart of Accounts, and how products and services are linked to the Chart of Accounts?

Answer: ● To add a new account, you 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 Uncategorized Income and Uncategorized Expense are default accounts for online banking activity ● If you add a new account, the category type determines on which financial statement this account will show ● Delete an account from the Chart of Accounts if it is not relevant to your business

Question (2): Your client has asked you to turn on warnings for duplicate check and bill numbers in their QuickBooks Online company. Take a look at the steps below. 1. ______________ 2. Under Your Company, select Account and Settings 3. Select Advanced tab 4. In the Other preferences section, select the option to warn if duplicate check number is used and warn if a duplicate bill number is used 5. ______________ 6. Starting at the QuickBooks Online Dashboard, which option would complete the following steps?

Step 1: Select the Gear icon, Step 5: Select Save

Question (1): QuickBooks Online has some great features. Clients can use Online Invoicing, which will track when they've been viewed and paid. Online Invoicing even allows for customer queries via online messages directly linked to the invoice. You now need to enable this feature in the new client company you're setting up. Take a look at the steps below 1. Select the Gear icon, and select Account and Settings, under the Your company column) 2. _____________ and scroll down to the Online delivery section 3. _____________ to ensure that Attach invoice as pdf is unchecked Can you identify the missing steps?

Step 2: Select the Sales tab, Step 3: From the drop-down list, click on the Online invoice.