ProAdvisor Certification Prep

Which type of transactions cannot be tagged at this time within QuickBooks online?

Journal Entry

How could a client move funds from a savings account into a checking account?

By using the Transfer feature by selecting + New, then Transfer, and entering the details

Emma received six checks from her customers for outstanding invoices that will be deposited at the bank. What is the first step in QuickBooks Online that must be completed prior to recording the deposit?

+New > Receive Payment

When you're using QuickBooks online accountant where can you view apps that are connected to a client's QuickBooks Online?

Apps > Firm Apps

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

If a client is using Classic View for their reports, which 2 of the following reports can they filter by Customer Type?

Sales by Customer Type Detail Customer Contact List

Which of the following statements are true about how you can resolve these discrepancies? Select all that apply.

If you re-enter and rematch the Expense transaction, you'll need to mark it as reconciled to remove it from this report You can correct the amount of the check paid to Chin's Gas to match the value of the reconciled transaction You can re-enter and rematch the Expense transaction

Where would you go to enable account numbering in the chart of accounts?

The Advanced tab in Account and Settings

Which 2 options could you select to jump directly into a client's QuickBooks Online company?

1 and 5

What's the minimum number of similar businesses used to generate an industry benchmark?

10 **30 40 20

How many parents can a location have in QuickBooks Online?

**1 2 5 As many as are needed

How many parents can a sub-customer have?

**1 3 5 As many as needed

What is a clearing account?

**A bank type of holding account whose balance should always be zero An expense account used to record transfers between accounts A temporary income type of account used for deposits

What is the only type of company for which you should manually enter a non-zero initial quantity on hand for inventory items during setup?

**A company already in business and using inventory, and that's just starting to use QuickBooks Online A completely new business, and new to QuickBooks Online A company already in business with inventory set up in QuickBooks Online, and inventory imported from QuickBooks Desktop A company setting up inventory items via QuickBooks Online Accountant

Which 4 of these items or transactions do you need to create to record a bounced check and any related fees?

**A credit memo to post the fact that the first invoice is no longer outstanding **A service item for the bank charges A service item for the failed payment **An expense to post to the Bank Charges expense account **An invoice to increase accounts receivable for the amount of the bounced check—and any fee you are charging An exact copy of the original invoice marked with a "C" to indicate it is a copy

To correct the sales tax liability on an invoice converted from QuickBooks Desktop, you should create a zero dollar sales receipt in QuickBooks Online. To do this, you'll need to set up some new items in the Products and Services list. Which of the following items should you add? Select all that apply.

**A service type item to record sales tax adjustment A non-inventory item to record sales tax adjustment **A service type item to post the sales tax to the Sales Tax Payable subaccount of the relevant tax agency **A bundle containing the new sales tax adjustment item on two rows: one row with a +1 quantity and the other with a -1 quantity A bundle containing the new sales tax adjustment item on one row (with a quantity of +1) and the new item for posting the sales tax to the Sales Tax Payable subaccount on another row (with a quantity of -1)

Which 2 of these could you apply a vendor credit to?

**An existing unpaid bill An existing paid bill **A future bill from the vendor A future invoice

What will the conversion tool do if you select Create a new company instead of selecting an existing QuickBooks Online company from the list?

**Automatically set up a new 30-day free trial QuickBooks Online Advanced subscription Take you to the QuickBooks website, where you'll be asked to set up a new QuickBooks Online account and subscription Ask you to create a new QuickBooks Online account and subscription Display an error message saying that you need to select an existing QuickBooks Online company

Which report is best for helping a client decide whether they have enough cash to invest in a new truck or piece of machinery?

**Balance Sheet A/R Aging Summary Sales by Product/Service Summary Inventory Valuation Summary

Which summary report shows whether the assets the business owns are enough to offset its liabilities and leave a net equity balance after the liabilities have been paid off?

**Balance sheet report Profit and Loss report Inventory Valuation Detail Statement of Cash Flows

Which QuickBooks Online Advanced feature can you access from + New?

**Batch transactions Custom report builder Tasks Priority Circle

Which 2 reports can be run in QuickBooks Online based on an existing budget?

**Budget vs. Actuals report Budget Profit and Loss report **Budget Overview report Budget Summary report

Shruti created an estimate for a client's project, but the Estimates vs. Actuals tile (and report) don't show the estimated costs and income detailed in the estimate. How can Shruti make sure the Estimates vs. Actuals tile (and report) reflect the estimated costs and income? Select all that apply.

**Change the status of the estimate to Accepted or Closed Wait until QuickBooks Online Advanced automatically refreshes the data every four hours Change the status of the project to Completed Create a purchase transaction **Create an invoice

In which 3 ways can you customize a client's chart of accounts?

**Changing names of default accounts **Numbering each account **Merging accounts Deleting an account permanently

Which 3 of these options can you choose from the Suggested rules pop-up screen?

**Create rule **Edit rule Delete rule **Don't show this again

Which 2 of these does QuickBooks Online do when an inventory sale is recorded on an invoice or sales receipt?

**Decrease the quantity of the product in the Product & Services list and inventory reports Debit Inventory and credit Cost of Goods Sold (COGS) Increase the quantity of the product in the Product & Services list and inventory reports **Credit Inventory and debit Cost of Goods Sold (COGS)

Which 3 of these types of data can't be restored using Online Back-up and Restore?

**Exchange rates Custom reports **Unreviewed bank feeds Recurring transactions **Attachments

Which 3 of these user roles are available by default in QuickBooks Online Advanced?

**Expense Manager **Sales Manager **Payroll Manager HR Manager

Which tab in the Expenses center lists the client's recent purchase transactions?

**Expenses Vendors Bills Contractors

Which 5 options do you have for saving custom reports in QuickBooks Online Advanced?

**Export them to Excel **Export them in CSV format **Save them to the Favorites list in the Reports center **Export them as PDF files Export them as PNG (image) files **Save them under the Custom reports tab in the Reports center Export them to Google Drive

Which 2 of these tasks does the Books review center help with?

**Finding transactions with outstanding issues Reviewing business key metrics and trends **Dealing with unreconciled accounts Running payroll

Which option on the Custom report builder screen would you select to switch between accrual and cash reporting?

**General options Group More actions Columns Filter

Which of the following could indicate that a client is ready for QuickBooks Online Advanced? Select all that apply.

**Gross annual receipts have reached or exceed $500K The client has more than 1,200 customers They need 5 user seats on QuickBooks Online **The chart of accounts is approaching its limits

As a ProAdvisor, how can you help clients who struggle to keep up with their workflow?

**Help them set up automated processes in the Workflows menu Advise them to use the QuickBooks Online Advanced desktop app instead of the browser version Refer them to Priority Circle for additional support Advise them to hire more accounting professionals

Which statement is true regarding the "See the math" link when you're creating an invoice?

**If the sales tax is calculated based on a custom rate, you can use this link to override the tax amount If the sales tax is based on a custom rate, you can use this link to indicate if you are shipping an item If the sales tax is based on location, you can use this link to edit the Tax Categories and Totals If the sales tax is based on location, you won't see a "See the math" link at all

What 3 options do you have when creating a progress invoice from an estimate in QuickBooks Online?

**Invoice for a total of all estimate lines: All the lines are invoiced at 100% of the estimate **Invoice for a percentage of each line: All the lines are invoiced at a fixed percentage of the estimate **Invoice for a custom amount for each line Invoice for additional lines

When a client is invoicing a customer for billable time, what does QuickBooks Online do if the service/task wasn't specified on the time activity?

**It uses its default Hours service item It does not add the time to an invoice It displays an error message when adding time to an invoice It shows an error message when saving the time

Which 3 of these statements are true about bank-to-bank transfer matching?

**It works for both bank and credit card accounts **If it detects 2 transactions in different bank accounts sharing the same date and equal but opposite amounts, it flags each as paired to another transaction If it detects 2 transactions in different bank accounts sharing the same date and equal but opposite amounts, it automatically adds them **Bank-to-bank transfer matching only works with connected accounts in the Banking center

Which 3 of the following statements are true about the Reclassify transactions tool?

**It's only accessible in QuickBooks Online Accountant and QuickBooks Online Advanced It allows you to recategorize transactions in batch It allows you to change the payment account (bank or credit card) for expenses It allows you to change the class and/or location of transactions

Which 3 statements about converting customer jobs in QuickBooks Desktop to QuickBooks Online are correct?

**Jobs will only convert to QuickBooks Online if the client has signed up for either a Plus or Advanced level subscription If Payroll is enabled in QuickBooks Desktop when you convert the file, all jobs will convert as sub-customers **If a client has signed up for QuickBooks Online Plus or Advanced, all jobs will convert as sub-customers If Payroll is disabled in QuickBooks Desktop when you convert the file, you can choose whether to convert jobs as sub-customers or projects **Any customer jobs with levels of sub-jobs will convert as sub-customers

Which 3 of the following statements about recording payments to vendors eligible for 1099s are true?

**Not all payments should necessarily be included on a 1099-NEC Payments to 1099-eligible vendors made by debit card shouldn't be included on a 1099-NEC **You can mark a vendor as being eligible for 1099s when editing their details **Payments to 1099-eligible vendors made by credit card should be included on a 1099-NEC

Which 2 of these statements are true about scheduled reports in QuickBooks Online?

**Only reports saved as Custom reports can be set up as scheduled reports Reports can only be scheduled for a defined period of time **You can send scheduled reports in PDF or spreadsheet format You can send scheduled reports as a link in an email

Which of these activities will help you check how sales tax is set up in a QuickBooks Desktop company? Select all that apply.

