Quickbooks

lOCATED IN THE CUSTOMERS TAB IN SALES CENTER- Which feature would give you the quickest route to finding any overdue invoices?

The money bar Invoices that are overdue are shown in the money bar, highlighted in orange. You can dive in to see the detail of the invoices and take action by selecting the orange section.

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

*The Sales tax settings link in the Sales Tax center

How would you best describe a product or service bundle?

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

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

A company already in business and using inventory, and that's just starting to use QuickBooks Online

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

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 An unscheduled recurring purchase order with a quantity of zero A bank rule A scheduled recurring expense

A scheduled recurring invoice

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. What is the result of this? A positive A/P balance A negative A/P balance A positive A/R balance A negative A/R balance

A negative A/R balance

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 (The transaction journal would show two line items for that invoice related to the inventory asset account: one with a $20 (2x$10) change decreasing inventory, and another with a $24 (2x$12) change decreasing inventory. This is the intended behavior, and the report totals and subtotals will be correct.)

How many conditions can you apply to a single rule? 1 10 in QuickBooks Online Advanced, 5 in all the other subscription levels 3 5

5

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

Account and Settings > Payment

What are the benefits of connecting bank and credit card accounts to QuickBooks Online? Select all that apply. All bank transactions can be checked, categorized, and approved to make sure they're correct All connected bank and credit card transactions sync with QuickBooks Online All bank and credit card transactions are categorized in QuickBooks Online automatically It cuts down on the amount of data that needs to be entered manually, saving time

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

LOCATED AT Sales center in QuickBooks Online. 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

All sales

Which of the following options is NOT true regarding editing a chart of accounts? Merging accounts isn't possible for all account types Account numbers can be up to 20 digits long You can make an account active once it has been made inactive All transactions are deleted from an account if you make it inactive

All transactions are deleted from an account if you make it inactive (Transactions in inactive accounts remain part of the company data. They don't get deleted.)

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

Why can't you use an inventory quantity adjustment to reduce inventory for donations? Because the transaction could take from multiple FIFO layers Because it doesn't impact on the COGS account Because it doesn't allow you to enter the name of the customer or organization you're donating to

Because it doesn't allow you to enter the name of the customer or organization you're donating to (You need to use a journal entry to update the transaction journal for the donation to determine the amount that posted to COGS.)

Which 2 reports can be run in QuickBooks Online based on an existing budget? Budget Overview report Budget Profit and Loss report Budget vs. Actuals report Budget Summary report

Budget Overview report Budget vs. Actuals report

Here's the Additional information section of the Vendor information panel in QuickBooks Online: Which field allows clients to store the tax ID number of a vendor to be used in Forms 1099-MISC and 1099-NEC? Billing rate (/hr) Account no. Terms Business ID No. Check answer Continue training

Business ID No.

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

CREDIT MEMO

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

Changing names of default accounts Numbering each account Merging accounts

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

A client wants to create customer statements for several customers at once. What would you do in the Customers tab of the Sales center to achieve this?

Check the required customer(s) in the list, then select Create statements from the Batch actions dropdown

What benefits does progress invoicing provide to clients? Select all that apply. Consistent cash flow Keep contractors paid and happy Better communication with customers Estimate costs for different projects

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

Which of these statements about estimates in QuickBooks Online Plus and Advanced are true? Select all that apply. Estimates are posting transactions Estimate data can be used to create a purchase order Estimate data can be used to create a vendor credit Estimate data can be used to create an invoice

Estimate data can be used to create a purchase order Estimate data can be used to create an invoice

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 do you go to enable inventory tracking in QuickBooks Online? Gear icon > Account and settings > Sales tab Gear icon > Products and services > More Sales Center > Inventory Gear icon > Account and settings > Advanced tab PreviousNext

Gear icon > Account and settings > Sales tab

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

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

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

If the sales tax is based on location, you won't see a "See the math" link at all

Which of the following statements are true about using QuickBooks Online to support the filing of clients' sales tax? Select all that apply. Clients can use QuickBooks Online to pay sales tax liabilities to relevant states 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 QuickBooks Online automates the process of filing tax returns

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

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

Increases

Which product/service type is only available to clients with QuickBooks Online Plus or Advanced? Inventory Non-inventory Service Bundle

Inventory

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 (The Inventory Asset account reflects stock in hand, so any adjustment will be recorded here.)

