QuickBooks Certification Easy Test

You need to enter an expense using your debit card. What account do you put in the field at the top of the form?

Checking

You set up a company and QuickBooks set up a chart account for you. Which of the following is TRUE about you can do. You...

CAN add more accounts later

Which section of the Balance Sheet shows your Account Receivable balance?

Assets

Your company would like to sell their products online. They ask you to look for an app that makes it easy for customers to buy online. However, they also want you to be efficient. They do not want you to manually enter the sales into QuickBooks. They want the sales to automatically update QuickBooks. What's a good place to start looking for an app that can do this?

the apps tab in QuickBooks

You created an estimate for a customer. When does the customers balance go up?

when you invoice based on the estimate

Select the three statements that are true about using the QuickBooks app on a mobile device. (choose 3)

-There is a QuickBooks app for Android and Apple (iOS) devices -the mobile app uses built in functionality of your device (E.G the camera to take pictures of receipts or other documents to attach to transactions) -the mobile app is free

You accidentally entered the same customers twice (The first time you spelled the first name JOHN, the second time you spelled it JON). You only want ONE customer on the list (JOHN Melton)

1. Click customers Jon Melton 2. In the Display Name field, enter the name you want to keep 3. Click Yes when QuickBooks asks if you would like to Merge the names

You suspect that your staff accountant is changing transactions in QuickBooks. List the steps in the correct order to see what changes the staff accountant has made.

1. Click the GEAR icon on the top bar 2. Click the audit log

Pull the 2 steps for customizing an invoice in the correct order (Note: You only need 2 steps)

1. Click the icon 2. Select Custom Form Styles

You want to send the accounts receivable aging report automatically to your collections team via email at the end of each month. Evaluate each statement below and select the correct statement.

A report must be saved as a custom report before it can be set to be emailed automatically each month.

Available in the company settings, what are two options for categorizing sales and expenses into different locations and departments of a business?

Classes and Locations

If you DON'T download bank transitions, how do you enter a business lunch paid for will the company debit card?

Click the Global Create button and select Expense. Fill out the expense and use Debit Card as the payment method.

How do you find the company settings in QuickBooks?

Click the icon on the home page and select Account and Setting.

You have a customer Who hires you to work on several projects. How do you keep the sales and expenses for each project separate so you can run reports to see how profitable each project is?

Create a new customer for each project and make each one a sub-customer of the "parent" customer

You have completed an invoice to one of you customers. You select Save and Send at the bottom of the form. What information must be entered before using this option?

Customers email address

Which transactions CAN be made recurring?

General Journal Entry

How can you see a list of keyboard shortcuts in QuickBooks?

Hold down the "CTRL", "ALT" and "?" keys at the same time

Which of the following statements about Users is TRUE?

In addition to Regular or Custom user you can also set up Reports only and Time Tracking only users.

Which of the following is true regarding Journal entries?

Journal entries require a good understanding of debits and credits and a great deal of care should be taken by non-accountants when answering them.

Your company has sales reps, and you need to keep track of the sales rep associated with each sale. How would you track sales reps on sales forms?

Navigate to Account and Settings, and in the Sales category of settings create a custom field for sales rep.

You just BOUGHT something from a CUSTOMER. How do you set this customer up as a VENDOR in QuickBooks?

Navigate to the vendors list and create a new vendor. In the "display name as field", enter the customer's name, but add something unique, like "(vendor)" at the end of the name.

What limitations does QuickBooks have when it comes to browser access?

None of the above

Your employer hates that if anyone looks at her computer while she's on the home page, they can see her bank balances, profit and loss, and other sensitive financial information. How can you solve this?

On the home page, select "Privacy Mode" to turn it on

Which report is also known as a statement of performance, and summarizes income and expenses for a period of time?

Profit and loss

You were hired to set up QuickBooks for a consulting company. The owner asks you to set up the chart of accounts for that industry. This is easy because...

QuickBooks automatically creates a chart of accounts for you based on the industry. And you can edit this list later to remove accounts you don't need, or add ones that you do.

You are setting up a product or service. What happens if you select the box next to "I purchase this product/service from a vendor"?

QuickBooks provides fields so you can track purchases of that product/service (in addition to sale)

You returned some office supplies you recorded on bill #4455. You haven't paid the bill yet. Which is the correct sequence of steps to record the Vendor Credit and apply it to the bill payment.

Step 1: Click the Global Create button and select Vendor Credit. Enter the information on the from and save the transaction. Step 2: Click the Global Create button and select Pay Bills. Select the bill to apply the credit towards. Step 3: Enter the amount of credit to use in the Credit Applied column. Step 4: Save the bill payment.

Which of the following is NOT a list in QuickBooks Online?

Subcontractors

A customer has previously been made inactive and you have been asked to make them active again. What would you select first on this screen to make customers active again.

The drop-down menu next Amy's Bird Sanctuary in the ACTIVE column

Your company is interested in tracking sales by products and services. Select the statement which is true if you choose to record sales using a journal entry Instead of an invoice or Sales Receipt.

The goal of tracking sales by products and services will be accomplished by using a journal entry because you can identify the customer on a Journal entry form.

What do you use Term for in QuickBooks?

To determine when a customer's invoice is due

Why would you hide (or collapse) subaccounts on a report?

To temporally hide unnecessary detail and only show parent accounts

Select the statements that's true about the Apps in QuickBooks.

Use it to find an app designed for a specific business function that also syncs with QuickBooks, so you don't have to enter data twice.

You printed a check from QuickBooks. Before you can send it to your vendor, you spill coffee on it, ruining the check. How do you handle this?

Void the check

your boss asks you to remove an account from the chart of accounts (you don't use it anymore). How would you do this?

You cant' delete an account from QuickBooks

You set a closing date to make sure no one changes anything dated on before December 31st of last year. However, people are still making changes! Why is this happening?

You didn't set up a password for your closing date

When you sell a product/service on an Invoice or Sales receipt, how does QuickBooks know where to show those sales (income account) on the Profit and Loss?

You select an income account during the setup of the product/ service. Sales of that product/service increase the income account you selected.