**Open Preferences and check that "Do you charge sales tax?" is enabled under Sales Tax Go to My Company and check that a sales tax agency is listed under Company Information Look at the Other Names list to see if any sales tax agencies are set up **Open the Item List and check that it includes sales tax items

Which tab will give the client a visual overview of their unbilled, unpaid, overdue, and recently paid sales activity?

**Overview All sales Invoices Estimates Payment links Customers Products and services

Below is a list of inventory features that are available in QuickBooks Desktop. Which of these features are also available in QuickBooks Online Plus and Advanced? Select all that apply.

**Partial purchase orders Sales orders Inventory center Units of measure **Setting and maintaining inventory re-order points

How can clients with Priority Access contact 24/7 premium support? Select all that apply.

**Phone **Chat Walk-in centers Email

Which of the following could lead to a discrepancy between the Profit and Loss report and the Sales by Product/Service report? Select all that apply.

**Purchase transactions posting to an income account Expenses posting directly to an expense account **Journal entries posting to an income account **Products and services posting to non-income accounts Purchase transactions posting to a balance sheet account

Which 3 of these statements are true about invoices when the markup is turned on?

**QuickBooks Online automatically sets up a Markup account and posts to markup there Customers see the markup on a separate line **You can change where the markup posts in Account and Settings **Customers see the full amount of the expense being invoiced including the markup, but the markup amount isn't shown

Which feature in QuickBooks Online could help a client who often miscategorizes payments to a credit card?

**Receipt matching Pay down credit card Mileage tracking Instant deposits

Which of these actions could cause accounts receivable (A/R) and accounts payable (A/P) accounts to be over- or understated? Select all that apply.

**Recording a bill payment, then deleting the original bill **Creating an invoice, then posting the payment to income Recording a payment received before creating an invoice **Entering a bill, then posting the payment received as an expense instead of a bill payment **Creating an invoice, then creating a sales receipt to record the payment Posting a check to accounts payable to pay a bill

From here, what are the 2 ways that you can start setting up QuickBooks Bill Pay?

**Select + New followed by Bill. Enter the bill details, then select Save and schedule payment **Select Schedule payment in the Action column for the unpaid bill Go to the Gear icon and select Pay Bills from the Tools category Select + New followed by Schedule payment Select + New followed by Expense. Enter the bill details, then select Save and schedule payment

Which 3 of these types of businesses or organizations are typically not subject to sales tax?

**State, local, and federal government Pharmaceutical companies Legal services companies **Resellers of wholesale goods Transport services companies **Nonprofit organizations

From which 4 locations in QuickBooks Online Advanced can you access Spreadsheet Sync?

**The + Create new report dropdown in the Reports center **The Advanced tab in Account and Settings The Accountant Tools menu **The Gear icon The Spreadsheet Sync tab in the Reports center The My accountant menu in the left-hand navigation **The Create in Spreadsheet Sync button in the Budgets tool

Where do you enable the Attachment column for use with invoices?

**The Grid Gear icon on the Batch Transactions screen The Advanced tab in Account and Settings The Add columns button on the Batch Transactions screen The Action dropdown on the Batch Transactions screen

From which two locations can you add a company logo to the header of the report?

**The Header/Footer section of the Customize report drawer **By selecting the header area of the report The Visual section of the Customize report drawer The panel, after selecting Save customization The Grid Gear icon above the report

If you find negative inventory of a particular item, you should run an Inventory Valuation Detail report for that product. Which 2 statements about this report are correct?

**The QTY column represents the count of products bought or sold on that transaction The Cost column represents the FIFO estimate in QuickBooks Online of the value of the product sold **The QTY ON HAND column represents the running count of product on hand The QTY AVAIL column represents the quantity available to sell after the transaction is complete

Where would you go to enable the Price rules feature?

**The Sales tab in Account and Settings The down arrow next to the New button on the Products and Services screen The More button from the Products and Services screen The Price rules option from the Gear icon

Your client receives two checks from two different customers. The client records the payments against the relevant customer invoices and posts the individual amounts to Undeposited Funds. They then deposit the checks the next day. When the deposit comes through bank feeds, the client posts it to an income account rather than looking for a match and then clears it when reconciling at period end. What problems is this likely to cause at period end? Select all that apply.

**The Undeposited Funds account will be overstated The income account will be understated **The income account will be overstated The Undeposited Funds account will be understated

What issues with lists might you need to fix in a client's QuickBooks Online company at period end? Select all that apply.

**The Vendor and Customer lists are too long **There are duplicates in the Product and Services item list **The chart of accounts is too complicated and could be simplified **Clients may be close to the usage limits for lists based on their subscription

What is the impact on reports if you delete a Profit and Loss account that has a non-zero balance?

**The account will show on reports with (deleted) appended The account will not show on the reports The account will show, but with a zero balance The account will show, but with a negative value

One of your clients is using sub-customers to track their jobs. They want to convert some of these to projects so they can run a Project Profitability report. However, the client can't find the link to convert sub-customers in the Customer center. Which 2 of these are possible reasons for this?

**The client can't enable the Projects feature at their subscription level The client didn't convert all their sub-customers to projects The client didn't enable the Track expenses and items by customer option in Account and Settings **The client hasn't enabled the Projects feature in their company

Which 2 options are true for zero dollar expenses?

**The debit part of the entry should be entered on the check as usual on an account or item The debit part of the entry should be entered as a negative amount on an account or item **The credit part of the entry should be entered as a negative amount on an account or item The credit part of the entry should be entered as a zero amount on an account or item

Classes affect only ____________________ of the transaction. Which option correctly completes this sentence?

**The target lines, but not the source The sales information, but not the billable charges The account detail, but not the customer detail The source, but not the target lines

Which is a reason that QuickBooks Online might not suggest a match for a bank transaction?

**The transaction is less than $0.10 in value The transaction was entered automatically by a rule The transaction is posted to the wrong bank or credit card account

Under which circumstances might a client choose to set QuickBooks Online to never suggest categorizations from a vendor?

**They purchase different things from the vendor that apply to different accounts They don't use the vendor regularly enough to warrant utilizing a rule They regularly purchase the same things from the vendor at regular intervals

Which 3 of these accounts can't be merged in the chart of accounts?

**Uncategorized Asset **Retained Earnings **Opening Balance Equity Bank Charges

When reviewing a client's books, you find several invoices that need to be written off. The client uses accrual-basis reporting and the invoices to be written off are in a closed period. What's the approach to use to write off the invoices?

**Use a credit memo Create a zero dollar sales receipt Make a journal entry Use the Write off invoices tool

Which 3 of these maintenance activities can help you repair a QuickBooks Desktop data file?

**Using QuickBooks File Doctor Copying the file to a network drive and verifying the data from there Trying to correct the file yourself based on the verification report **Exporting the file to another QuickBooks Desktop company **Using the Rebuild Data tool

Which 4 of the following visualization options are available in the Performance center?

**Vertical bars **Pie chart **Histogram **Stacked bars Semivariogram Trend line

Which 4 of the following visualization options are available in the Performance center?

**Vertical bars **Pie chart Histogram **Stacked bars Semivariogram **Trend line

What are 2 options for checking for unbilled charges, including unbilled time?

**View the Unbilled Charges report **Select the Unbilled Activity segment of the money bar in the Sales center View the Transaction List by Vendor report View the Time Activities by Employee Detail report

You're reviewing your client's credit card account when you find an outstanding transaction. Depending on what caused the error, which 3 of these methods could you use to correct the account balance?

**Void the transaction **Delete a duplicate transaction Unreconciled the transaction **Adjust existing entries

Which of the following statements about importing lists into QuickBooks Online are true? Select all that apply.

**When importing a chart of accounts, the account type and detail type must match QuickBooks Online's predefined options for each field **Lists must be imported one at a time If QuickBooks Online identifies a name that already exists, it asks you not to import it When you import a Products and services list, parent items and sub-items will both be set up as items in QuickBooks Online

Which of these statements about the Revenue Recognition feature in QuickBooks Online Advanced is true?

**When revenue is scheduled to be recognized, QuickBooks Online Advanced recognizes it on the last day of the month The Revenue Recognition feature is only available for clients using Class and/or Location tracking Revenue Recognition can be used with all Product and Service item types When using Revenue Recognition, the price entered on the invoice should be the income to be recognized at the scheduled frequency

Where can you find the workflows you've already set up?

**Workflows > My Workflows Tasks > My Workflows Gear icon > Active Workflows Workflows > Templates

What are the 5 stages of the books review process in the Books review center in QuickBooks Online?

**Wrap-up **Account reconciliation **Transaction review **Setup **Final review Running payroll Preparing for taxes

Which 2 statements related to classes and tags are true?

**You can assign multiple tags to transactions **The Profit and Loss by Tag Group report can show columns for multiple tag groups Tags might be a good solution for clients who only need classes and locations, but no other Plus or Advanced features

Where do you go to create a custom role?

+ New > Manage users > Roles **Gear icon > Manage users > Roles Left-hand navigation > Workers > Roles

Which option would you choose if a client wants to record regular, flat-fee jobs and invoice the customers at a later date?

+ New > Receive scheduled payment **+ New > Delayed charge + New > Delayed credit + New > Vendor charge

Which 3 of the following statements are true about QuickBooks Online Accountant?