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? It saves you from having to create a new file from scratch The sample file is formatted with the correct company logo and font styles The Products and Services fields in the sample file are automatically pre-populated with the correct data for clients' activities 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 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

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

It uses its default Hours service item

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 account Rule 2Assigns all purchases at Office Depot to an Office Supplies expense account Rule 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

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

OVERVIEW

Who can add apps to client company accounts?

Only Admin users can add apps to a company account

When adding a new vendor, which field should almost always be left blank? Company Address Website address Opening balance Account number Cost rate Terms

Opening balance

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

PAYROLL ONLY

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

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

Which report is best for checking that a billable time entry has been recorded correctly? Unbilled Time Time Activities by Customer Detail Recent/Edited Time Activities Recent Transactions

Recent/Edited Time Activities

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 RECIEPT (Your client can create a sales receipt for the total amount of the day's sales because customers pay at the time of purchase.)

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 (Adding notes like this to the description will help with future entries)

One of your clients is creating a sales receipt and wants to use a template design that they customized earlier instead of the default one. 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

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

So that the cost of the inventory will affect Promotions expense rather than Cost of Goods Sold (COGS)

Which 3 of these types of businesses or organizations are typically not subject to sales tax? Legal services companies Nonprofit organizations Transport services companies Pharmaceutical companies State, local, and federal government Resellers of wholesale goods

State, local, and federal government Resellers of wholesale goods Nonprofit organizations

Here's the dashboard in a QuickBooks Online company Starting from here, where would you go to add a new customer to QuickBooks Online?

The + New button at the top left

Where in the bank feed can you match or add transactions? The Categorized tab The For review tab The Explore button The Update button

The For review 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

The New transaction button

Starting from the Banking center, what would you select to begin disconnecting a bank account from QuickBooks Online? The Bank icon on the account tile The Gear icon The Pencil icon on the account tile The Go to bank register link

The Pencil icon on the account tile

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

The Sales Tax Settings option in the Sales Tax center

Where would you go to set up a custom sales tax rate? The Advanced tab in Account and Settings The dropdown in the tax agency's Actions column The Sales tab in Account and Settings The Sales Tax Settings option in the Sales Tax center

The Sales Tax Settings option in the Sales Tax center (The Sales Tax Settings option allows you to edit tax agency details, add new agencies, and set up custom sales tax rates.)

Where can you find the online delivery settings?

The Sales tab in Account and Settings

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

The Sales tab in Account and Settings

Here's the Expenses center in QuickBooks Online: From here, where can clients go for a visual overview of their unbilled, unpaid, and recently paid bills?

The Vendors tab (The Vendors tab includes a money bar that gives a visual snapshot of the client's unbilled, unpaid, and recently paid bills.)

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 (This is a posting transaction. In recording it, QuickBooks Online will credit A/P and debit the Fuel Expense account. In addition, this will create a non-posting billable expense transaction.)

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

To record a payment made at the time of sale

Where can you go to run a Budget vs. Actuals report for one of the budgets listed here? Select all that apply. Open the budget from the list Use the dropdown next to Create new Use the dropdown in the Actions column Go to the Reports center Go to All lists from the Gear icon

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

Which of the following statements is true about vendor credits in QuickBooks Online? Vendor credits can't be applied to a bill that has already been received Vendor credits post as a debit to decrease accounts payable A vendor credit can be linked to a cash refund when the cash is deposited Vendor credits post as a debit to increase accounts payable Check answer Continue training

Vendor credits post as a debit to decrease accounts payable

Which tab in the Expenses center lists the client's recent purchase transactions? Expenses Vendors Bills Contractors PreviousNext

Vendors

When should a client record a bill in QuickBooks Online? When they pay for a product or service upfront When they're paying for something using a credit card When there's a time lag between purchase and payment When a purchase is made and paid for at the same time

When there's a time lag between purchase and payment (Clients need to record bills when they're paying for a purchase at a later date, like when terms are offered by a vendor. It's a way of associating the purchase with a date or period that's different from the payment date.)

