QB Section 1

Which users will be able to see account numbers if they are enabled?

-All users will see the account numbers. Only the user who enabled will see the account numbers. Only Company admins will see the account numbers. Only the Primary admin will see the account numbers.

If Billy Jo does not want to track the quantity on hand of the products she sells, what Product/Service type should she select when setting up the items she sells in QuickBooks Online?

-Non-inventory inventory service sales

Which 3 are benefits of using apps with QuickBooks Online?

-They can reduce time spent on data entry -They can provide additional insight into various parts of a business They can provide a discount on QuickBooks Online They can help to speed up the performance of QuickBooks Online They are all included free with your QuickBooks Online subscription -They can solve industry-specific needs

Which 2 accounts cannot be merged or made inactive?

-Uncategorized Expense -Retained Earnings Bank Accounts Ask My Accountant Payroll Liabilities

What are the 3 primary ways to migrate client data to QuickBooks Online?

-use the import data tool use the export data tool create recurring transactions -enter data manually into quickbooks online forms and check registers -convert data from existing quickbooks Desktop file

What is the maximum number of characters allowed in the account number field?

5 10 -7 8

You are adding a new client subscription through QuickBooks Online Accountant. Which billing option would you choose if you want Intuit to bill your client?

Accountant discount ProAdvisor Discount Client billing -Direct Discount

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

Client Mileage -Transaction Volume -Company Setup Prep for Taxes -Banking Activity Outstanding Taxes -Common Issues Voided/deleted Transactions

Where do you go to access QuickBooks Online training materials for your clients?

Left-hand navigation > Accounting > Training Gear > Tools > Training Center > Client Training Gear > Subscription > ProAdvisor > Training -Left-hand navigation > ProAdvisor > Benefits > Training

Where can you enable account numbers for the chart of accounts?

Lists > Chart of Accounts > Enable account numbers Accountant Tools > Customization options > Chart of Accounts > Enable account numbers -Gear icon > Account and Settings > Advanced > Chart of Accounts > Enable account numbers +New > Account and Settings > Chart of Accounts > Enable Account numbers

Which 2 features in QuickBooks Online can help a professional services company track profitability by client?

Price rules -Profit and Loss by Customer Report Recurring transactions Customer Statements -Projects

Which 2 QuickBooks subscription levels would support a client who needs to track how much inventory is in stock at any given time?

essentials simple start -advanced -plus self-employed

There are four item types to choose from in QuickBooks Online. These are products bought and sold where it isn't necessary to track quantities on hand, such as small parts used in the installation or delivery of a product These are products that are bought and sold, and where it is necessary to track quantities on hand. You must subscribe to QuickBooks Online Plus or Advanced to use this feature 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 This includes services that are provided to customers, such as an emergency service call visit or other labor

non-inventory inventory bundle service

Where are 2 places you can search for apps that work with QuickBooks Online?

www.quickbooks-apps.com Account and Settings > Apps www.intuit-apps.com -www.apps.com -The Apps tab in QuickBooks Online Accountant The ProAdvisor tab in QuickBooks Online Accountant

In QuickBooks Online, the Products and Services list contains the items that will appear on your client's purchase and sales transactions.

preferred vendor product category class -chart of accounts

Timothy would like to add another term to the current list of terms within QuickBooks Online.

Gear > Payments > Terms > New Gear > Products and services > More > Terms > New -Gear > All lists > Terms > New Gear > Account and settings > Sales Terms > New

To determine the scope of a bookkeeping clean-up engagement, you are reviewing the Client Overview tab for a potential client. You notice that there is a large amount in the Opening Balance Equity account. Which 2 reasons could be causing this balance?

Transactions in the Banking Center were added without assigning an account to them -An opening balance was entered when an inventory item was created -An opening balance was entered when creating a new Other Current Asset account* An opening balance was entered when setting up sales tax A reconciliation adjustment was posted when completing a bank reconciliation