It's where you'll find the ProAdvisor training It is the platform through which you access your clients' QuickBooks Online files It allows you to manage your team

Which billing options allow clients to pay their QuickBooks Online subscription fees directly themselves? Select all that apply.

Revenue Share Direct Discount

What's the best way to compare two reports at the same time in QuickBooks Online?

Right-click on Reports in the left-hand menu to open in a new window, and pull up the second report there

Which 2 statements are true regarding using bank rules in QuickBooks Online?

Rules apply to unaccepted transactions only QuickBooks Online only applies one rule per transaction

What's the best way in QuickBooks Online to show clients trends in their income and expense accounts over time?

Running a Profit and Loss report every month and saving them as custom reports to collate them later Running a Profit and Loss report every month and keeping a spreadsheet of the figures Running a Profit and Loss report and a Balance Sheet report and comparing the figures **Running a Comparative Profit and Loss report and comparing performance to the previous period, year, or year to date

From here, where would you go to start creating an estimate for a potential customer?

Sales > Customers **+ New > Estimate Projects > New project Gear icon > Budgeting

Which report would you use to show the least popular products?

Sales by Product/Service Summary

You're adding service items with a description to a daily sales summary transaction. For which of the following items would it be helpful to add "should be positive" to the description?

Sales items

One of your clients runs a bakery. Which of the following sales transaction should they use to record a day's sales in QuickBooks Online?

Sales receipt

How can the client change the template for this sales receipt?

Select Customize at the bottom of the form, then choose the appropriate template from the list You can't change the template style from within a form itself. The client needs to use the Custom form style tool Once the form is complete, the client can select Print or Preview at the bottom and change the form style from there **Select the small Gear icon at the top of the form, then go to the Customize section and choose a different template

Keyboard shortcuts can help you work faster in QuickBooks Online. What two ways can you access the list of keyboard shortcuts?

Select [Ctrl] + [Alt] + [?] simultaneously ([CMD] + [⌘] + [?] on a Mac) Select the Help button from the top of the page

What are two ways to begin setting up a Recurring Transaction in QuickBooks Online?

Select the Make recurring option at the bottom on the desired transaction Gear > Recurring transactions

How can you edit the details of an existing customer?

Select the customer's name from the list, then select Edit in the Customer details panel

Below are the steps to successfully export bank rules: Select Transactions from the left-hand navigation Go to the Rules tab ________________________________________ Save the XLS file of the bank rules somewhere convenient, then select Close What's the missing step?

Select the down arrow on the New rule button and select Download template **Select the down arrow on the New rule button and select Export rules Select the Grid Gear icon and select New rule Select the Grid Gear icon and select Export rules

What 4 things can be done in the wrap-up tab of books review in QuickBooks Online Accountant?

Send Report Packages. Close the books Prepare Reports Create an additional to-do checklist

Which 3 of these can you do from the team menu in QuickBooks online accountant?

Send messages to team members. Create tasks and projects for users. Add A new team member

There are four item types to choose from in QuickBooks online: This includes services that are provided to customers, such as an emergency service call visit or other labor. This is a collection of products and services that are sold together, such as the installation of a product that includes both labor and materials. These are products that are bought and sold, and where it is necessary to track quantities on hand. These are products bought and sold where it isn't necessary to track quantities on hand, such as small parts used int he installation or delivery of a product.

Service Bundle Inventory (in QuickBooks Online Plus and Advance Only) Non-inventory

Which 2 of these would you need to do before you could turn an estimate into a purchase order?

Set the status of the estimate as Closed **Have a QuickBooks Online Plus or Advanced subscription **Enable the purchase orders option in Account and Settings Set up an Estimate reminder workflow from the Work menu

Which 2 of the following actions could you take to redo a conversion via QuickBooks Online Accountant?

Set up a new QuickBooks Online Advanced company subscription for the client and move the data there **Carry out the conversion again and, when prompted, reselect the QuickBooks Online company to overwrite the data **Purge the existing data from the QuickBooks Online company, then carry out the conversion again Make the QuickBooks Online company inactive, then carry out the conversion again

Why do your clients need to add a journal entry when they create a zero dollar sales receipt to cover some samples they're giving to a customer?

So that the cost of the inventory will affect Promotions expense rather than Cost of Goods Sold (COGS) To keep a record of all the free samples given away to customers **To address the resultant disparity between the income account and the Cost of Goods Sold (COGS) account

Projects help clients organize all the transactions that make up a customer project and track profitability. To which other transaction categorization feature is Projects most similar?

Sub-customer

Which 3 of these payroll items in QuickBooks Desktop don't convert automatically to QuickBooks Online?

Tax liability payments **Individual paycheck detail Company payroll information Paychecks **Tax payment history **Local tax settings

What is the Undeposited Funds account (also called Payments to deposit)?Select the correct option from the dropdown. The Undeposited Funds (or Payments to deposit) account is meant to be a Select answer holding account that tracks payments received from customers that Select answer been deposited to your client's bank account. Its main purpose is to make reconciliation easier by Select answer .

Temporary Have Not Combining Multiple Transactions into a single record

How would you complete this statement about the different accounts when setting up a service with revenue recognition? Select the correct option from the dropdown.

The (LIABILITY) account is where the funds are held until the revenue is scheduled to be recognized. QuickBooks Online Advanced then increases the balance in the (INCOME) account each time revenue recognition occurs.

Where can you enable account numbers for an existing chart of accounts in QuickBooks Online?

The Advanced tab in Account and Settings

What part of the Reports center offers customizable professional-style report packages complete with cover page, table of contents, preliminary pages, reports, and end notes?

The Business overview category **The Management reports tab The Custom reports tab The For My Accountant category

In classic view, where would you go to make negative numbers in a report appear in a red color?

The Customize button and then the General section

In which area of the Reports center can you create charts to visualize a company's financial data?

The For My Accountant category in the Standard tab **The Performance center The Custom reports tab The Management reports tab

Starting from here, where would you go to add a new customer to QuickBooks Online?

The Gear icon at the top right The + New button at the top left **Sales in the left-hand navigation Expenses in the left-hand navigation

Where would clients with QuickBooks Online Advanced go to access Premium Apps?

The Premium Apps menu from the left-hand navigation The Apps screen from + New The Advanced section in Accounts and Settings **The Apps menu from the left-hand navigation

If you're importing an existing products and services list, which 2 of these are reasons why you should use the sample file from QuickBooks Online to populate and import your client's data?

The Products and Services fields in the sample file are automatically pre-populated with the correct data for clients' activities The sample file is formatted with the correct company logo and font styles **The first row of the sample file contains the right column headings, which ensures that data maps to the correct fields during the importing process **It saves you from having to create a new file from scratch

For each business function in the first column, what happens when you choose an option from the Yes/No column?

The recommended QuickBooks Online feature that delivers this function is automatically marked as Yes in the QuickBooks Features and Solutions tab

What are 3 reasons why QuickBooks Online might not suggest a match for a bank transaction? The transaction is posted to the wrong account The transaction is outside the date range in which QuickBooks Online searches The amount of the transaction posted in QuickBooks Online is greater or less than the amount that cleared the bank The transaction was entered automatically by a Rule The transaction was entered automatically by a third-party app

The transaction is posted to the wrong account The transaction is outside the date range in which QuickBooks Online searches The amount of the transaction posted in QuickBooks Online is greater or less than the amount that cleared the bank

Your client wants to invoice a customer for fuel they entered on a bill. The Category detail line specifies the client's Fuel Expense account. They mark the expense as billable and enter the customer's name. Which option correctly describes how QuickBooks Online will record the bill?

The transaction will credit accounts payable (A/P), debit Fuel Expense, and create a billable expense

If you find a discrepancy when you're comparing reports in QuickBooks Desktop and QuickBooks Online, which of these information sources would help provide some insight?

The verification report that was generated when you carried out a verify and rebuild on the QuickBooks Desktop file **The conversion report that was emailed to you as an accountant user when the conversion to QuickBooks Online completed The last reconciliation report for the relevant account(s) that was generated in QuickBooks Desktop

A negative inventory balance occurs when an invoice is recorded in QuickBooks Online and stock levels are below the amount sold. If the quantity on hand is never fully replenished, why won't the inventory asset value and costs be reliable?

They are based on the first cost ever recorded for that inventory item QuickBooks Online guesses the value based on the Last In, First Out (LIFO) method for managing inventory **They are based on QuickBooks Online's guess at the time the sale and cost are recorded

How can a construction company with sites in 3 locations benefit from Location tracking? Select all that apply.

They can identify which locations contribute most to overall profits They can run reports to identify which locations spend more on certain raw materials (such as cement) They can generate reports to show which locations contribute more profit across a particular activity (such as scaffolding)

What are 3 benefits of using apps with QuickBooks online?

They can provide additional insight into various parts of a business They can solve industry-specific needs They can reduce time spent on data entry

So, let's get practical. What does all this mean for your clients? Consider a nonprofit organization that needs to track its: Functions, such as administrative and fundraising activities Expenses related to restricted grants Profitability of specific fundraising events Which of the following are potential benefits of using advanced categorization along with existing accounts and subaccounts? Select all that apply.

They can use customers and either sub-customers or projects to track restricted grant activity They can use tags to track the profitability of their fundraising events They can use classes to track income and expense transactions by function without expanding their chart of accounts

How do memorized transactions that are set to be entered automatically in QuickBooks Desktop convert to QuickBooks Online?