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

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

Which of the following statements about adding a new custom field in QuickBooks Online Plus are correct? Select all that apply. You can add a custom field to either sales forms or purchase orders, but not both Custom fields are included on printed and emailed forms by default You can add up to 3 custom fields to sales forms and purchases orders You can add the same custom field to sales forms and purchase orders You can add up to 12 custom fields to sales forms, but only 3 to purchase orders

You can add up to 3 custom fields to sales forms and purchases orders You can add the same custom field to sales forms and purchase orders (In QuickBooks Online Plus, you can add up to three custom fields, shared across sales forms and purchase orders.)

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 You can't use multiple accounts receivable and/or accounts payable accounts in the same journal entry You can mark an amount as billable to a customer You can mark an amount as billable to a vendor

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

In which of these situations would you use the Add funds to this deposit grid? Select all that apply. Your client receives a payment from a customer, but it's not a check Your client receives a tax refund from the IRS Your client receives a cashback payment from a vendor for ordering in bulk Your client receives a gift certificate from a customer

Your client receives a tax refund from the IRS Your client receives a cashback payment from a vendor for ordering in bulk (A tax refund and cashback payment are perfect examples of money coming in that isn't matched to an existing payment. These need to be recorded as deposit transactions.)

One of your clients asks you to give a new employee access to QuickBooks Online. The employee will be dealing with all aspects of the business, including payroll, but they shouldn't have any admin privileges. What user type should you choose when you add the employee?

standard all access Standard all access users have full access without admin privileges, plus access to Payroll.

Where in the Expenses center can you schedule a payment? The link from the Action column in the Expenses tab The Grid Gear icon in the Vendors tab The money bar in the Vendors tab The link from the Action column in the Vendors tab

The link from the Action column in the Vendors tab

Here is an example of a Client Retainers detailed report: How can you customize this report to find any open balances? Customize > Filter, then choose Undeposited Funds from the Account dropdown Customize > Rows/Columns, then select Group by Customer Gear icon > Change columns, then mark the Credit checkbox in Change columns Customize > Filter, then choose Uncleared in the Cleared dropdown

* Customize > Filter, then choose Uncleared in the Cleared dropdown

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 > Receive payment + New > Bank deposit + New > Journal entry Gear icon > Reconcile

+ New > Bank deposit

Which option would you choose if a client wants to record regular, flat-fee jobs and invoice the customers at a later date? + New > Delayed charge + New > Delayed credit + New > Vendor charge + New > Receive scheduled payment

+ New > Delayed charge

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

+ New > Estimate

Which of these activities can clients do with sales receipts in QuickBooks Online? Select all that apply. Record payment on an open invoice Add a new customer directly from the Sales Receipt screen Edit the email that is sent to the customer with the sales receipt Select multiple customers for a single sales receipt

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

How can QuickBooks Online users with email forwarding access send multiple bills or receipts in one email message? Add them to the body of the email Add them as attachments Send them in separate emails Send them to an Admin user, who can send multiple items in a single email

Add them as attachments

When would a client use an expense transaction? Before they make a purchase After they've paid a vendor with cash When they're paying a vendor in installments When they're paying a vendor at a future date

After they've paid a vendor with cash

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 (When using the Deposit feature to record retainers, any remaining balance due on the invoice is posted to accounts receivable.)