They convert as pending transactions **They convert either as a reminder or an unscheduled transaction They convert as "To do" items in the Task list They convert as recurring transactions affecting Opening Balance Equity Memorized transactions don't convert to QuickBooks Online

A client tells you they can't convert an estimate to a purchase order. Which 2 of these might be the reason?

They use QuickBooks Online Simple Start or Essentials They haven't enabled purchase orders in Account and Settings

Which 2 of these characteristics would indicate that a company is ready to move up to QuickBooks Online Advanced?

They want to track classes and locations **They need advisory services to better manage growth They want a cloud-based accounting system **They have more than 10 employees

In a zero dollar expense transaction, why do you need to include a line that's recorded as a negative value?

To balance the other entries and to make the sum of the transaction zero

From here, which 3 methods can you use to create Customer statements?

To create a statement for one or more customers, select Statement from the dropdown next to New customer, then choose the required customers. To create a statement for multiple customers, select each checkbox on the left, then select Create statements from the batch actions dropdown. To create a statement for one customer, open the Customer details screen, then select Statement from New transaction dropdown.

What type of transaction means a customer is committing to purchasing items from a supplier at a specific price?

Vendor credit Bill **Purchase order Expense

How can you check for unbilled charges or time in QuickBooks Online? Select all that apply.

Via the Reports center Via the money bar in the Sales center

Which accountant tool in QuickBooks Online Accountant helps identify transactions that may have been removed accidentally from the company file?

Voided/Deleted Transactions

In the Prep for taxes tool, where would you go to view all the client's accounts in a single column—with columns for debits and credits for the current and prior tax year?

Year-end tasks > Review trial balance Grouping & statements > Run report **Review & adjust > Trial Balance View Review & adjust > Grid Gear icon

Which 2 of these are true about the Work menu in QuickBooks Online Accountant?

You can add as many tasks to a project as needed You can build your own custom template from scratch When the template is on repeat, it can only be repeated for a certain period of time You can assign tasks to your team members, clients, and all your clients' employees

Which of the following statements about adding users to a QuickBooks Online Plus subscription are correct? Select all that apply.

You can have up to two Primary admins **You can have up to two Accountant users Only one user can be assigned as the Company admin **There is a limit to how many Standard users a client can add There is a limit to how many reports-only users a client can add

Which statement is correct about how you can match transactions to bank feed entries in QuickBooks Online?

You can match one downloaded transaction against multiple QuickBooks Online transactions

From here, where can you go in Spreadsheet Sync to create a company group? Select all that apply.

You can't create company groups in Spreadsheet Sync. You can only do this in QuickBooks Online Advanced **Run multi-company reports > Company settings > + Create group **Run multi-company reports > Select group > + Add new group Run a report > Select company > + Add new group Add and edit data > Company groups > + Add new group

One of your clients paid a vendor $1,250 in this financial year for services provided, and proceeds to file a Form 1099-NEC. However, the vendor doesn't show up in the 1099 wizard. Starting from this screen, where would you go to include the vendor in the 1099 filings?

You can't. The vendor isn't eligible for a Form 1099 in this situation Exit the 1099 wizard and go to the Vendor Details page for this vendor, then uncheck the Track payments for 1099 box **Go to the Not tracked for 1099 tab and select Add to tracked list for the vendor Go to the dropdown where it says Reportable payments only and select Non-reportable payments only, then select the vendor from there

Which 2 of these statements are true of using credit memos in QuickBooks Online?

You could use a credit memo when issuing a cash refund **A credit memo can be applied to an invoice for the customer it was created for **QuickBooks Online automatically applies credit memos to customer invoices by default Credit memos can only be created for invoices issued within the past month

Which 3 of these additional services can Priority Circle clients access with QuickBooks Online Advanced?

24/7 chatbot support Accounting pros **24/7 premium support **On-demand QuickBooks training **Dedicated account team

From here, where would you go to assign a customer type to a customer?

??Open the dropdown in the Action column and select Assign customer type **Select the customer to view their details, then use the dropdown at the top to select the relevant customer type ??Select the customer to view their details, then select Edit and scroll down to the Customer type dropdown ??Open the list of customer types, then edit the relevant customer type to add the customer

Which of these is NOT a user type that you can set up for your clients?

??Standard all access Company admin View company reports ??Track time only **Payroll only

Why might an Accountant user not see the Exceptions to Closing Date report in a QuickBooks Online company?

A Closing date has not been set in the company.

How would you best describe a product or service bundle?

A collection of products and/or services that are sold together

What does QuickBooks Online create when you make an adjustment to an account using the Prep for taxes tool?

A delayed charge A refund receipt **An adjusting journal entry A recurring journal entry

Which 2 statements about creating a client request in QuickBooks online accountant are true?

A document request can be sent to a non-QBO client. A document request notification can be sent via email by selecting Notify client.

Which 5 of the following items can you access from the Your Practice area of the left-hand navigation of QuickBooks Online Accountant?

A list of team members The chart of accounts The Work area Apps Reports

Which of the following statements about setting up Location tracking in QuickBooks Online are true? Select all that apply.

A location can have only one parent. You may not assign a sub-location to multiple parent locations You are limited on the number of hierarchical levels of locations

Recording a payment received before creating an invoice is one method of tracking customer prepayments. This method uses the Receive Payment screen to enter the deposit without applying it to an invoice because the related invoice is not yet created.

A positive A/P balance A negative A/P balance **A positive A/R balance A negative A/R balance

Which of the following statements is true about overriding the sales tax calculated for an individual invoice?

A reason for making the override must be entered before the adjustment can be confirmed

Which 3 conditions could lead to the beginning balance of a bank or credit card reconciliation being inaccurate?

A reconciled transaction's payee was changed A reconciled transaction was deleted A reconciled transaction's amount was changed

Which of these businesses could benefit from Class tracking? Select all that apply.

A recruitment company that wants to create separate reports to track sales for the different sectors they recruit for, such as IT, education, and sales A restaurant that wants to track the profitability of the different types of events they cater for, like wedding receptions or conferences An IT company that wants to track income and expenses for different categories such as support services, training, and new installations

One of your clients rents a store for their florist business. They pay the rent at the end of every month via a recurring ACH payment. What expense transaction should your client create in QuickBooks Online?

A scheduled recurring expense

You want to set up a daily sales summary for a client who runs a restaurant. Which options correctly complete the sentence? Select the correct option from the dropdown.

A separate SERVICE ITEM must be created for EACH SALE that shows up on the client's z-tape (end-of-day) report from her POS system.

What role access would an accounts receivable manager need?

Access to Sales and Inventory Access to Sales and Workers **Access to Sales and Bank deposits

Where do clients need to go to sign up for a new QuickBooks Payments account?

Account and Settings > Billing and Subscriptions Account and Settings > Sales Account and Settings > Advanced **Account and Settings > Payments

What are 3 of the stages in Books review?

Account reconciliation Final Review Transaction Review

Where would you go to find the accountant-only features such as Prep for taxes or Write off invoices?

Accountant Tools

As an accountant user, where can you access and begin reclassifying transactions?

Accounting > Reclassify Transactions

Which of these activities can clients do with sales receipts in QuickBooks Online? Select all that apply.

Add a new customer directly from the Sales Receipt screen Edit the email that is sent to the customer with the sales receipt

What statement is true about the Additional Items in Books review?

Additional items can be exported from one company and imported into another company

When would a client use an expense transaction?

After they've paid a vendor with cash

As you categorize and add similar transactions to QuickBooks Online, at what point will the Banking center suggest a rule?

After you add a second similar transaction

Which 2 types of records does the Exceptions to Closing Date report show?

All changes to transactions dated before the closing date and made before the books were closed **All changes to transactions dated on the closing date and made after the books were closed **All changes to transactions dated before the closing date and made after the books were closed All changes to transactions dated and made after the closing date

What are the benefits of connecting bank and credit card accounts to QuickBooks Online? Select all that apply.

All connected bank and credit card transactions sync with QuickBooks Online All bank transactions can be checked, categorized, and approved to make sure they're correct It cuts down on the amount of data that needs to be entered manually, saving time

You recorded a credit card payment by posting it to the primary subaccount. Then you created a journal entry (dated as of the credit card statement date) to correct the subaccount balances. Which 2 of the following would you expect when you then reviewed the subaccount balances?

All the subaccounts (primary and non-primary) would show their respective liability balances as of the statement date **The non-primary subaccounts would show a zero balance **The total liability would show up in the primary subaccount The total liability would show up in the parent subaccount All the subaccounts (primary and non-primary) would show a zero balance

Which accounts must be assigned to a new inventory item? Select all that apply.

An Inventory Asset account A Cost of Goods Sold account An Income account

How would QuickBooks Online alert you to 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 because the beginning balance is off

Your client, Kelly, wants to send her customer a list of sales receipts, invoices, and payments—with the balance for a specific date range. Which customer statement should she choose?

Balance Forward Open Item **Transaction Statement

What's the only type of transaction you can batch-create, batch-modify, or batch-delete?

Bank deposits Checks Expenses **Invoices Bills Sales receipts

Which 3 statements regarding bank rules are true?

Bank rules can be copies, edited, or deleted Bank rules can be prioritized Bank rules can automatically add transactions to the register

Which 3 predefined management report templates will a client see in their company file?

Basic company financials Company overview Expenses performance

Why is it important to check the accounting method in a report?

Because changing the accounting method may result in different transactions showing in a report

Why can't you use an inventory quantity adjustment to reduce inventory for donations?

Because it doesn't allow you to enter the name of the customer or organization you're donating to

You noticed a rule that mistakenly categorizes transactions from a client's bank feed, so you decide to delete the rule and recategorize each transaction properly. When should you delete the rule?

Before you recategorize the transactions

Which 4 transaction types can be made into recurring templates?

Bill Invoice Pay Bills Receive Payment

If your client wants to record expenses like the dollar amount representing hours worked but not have them influence the financial statements, what type of transaction would still allow them to track job costs?

Billable time Zero dollar invoice **Zero dollar expense Credit memo

Which product/service type is only available to clients with QuickBooks Online Plus or Advanced?

Bundle Service Non-inventory **Inventory

Which field allows clients to store the tax ID number of a vendor to be used in Forms 1099-MISC and 1099-NEC?

Business ID No.

How can you mark a task as completed?

By checking the box in the Due Date column By dragging the task from the Active tasks to the Completed tasks tab By right-clicking the task and selecting Completed **By selecting Mark as completed from the Actions column dropdown

One of your clients wants to link labor costs to a project—and they're tracking time using basic time tracking in QuickBooks Online. (They're not using QuickBooks Online Payroll.) Where would you set an hourly rate for a project?

By selecting Hourly cost rate in the Projects center

What type of reporting displays income and expenses at the time they were incurred?

Cash-based reporting Activity-based reporting Credit-based reporting **Accrual-based reporting

Which of the following organizes financial transactions to allow you and your client to analyze the business's financial data, run financial reports, and prepare for taxes?

Chart of accounts

How can you ensure that a scheduled report is sent as an Excel spreadsheet?

Check the Attach the report as an Excel file box at the bottom of the setup screen

Which 3 of these statements are true about the Cash flow planner tool in QuickBooks Online?

Clients can use the tool on multicurrency transactions **It offers clients a safe place to play with future financials and see how different decisions or actions could affect cash flow **Clients can use the filter function in the tool to include or exclude certain types of transaction **It provides two different viewing options for their cash flow, either by money-in/-out transaction totals per month, or a cash balance view to indicate periods of positive and negative cash flow

When clients add categories in the Expense claims hub, they can add a nickname and a category from the chart of accounts. Which of these statements are true about the categories? Select all that apply.

Clients can't change the category once an expense is submitted The nickname is what appears in the Expense claims hub when clients review the claims **Clients can delete or make unnecessary categories inactive **The nickname is what appears for workers and vendors as an option when they submit an expense

When adding a new vendor, which field should almost always be left blank?

Company Address Website address **Opening balance Account number Cost rate Terms

Which access level would you assign a firm user who needs to be able to modify, update, and access firm information, update billing subscriptions, and access the firm's books?

Company admin **Standard all access Standard all access without payroll

Which 2 management report templates will be seen by default when accessing a clients books via QuickBooks Online Accountant?

Company overview Profitability performanace

What benefits does progress invoicing provide to clients? Select all that apply.

Consistent cash flow Keep contractors paid and happy Better communication with customers

How can you customize this report to find any open balances?

Customize > Filter, then choose Undeposited Funds from the Account dropdown Gear icon > Change columns, then mark the Credit checkbox in Change columns **Customize > Filter, then choose Uncleared in the Cleared dropdown Customize > Rows/Columns, then select Group by Customer

In which 2 formats can you export a management report?

DOCX **XLSX **PDF CSV

Which 2 options do workers and vendors have when submitting expense claims?

Emailing a receipt **Uploading a receipt **Entering the expense manually Using an existing expense as a template

Which type of backup saves everything, including your company data?

Emergency backup Full backup **Complete backup Incremental backup

Which of these actions should you take to create a custom report in QuickBooks Online?

Go to the Gear icon and select Custom reports, then select Add report Select + New from the left-hand navigation, then select Custom report **In the Reports Center, select + New and set up the customized report as required Run a report that will form the basis of the one you want to create. Then customize it as required

One of your clients asks you to add QuickBooks Online Payroll to their existing subscription. Starting from here, where should you go to do this in QuickBooks Online Accountant?

Go to the Gear icon and select Subscriptions and billing, then find the client and select Add Payroll from the Client actions dropdown

One of your clients wants to create a new budget based on actuals data from a previous period. From here, what's the first action the client should take to do this?

Go to the Grid Gear icon next to where it says "Last saved at," then select the Compare data checkbox The client can't do that from here—they need to exit this screen and go back to the previous step of the procedure **Turn on the Compare reference data slider, then—from the dropdown that appears—select the required previous period Select the previous period from the Period dropdown, then select the Copy data link

Which of the following statements are true about using QuickBooks Online to support the filing of clients' sales tax? Select all that apply.

In the sales tax settings, your clients can edit the filing basis for reporting for each sales tax agency without affecting their chosen accounting method for their books If your client entered an error in payment into QuickBooks Online they can delete the return for the period

As well as the usual configuration tasks, which 2 actions should you do before you export the Item Listing report from QuickBooks Desktop and set up the spreadsheet to import into QuickBooks Online?

In the spreadsheet, delete the first word "Cabinet" from the sub-items Cabinets:Cabinet Pulls and Cabinets:Light Pine **In QuickBooks Desktop, make an inventory quantity adjustment to reduce the quantity on hand for both sub-items to zero and increase the quantity on hand for the parent item by 429 (423 + 6) In QuickBooks Desktop, make an inventory quantity adjustment to reduce the quantity on hand for the parent item to zero and increase the quantity on hand for the appropriate sub-item by 3 In the spreadsheet, delete the row for the parent item Cabinets **In the spreadsheet, delete the rows for the sub-items Cabinets: Cabinet Pulls and Cabinets: Light Pine

Which 2 of these common issues does the Pay down credit card feature help to resolve? Duplicate entries Payments categorized to the wrong account Payments being recorded as paid by check Payments being recorded as an expense on the balance sheet

Duplicate entries Payments categorized to the wrong account

A client wants to set up a monthly customer charge for a customer. The charge is a fixed fee, with payment due by the last Friday of the month. Which one of these options would be the best way for the client to achieve this?

A scheduled recurring invoice

What are the 3 ways to capture bills and receipts so that they can be matched to transactions and added to the bank feed?

Forwarding by email Uploading via the mobile app Uploading a file

When are 2 times you might use the Setup screen in the Books review feature?

When changing chart of account names When making adjustments to balance sheet account balances during the clean up process

What user type is appropriate for nonprofit companies that need to provide reporting access to their board members?

View Company Reports

For how many days in advance does the Cash flow tab project your clients' cash flow?

90

Where would you go to view a list of customer statements sent out in the current month?

Reports center > Statement List report

Which 3 of these areas does the New Client Checklist tool focus on to help gather the information needed to select the right QuickBooks Online subscription for a client?

QuickBooks Features and Solutions Client Profile Needs Assessment

Which statement is true when importing lists into QuickBooks online?

When importing lists, you can choose to overwrite customers with identical names.

In which 3 cases would you use the Add funds to this deposit grid in a bank deposit?

When you need to record an ACH payment of a customer invoice To record the payment of a bill When a company doesn't record income using sales transactions (invoices or sales receipts), and wants to record deposits directly to income accounts

Can users with the right permissions in a client-paid subscription add QuickBooks Online Payroll or QuickBooks Time to their QuickBooks Online company?

Yes, by going to the Billing & subscription section in Account and Settings

Which 2 of these statements are true about the Tasks center? You can export tasks in Excel and PDF format You can only use the Tasks center to monitor work inside QuickBooks Online You can set tasks to repeat at a specified frequency You can attach documents to tasks You can only assign tasks to users with custom roles

You can set tasks to repeat at a specified frequency You can attach documents to tasks

Your client needs a QuickBooks Online solution that includes tracking for: Sales Sales tax Inventory

Plus

Which 2 QuickBooks Online billing options include a discount on QuickBooks Time?

ProAdvisor discount Direct discount

Brian just completed a Client Needs Assessment and his client confirmed that she will require profitability tracking, and needs to create budgets and purchase orders in her accounting solution.What is the minimum QuickBooks Online version suitable for Brian's client?

QuickBooks Online Plus

What should you do before deleting a balance sheet account that has a non-zero balance?

Reclassify the balance

Which of these are true about journal entries in QuickBooks Online? Select all that apply.

You can't use product and service items in a journal entry Total debits must equal total credits

Which 2 statements are true about using a product or service on a purchase form?

You must select I purchase this product/service from a vendor You must be using QuickBooks Online Plus or Advanced

In which of these situations would you use the Add funds to this deposit grid? 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

How would you create a new estimate in QuickBooks online?

+New > Estimate

Where do you select to see only cleared transactions?

4 (filter option)

In which tab of Account and Settings can you turn on Class tracking?

Advanced

What does QuickBooks do if you try to import a customer that already exists in the company?

It displays an error message

Which statement is true about the transfer feature?

The transfer feature can be used to move funds between two balance sheets accounts.

How many conditions can you apply to a single rule?

5

One of your retail clients has had a store for about 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

When you're looking at a transaction journal, which component of a transaction includes the date, memos, accounts, class, and job?

Source

What 4 pieces of information does QuickBooks Online with Automated sales tax use to calculate sales tax on an invoice? The customer's payment terms The customer's sales tax status The quantity of the product or service still on hand The tax category for the product or service The location of the sale The state where the company's registered

The customer's sales tax status The tax category for the product or service The location of the sale The state where the company's registered

Your client records payments from customers in QuickBooks Online as they receive them throughout the day. They just deposited 4 checks at the bank. What's the next step they have to do to deposit those payments in QuickBooks Online?

+ New > Bank deposit

What are 2 features QuickBooks Time Elite has that Premium does not?

Ability to analyze project estimates verses actuals Ability to use geofencing

Which 3 of these can a Company admin user do in QuickBooks Online? Change their user level to Primary admin Add new Primary admin users Change the QuickBooks Online subscription Manage existing users Access the client's other products, such as QuickBooks Payroll and QuickBooks Payments

Access the client's other products, such as QuickBooks Payroll and QuickBooks Payments Change the QuickBooks Online subscription Manage existing users

Where is the toggle switch to turn off automatically applied credit memos?

Account and Settings > Advanced

What are 2 ways to update the chart of accounts to suit the needs of your client?

Batch connect accounts to the Banking center Make unnecessary accounts inactive in batch

Which 3 billable charges can you invoice at a later date in QuickBooks Online? Delayed charges Billable stationery Estimates Billable expenses Billable time

Billable time Delayed charges Billable expenses

Before merging two sub-accounts, which 2 of these need to be true?

Both accounts are inactive The names are spelled the same

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

Which 3 of the actions below can be performed when using progress invoicing in QuickBooks Online? Copying line items directly from an estimate to a bill Copying line items directly from an estimate onto an invoice Editing individual invoice lines to change their amounts Calculating the percentages of line-items on an estimate to be invoiced on invoices Creating multiple estimates from the same estimate

Copying line items directly from an estimate to a bill Calculating the percentages of line-items on an estimate to be invoiced on invoices Editing individual invoice lines to change their amounts

What should you do to streamline the purchasing process once the customer approves an estimate?

Create invoice from the estimate

Which 3 of these are among the details in transactions imported by using the App transactions tab in QuickBooks Online?

Customer Name Quantity Currency

Which 4 list types can be directly imported into QuickBooks Online from Excel?

Customers Products and services Vendors Chart of accounts

What should you do if you notice a duplicate transaction in the bank feed?

Exclude the transaction

What are 2 ways to access the vendor credit screen in QuickBooks Online

Expenses center > New Transaction> Vendor credit +New button> Vendor Credit

Thomas would like his customers to see the full invoice details from within the email itself and have a pdf attached.

Gear > Custom form styles

From here how can you access and create custom fields in QuickBooks online?

Gear icon > Account and Settings > Advanced > Customize

In QuickBooks Online, what 4 data points do you need to set up sales tax for a client who only does business in their home state?

How often they have to file a tax return When they started collecting sales tax for the agency Their company address When their last tax period started

Your client wants to add an additional tag to transactions on an invoice. However, the tag isn't on their existing list of tags. Which 2 of the following are ways to create a new tag? Open the Products and Services list and select Edit for the required product or service. Then select + New from the Tags dropdown 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 Select the Manage tags link in the Gear menu, followed by Create tag. Then enter the tag name

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

How do you make a report available to be sent via email on a scheduled basis?

Select Save customization on the displayed report and save it as a custom report

Your client has made a tax payment on the relevant state's website. What should you do to record the payment for the client?

Select View return for the required tax return, then select Record Payment

A client messaged you saying that there might be something wrong with the bank feed of their checking account. What would be the first thing to do to see if the bank feed will refresh?

Select the Update button in the Banking center

Which 3 types of customer statements can QuickBooks online generate?

Statements that show a balance forward and then all activity between two specified dates Statements that show only open transactions Statements that show sales transactions and payments between two specified dates

If you think sales tax isn't being calculated correctly, which 2 of these should you verify?

That the correct tax category is selected That the tax is being calculated on the correct address

While preparing your client's books for year end, you find some transactions that may not have been recorded appropriately. 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 To change the account or class for inventory adjustments To change the payment account (bank or credit card) for expenses

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

Which 4 sections of the Overview screen can be used to perform a high level review on QuickBooks Online?

Transaction Volume Common Issues Company Setup Banking Activity

Which feature in QuickBooks Online allows you to apply a refund to an existing or future bill?

Vendor credit

Which option would you select to display inactive clients in the Clients menu?

The Grid Gear icon and select the Include inactive clients option

Where should a client initiate the setup of QuickBooks Payments?

The Payments tab in Account and Settings

A client has created an estimate in QuickBooks online plus. They've selected Copy to purchase order. Why might a certain product/service item from the estimate not appear on that purchase order?

The product/service item doesn't have "I purchased this product/service from a vendor" checked

If you want to remove a customer in QuickBooks online what must you select from the action column?

Make inactive

Where would your client navigate to view the status of a bill payment?

Open bill payment > More > View online payment

Where in the bank feed can you match or add transactions?

The For review tab

Which 2 problems does the pay down credit card workflow solve for clients?

It uses language that non-accountants can understand It ensures that payments to credit card accounts are categorized correctly.

Which 3 of the following statements are true about Spreadsheet Sync?

Spreadsheet Sync only works with Excel Office 365 Spreadsheet Sync lets clients build reports using QuickBooks Online data that refresh with the latest transaction data from the company file Clients can create and edit transactions in Spreadsheet Sync and then post them back into their QuickBooks Online company file Multiple team member can be concurrently logged into Spreadsheet Sync for the same company

Your client Amy creates three rules that appear in this order in her Rules list. There are no other rules. Rule 1Assigns all purchases at MotoZpares to an Auto Supplies expense accountRule 2Assigns all purchases at Office Depot to an Office Supplies expense accountRule 3Assigns all purchases over $500 to Fixed Assets When Amy's colleague spends $750 on a trailer at MotoZpares, the purchase is assigned to Auto Supplies. What can Amy change so that the same purchase goes to Fixed Assets instead and MotoZpares purchases of $500 or less are still assigned to Auto Supplies?

Move Rule 3 up to the position of Rule 1

Clients can deactivate custom roles from the Roles tab in the Manage users screen. What would be a reason for not being able to deactivate a custom role?

There are still users assigned to that role

For which of the following should you use the Transfer function in QuickBooks Online?

Moving money from a savings account to a checking account

A client records a transaction that pulls a total of four units from two FIFO layers: 2 x $10 units and 2 x $12 units. How many line entries related to the inventory asset account will appear on the transaction journal for this invoice?

2 line items

Approximately what percentage of QuickBooks Online Plus accounts exceed their usage limits?

2% 1% **8% 5%

What's the minimum number of similar businesses used to generate an industry benchmark?

30

When is the best time to convert a QuickBooks Desktop company file in which payroll is enabled and in use?

At the same time as running payroll in QuickBooks Desktop Just before running payroll in QuickBooks Desktop After setting up payroll in the QuickBooks Online company **Just after running payroll in QuickBooks Desktop

Which report indicates when QuickBooks online users signed in and out?

Audit Log

Your client uses the Deposit feature to record retainers in QuickBooks Online. The customer paid a deposit of $600, and you create an invoice for $1,500 worth of work. Where does the outstanding balance of $900 post in QuickBooks Online when the invoice is saved and sent?

Any remaining balance due on the invoice is posted to accounts receivable

QuickBooks Online uses sources and targets to map transaction data to an account, subaccount, or other advanced categorization option. How many sources are used to define a transaction?

As many as are defined by the categorization method **1 2 4

What's the best way to set up a new QuickBooks Online subscription for a client and add them to your firm?

Ask your client to send the invite to the email address you use for your QuickBooks Online Accountant firm.

A client is adding an asset with prior accumulated depreciation to the Fixed Assets feature. They selected the original purchase date and let QuickBooks Online calculate the amount of accumulated depreciation. However, the calculated figure doesn't match the one in their existing records. What should the client do in this situation?

Choose a different depreciation start date until the two figures match Nothing. They won't be able to add this item to the Fixed Assets feature **Enter an adjusting entry to correct the discrepancy Re-enter the asset details, but add/save them without using the calculate tool

Which of the followings is not a benefit of QuickBooks Online Advanced?

Clients can get enhanced support and training for their team Clients can create fully customizable reports to drill down to data they need Clients can restore company data to previous versions for added security **Clients can track inventory cost basis as average and/or FIFO

In which 2 ways can you create a customized template for a project in the Work menu in QuickBooks Online Accountant?

Create a template from scratch Duplicate a QuickStart template

In what ways can you add new projects to the Projects center in QuickBooks Online? Select all that apply.

Create new projects in the Projects center Convert sub-customers to projects from the Customer tab in the Sales center Convert sub-customers to projects in the Projects center Batch-import them into the Customer tab in the Sales center, then convert them to projects

A client enters an expense or check transaction and posts it to accounts payable (A/P). However, there is no bill associated with the transaction. Which 2 of these will QuickBooks Online do in a cash-basis Profit and Loss report?

Credit Accounts Receivable (A/R) Debit Unretained Earnings **Debit Accounts Payable (A/P) Credit Accounts Payable (A/P) **Debit Unapplied Cash Bill Payment Expense

What 2 aging options are available for aging reports?

Current and Report Date

Which tab on the Manage users screen allows you to invite new team members to be assigned custom roles?

Custom roles **Users Permissions Roles

Which 2 of these statements are true of working with uploaded receipts in the Receipts center in QuickBooks Online?

Data from an uploaded receipt can't be edited **You can match the receipt with an existing record in QuickBooks Online **When added, QuickBooks Online automatically includes the image of the receipt with the transaction Receipts and bills can only be uploaded once the transaction has been added in QuickBooks Online

What 3 fields can be found in the Reclassify Transactions screen?

Date Range Account Type Transaction Type

Which of the following actions should you do to prepare the file for conversion? Select all that apply.

Delete all the reports from the Memorized Report List **Delete any customized reports in the Memorized Report List that the client no longer wants or needs **Unfavorite any reports in the Favorites list that the client doesn't want or need in QuickBooks Online **Delete any reports that QuickBooks Desktop added to the Memorized Report List, even though the client didn't customize them Delete any reports that the client has added to their Favorites list

Which 3 criteria can be specified in a bank rule condition?

Description Transaction Amount Transaction Date

Which 2 of these are correct when downgrading a client's QuickBooks Online subscription?

Downgrading will cancel your client's active Direct discount **Downgrading may affect third-party apps **Your client may lose some features of QuickBooks Online with the downgrade Your client may lose some of their customer data with the downgrade

Which 3 are transaction types you can assign in a rule for money-out transactions?

Expense Journal Entry Check

Where do clients go to send invites to employees to submit expenses directly to QuickBooks Online Advanced?

Expenses > Expense claims > Employee settings Expenses > Expense claims > New expense claim > Invite employee Banking > Receipts > New receipt > Invite employee **Expenses > Expense claims > Manage settings > Manage users

From the For review tab in the bank feed, how can you exclude a bank transaction that is a duplicate?

Find transaction > Check the box next to transaction > Select Exclude in the banner

You're setting up time tracking for a client who has the following requirements: Timesheets should be completed weekly, with Tuesday as the first working day of the week Timesheet activities should be billed to the customer Time-tracking users need to be able to specify which service/task they carried out Time-tracking users should not be able to see any billable rates Which of the following settings are correct? Select all that apply.

First day of work week dropdown: TUESDAY Show Service field: ON Allow time to be billable: ON Show billing rate to users entering time: OFF

Where can clients with QuickBooks Online Advanced access the Priority Circle feature?

From the Accounting menu in the left-hand navigation From the Gear icon **From the My Experts option From the + New button

What are 2 ways to check a client's subscription level in QuickBooks Online Accountant?

From the Subscriptions and billing screen from the Gear icon. By hovering over the QB icon in the Clients menu.

A verification report is generated every time you verify a QuickBooks Desktop company file. How do you open the verification report?

From the top menu, go to File > Utilities > Verify Data > Run report **Select F2 on your keyboard to open the Product Information window From the top menu, go to Reports > Maintenance It is automatically emailed to you once verification is complete

Denise would like for all of her leads to save their notes in the Client details screen. Who would have access to these notes?

Full access team members

Where can clients with QuickBooks Online Advanced access Priority Circle?

Gear icon > Priority Circle **Top of the screen > Help Top of the screen > My Experts My Accountant > Priority Circle

Where do you go to enable inventory tracking in QuickBooks Online?

Gear icon > Products and services > More Gear icon > Account and settings > Advanced tab **Gear icon > Account and settings > Sales tab Sales Center > Inventory

Starting from here, where can the client go to do this? Select all that apply.

Go to + New and select Receive payment Open the All sales tab, find the open invoice and select Receive payment Open the Invoices tab, find the open invoice and select Receive payment

How can you find a client's Company ID?

Go to Account and Settings in the client's file

Which 3 of the following statements are true about working with corporate credit cards in QuickBooks Online? If you are paying off the full amount of the credit card, an easy way to record the credit card payment is to use an expense transaction and split the payment between the different credit cards With corporate credit cards, one card is usually designated as the primary, or master card Individual cardholder accounts, including the primary/master card, are set up as subaccounts to the parent account The only method you can use to record a payment to a corporate credit card is to enter payments manually by creating an expense transaction

If you are paying off the full amount of the credit card, an easy way to record the credit card payment is to use an expense transaction and split the payment between the different credit cards Individual cardholder accounts, including the primary/master card, are set up as subaccounts to the parent account With corporate credit cards, one card is usually designated as the primary, or master card

All sales transactions converted to QuickBooks Online from QuickBooks Desktop use a custom sales tax rate. How can you set up QuickBooks Online to calculate sales tax based on location for future sales transactions?

In the Products and Services list, delete any sales tax item that was converted from QuickBooks Desktop In the Customers List, select any relevant customers, then select Edit > Tax info and set the sales tax rate to be calculated based on location **In the Sales Tax center, select Sales tax settings and then edit any custom rates as required Use zero dollar sales receipts to adjust sales tax on all future sales transactions

Which 2 of these steps do you need to take before creating a Project estimate that includes both estimated revenue and costs?

Map each product and service item to be used on an estimate to an income and an expense account Enable the Estimate feature in Account and Settings Enable and configure the Projects feature in Account and Settings Reset the quantity on hand value for each product and service item to be used on an estimate Set up an Estimate Inventory account in the chart of accounts

Which statement is true about making a client inactive in the Clients menu in QuickBooks Online Accountant?

Inactive clients are completely removed from the Client menu You have to remove the lead accountant assigned to the client before making them inactive **Making a client inactive doesn't affect their subscription Only the Primary Admin can make a client inactive

Which words correctly complete this statement about working with inventory in QuickBooks Online? Select the correct option from the dropdown. Recording the purchase of an inventory item Select answer the Inventory Asset account on the balance sheet by the quantity multiplied by the cost, and Select answer the Quantity on Hand units for that item.

Increases Also Increases

When you save the inventory adjustment, QuickBooks Online automatically records an inventory quantity adjustment to both the ___________ and the Inventory Shrinkage COGS account, unless you choose another account. Which option correctly completes the statement?

Inventory Asset account

You're converting a QuickBooks Desktop file to QuickBooks Online, and you get this message: If you select "No, don't move inventory," what does this mean for the client?

Inventory items won't convert, and the client won't be able to turn on inventory in QuickBooks Online at a later date **Inventory items won't convert as inventory-type items, but the client can turn on inventory in QuickBooks Online at a later date Inventory items will convert as inventory-type items, but inventory tracking will be disabled in QuickBooks Online Inventory will convert to QuickBooks Online using the Weighted Average Cost method rather than FIFO

When tracking jobs, which of the following can you do with sub-customers but not with projects? Select all that apply.

Invoice to an address that's different from the customer's Add another level of sub-customers

Which of the following are benefits of using QuickBooks Time? Select all that apply.

It allows administrators to schedule the work of the business It offers specific time-related reports It offers easy access to timesheets anywhere

When you record and track vendor prepayments using an Other Current Asset (OCA) account, what happens to the OCA account balance when you enter the final bill, assuming you don't use the vendor credit approach?

It decreases

Which 2 options are benefits of using the Close Books feature?

It keeps track of any changes made after the closing date was set to closed period transactions. It can prevent users from changing transactions in a closed period

How often does the Online Back-up and Restore feature with QuickBooks Online Advanced run automatic backups?

It runs incremental backups once it detects a change **It runs full backups daily and incremental backups every few hours It runs full backups weekly and incremental backups daily It runs full backups every few hours

What is the minimum QuickBooks Online subscription level for a client who needs to manage inventory?

QuickBooks Online Plus

What account type would be most appropriate for tracking a loan your client took out to buy a delivery van?

Liabilities

Your client has been using the QuickBooks Online Mileage Tracker throughout the year. It's nearing year end and you're preparing the log for auto expense deduction. Which 3 of the tasks below should be completed to prepare the log for auto expense deductions at year end?

Look for vehicle changes (bought or sold) View all the recorded trips, ensuring none are left unreviewed Check the calculated mileage

Which of these cash flow events feed into a forecast from the Cash flow planner tool? Select all that apply.

Money-in and money-out transactions that your client has added manually to the planner but that aren't included in their regular accounting Money-in and money-out transactions that QuickBooks Online predicts based on your client's financial history Transactions your client has entered into QuickBooks Online

You're recording mileage at year-end and you want to download your client's trips from QuickBooks Online to a CSV file. From here, where would go to do this?

Reports from the left-hand navigation, followed by For my Accountant **Expenses from the left-hand navigation, followed by Mileage Gear icon followed by All lists Accountant Tools followed by Journal entries

Which 3 of these statements are true about the "Forward from email" option? Users can only include one bill or receipt in one email Multiple users can forward bills and receipts to the same custom email address There's only one custom email address per QuickBooks Online company that can be used to receive bills and receipts Only PDF-format bills and receipts can be forwarded Only company users with at least standard access with vendor permission can forward bills to the custom email address

Only company users with at least standard access with vendor permission can forward bills to the custom email address Multiple users can forward bills and receipts to the same custom email address There's only one custom email address per QuickBooks Online company that can be used to receive bills and receipts

What's the best thing to do if a QuickBooks Desktop file includes custom sales form templates for estimates, invoices, and sales receipts?

Open a new company from scratch rather than use either conversion tool **Use the default forms template in QuickBooks Online or design a new one Nothing. Custom forms templates transfer automatically using the conversion tools Delete the custom sales form templates in QuickBooks Desktop, then use the built-in conversion tool

Which of these actions allows you to find any payments that are waiting to be added to a deposit?

Open the Categorized tab in the bank feed and search for the downloaded transaction(s) Run an Unapplied Cash Payment Income report for the relevant period **Select + New and then Bank deposit to open a blank Bank deposit screen Open the chart of accounts and search the bank account for the payments

You reconcile a client's bank account up to today and see that their Undeposited Funds account has a debit balance for today. The client has told you that all payments have been deposited. What else will you likely find?

Overstated income Understated expenses Overstated accounts receivable **Post-dated Receive payments transactions

Which of the following QuickBooks Online features is only available to accountant users and client users with company administrative privileges?

Overview

Another of your clients wants to discount all their products by 25% in a sale that runs for the entire month of August. To create this price rule, they need to enter the following: What are the correct options for the missing settings? Select all that apply.

Price adjustment method: Percentage, to Decrease by 25% with no rounding Products and Services: All products

What 3 billing options can you offer clients when you sign them up to QuickBooks Online through QuickBooks Online Accountant?

ProAdvisor discount Direct discount Revenue Share

Which of the following can the Grouping feature in the bank feed help with?

Processing similar transactions in bulk

Which 3 of these items in QuickBooks Desktop do NOT convert to QuickBooks Online using either the built-in or standalone conversion tool?

Profit and Loss budgets **Balance sheet budgets **Audit trail Closing dates **Closing date password

Which of the following organizes financial transactions to allow you and your client to analyze the business's financial data, run financial reports, and prepare for taxes?

Profit and Loss report

Which of these statements about QuickBooks Online Accountant and QuickBooks Online are true? Select all that apply.

QuickBooks Online Accountant is a portal to your clients' QuickBooks Online files QuickBooks Online Accountant includes features that accountants can use to manage their own practice and books

Which of these apps is not a Premium App?

QuickBooks Time Bill.com HubSpot **EasyStore

Which report is best for checking that a billable time entry has been recorded correctly?

Recent Transactions Time Activities by Customer Detail **Unbilled Time Recent/Edited Time Activities

Which 3 of these steps should you complete before you close a client's books? Reconcile all bank and credit card accounts Set the status of all the client's projects to Completed Substantiate all balance sheet accounts Disconnect any bank feed links Review the profit and loss accounts

Reconcile all bank and credit card accounts Substantiate all balance sheet accounts Review the profit and loss accounts

What's used to validate the bank and credit card account balances on a balance sheet?

Reconciliation Reports

What type of sales transaction reduces the amount a customer owes?

Refund receipt **Credit memo Invoice Sales receipt

You want to provide your client with a professional-looking downloadable report that includes a cover page, table of contents, and custom letter that they can send to potential investors. Where would you go to create such a report?

Reports center > Management reports tab

Where in their QuickBooks Online can clients view requests you send them?

The Requests option from Accountant Tools The Dashboard menu **The My Accountant menu The Accounting menu

Where would you go to add a new tax agency to a client's Sales Tax center?

The Sales Tax Settings option from the Gear icon The Sales Tax Settings option in the Sales Tax center **The New button in the Sales Tax center The Sales Tax Settings option in the Advanced tab of Account and Settings

Where would you go to set up a custom sales tax rate?

The Sales Tax Settings option in the Sales Tax center

Where can you find the online delivery settings?

The Sales tab in Account and Settings

Where would you go to delete a filing payment that was entered in error?

The Troubleshoot link in the Sales Tax center The Sales tax settings link in the Sales Tax center **The History link in the Sales Tax center The Resolution center from the Gear icon

From here, where can clients go for a visual overview of their unbilled, unpaid, and recently paid bills?

The Vendors tab

Here's an example of an Expenses centre in QuickBooks Online: From here, where would you go to enter a new cash expense?

The Vendors tab **The New transaction button The Batch actions dropdown The small Grid Gear icon above the Action column

Which 2 of these tools and reports would you use to identify errors in clients' workflows?

The Workflows tab **The Voided/deleted transactions tool The Transactions tab **The Transaction journal report

Your accrual-basis client wants to write off bad debt for a customer who just went out of business. The debt is from a single taxable invoice for $101 for a service purchase that happened one year ago. Why shouldn't you use the Write off invoices tool in this case?

The Write off invoices tool can't be used for amounts in excess of $100 **The Write off invoices tool doesn't account for sales tax calculations or for transactions that may be from a closed period The Write off invoices tool can't be used for service items The Write off invoices tool can't be used for customers who have gone out of business

Which 2 of these features of QuickBooks Online Advanced make it easier for companies to give more people access to their data?

The ability to create custom reports **The ability to add more users than in any other subscription level **The ability to create fully customized user permissions The ability to integrate Premium Apps

In which 4 of these situations would you use the Additional payments to deposit on a Deposit transaction? The client receives a refund from a tax agency and needs to record it to reduce the Tax Liability or Expense account The client receives a refund from a vendor and wants to record it directly against the associated expense account The client doesn't record income using sales transactions (invoices or sales receipts) and wants to record deposits directly to income accounts The client receives funds from loan proceeds or contributions of cash from owners The client receives a partial payment from a customer against an open invoice The client receives a deposit from a customer for future purchases

The client receives a refund from a tax agency and needs to record it to reduce the Tax Liability or Expense account The client receives a refund from a vendor and wants to record it directly against the associated expense account The client doesn't record income using sales transactions (invoices or sales receipts) and wants to record deposits directly to income accounts The client receives funds from loan proceeds or contributions of cash from owners

As you're reviewing a client's Profit and Loss accounts, you find an account called Reconciliation Discrepancies account. This account has a balance of $1,250. What does this signify?

The client undid a reconciliation, then redid it **The client forced a reconciliation by adding an adjustment In Bank feeds, QuickBooks Online posted the difference between the amount of a transaction and the amount that cleared the bank to this account

You're creating a new QuickBooks Online file for a client, and you need to enter several outstanding checks and deposits, plus a few open accounts receivable (A/R) and accounts payable (A/P) transactions. What dates and amounts should you enter for each transaction?

The dates and amounts from the last recorded reconciliation **The dates and amounts from the client's original file The amount should be the one from the original file, but the date should be the day you create the new QuickBooks Online company The amount should be zero, and the date should be the day you create the new QuickBooks Online company

If you want to import a list, why is it a good idea to download the sample template from QuickBooks Online and base your data file on it? Select all that apply.

The fields in the template are automatically prepopulated with the correct data for the client's activities **It saves you from having to create a new template from scratch **The first row of the template contains the correct column headers, which ensures that data maps to the proper fields during the importing process The template is formatted with the correct company logo and font styles

Where in the Expenses center can you schedule a payment?

The link from the Action column in the Vendors tab

Which feature would give you the quickest route to finding any overdue invoices?

The money bar

You're setting up corporate credit cards in QuickBooks Online. The card on the primary subaccount is only used for payments, and you're going to post payment transactions from the payment bank account to the primary subaccount. Which accounts should you link to the bank feeds? Select all that apply.

The primary subaccount The non-primary subaccounts

In which one of these situations should a client create a sales receipt?

To record a payment made more than 30 days after a product was delivered **To record a payment made at the time of sale To record how much they expect it to cost to manufacture a product To record a check payment for a sale made within the previous 30 days

When recording a failed payment, why do you need to deselect the original invoice in the original Receive Payment transaction?

To reset the aging of the original invoice

Which 3 statements are true about recording journal entries?

Total debits must equal total credits. You can post to multiple accounts receivable and/or accounts payable accounts in the same journal entry. You can include products or services in a journal entry.

Which 2 of these situations could cause payments for services to an applicable payee not to appear in the 1099 Wizard for submission to the IRS? Total payment made to the applicable payee aren't at or above the $600 threshold level They live in another state The Track payments box for 1099 isn't checked on their Vendor Details screen

Total payment made to the applicable payee aren't at or above the $600 threshold level The Track payments box for 1099 isn't checked on their Vendor Details screen

Consider the example of the handyperson with several real estate customers. As we saw, they can assign each of their customer's properties as sub-customers and then add each tenant living at a property as a sub-customer under the property (so as a sub-sub-customer). What would this structure allow them to do that they couldn't before? Select all that apply.

Track how much time they spent on a specific job Track how much they were paid for a specific job Track their direct expenses for a specific job Track how much profit they made from a specific job

From here, where would you start importing a set of rules downloaded from another QuickBooks Online company?

Transactions > Rules tab

Which 3 statements are correct regarding reconciling a bank account in QuickBooks Online?

Transactions added or matched in the Banking center are automatically marked tentatively cleared. The primary admin can undo reconciliations. To begin the reconcile process, you need to enter the statement ending date and ending balance from the relevant bank statement

Where does a cash-basis Profit and Loss report include customer payments that haven't been applied to an invoice?

Unapplied Cash Payment Income

Where can you go to run a Budget vs. Actuals report for one of the budgets listed here? Select all that apply.

Use the dropdown in the Actions column Go to the Reports center

Which of the following statements are true about running reports with tags? Select all that apply.

Users can create reports that show all the tags in a group at the same time All subscribers of QuickBooks Online can create tag-based reports

You need your client to send you a copy of a paper receipt so that you can match it to a gas expense in their QuickBooks Online. You create a client request and add a screenshot of the expense entry in QuickBooks Online to help your client identify which receipt they're looking for. What do you need to do to ensure the client receives an email notification to alert them about the new request for information?

When creating the request, move the Notify client slider to On

When should a client record a bill in QuickBooks Online?

When there's a time lag between purchase and payment

Which menu from the left-hand navigation in QuickBooks Online Accountant would you select to send a request to a client?

Work

Recording the purchase of an inventory item ________ the Inventory Asset account on your balance sheet by the cost of the item. Which option correctly completes the sentence?

Zeros out Decreases **Increases Equalizes