A client wants to record a payment they've received for an invoice. where can the client go to do this? Select all that apply. Open the Invoices tab, find the open invoice and mark it as paid Go to + New and select Receive payment Open the Invoices tab, find the open invoice and select Receive payment Open the All sales tab, find the open invoice and select Receive payment Select Banking from the left-hand navigation, go to the Receipts tab, then add a new payment receipt

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

How can you find a client's Company ID?

Go to Additional info in the client's file

Which web browser does Intuit recommend for the best user experience?

Google chrome

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

Have a QuickBooks Online Plus or Advanced subscription Enable the purchase orders option in Account and Settings

When would you need to exclude some transactions from a bank feed? If the bank mistakenly imported a transaction more than once If the transaction was a personal expense that you didn't want to include in your accounts If the transactions in the bank feed matched those in the expense transactions If the transaction hadn't cleared the bank yet

If the bank mistakenly imported a transaction more than once

What is the principle of the First In, First Out (FIFO) method of inventory management?

The earliest item added to the inventory will be the first one sold

Which of these options is true about credit memos in QuickBooks Online? Credit memos are for refunding cash directly to the customer Credit memos aren't essential when customers pay in cash Credit memos reduce accounts receivable Credit memos need to be created and applied manually

Credit memos reduce accounts receivable (A credit memo is a credit applied to the customer's accounts receivable and it reduces the client's accounts receivable.)

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

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

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 increases It zeroes out It remains unchanged It decreases

It decreases

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: (PRODUCT & SERVICE AND PRICE ADJUSTMENT METHOD) What are the correct options for the missing settings? Select all that apply.

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

When a client sets up QuickBooks Payments the first time, what are they prompted to do? Select all that apply. Provide personal information Provide tax information Provide business information Connect to their bank Set up user permissions

Provide personal information Provide business information Connect to their bank

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

Purchase order

where would you go to assign a customer type to a customer?

Select the customer to view their details, then select Edit and scroll down to the Customer type dropdown

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

View the Unbilled Charges report Select the Unbilled Activity segment of the money bar in the Sales center

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 A Liability account

An Inventory Asset account A Cost of Goods Sold account An Income account (When creating an inventory product, you must map the item to three different accounts: Inventory Asset (debited when purchasing the inventory and credited when selling the inventory), Income (credited when selling the inventory), and Cost of Goods Sold or COGS (debited when selling the inventory).When filling out the setup of an inventory item, you'll see a field for Expense account, but when you go to fill it in, you'll find that only a Cost of Goods Sold type of account will be accepted.)

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)

Increase the quantity of the product in the Product & Services list and inventory reports Decrease the quantity of the product in the Product & Services list and inventory reports (merp)

Your client wants to view the tax returns that they previously paid to the tax agency they're registered with. What's the quickest way the client can do this in the Sales Tax center? Select Paid from the Status filter Go to the sales tax settings Select the View Tax Return link in the Action column Select the More details link in the tax agency name tile

Select Paid from the Status filter (The Status dropdown allows the client to filter tax returns to only show those that are: Paid Due Overdue Open)

How can you edit the details of an existing customer? Open the dropdown in the Action column and select Edit Select the customer's name from the list, then select Edit in the Customer details panel Select + New followed by Customer details Open the dropdown in the Action column and select Make changes

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

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

Turn on the Compare reference data slider, then—from the dropdown that appears—select the required previous period

Which of the following statements about adding sub-categories to the product and services list are correct? Select all that apply. You can edit existing product/service items to assign them to a sub-category You can create a sub-category when you're setting up a new product/service item You can only assign a product or service item to a sub-category when you're setting it up for the first time You can only add up to 4 category and sub-category levels, including the parent You can only add 1 sub-category level to a product category

You can only add up to 4 category and sub-category levels, including the parent You can edit existing product/service items to assign them to a sub-category

Which of the following statements is true about overriding the sales tax calculated for an individual invoice? Adjustments must be made in dollars and cents Adjustments must be made in percentages Adjustments must be made using an adjusting journal entry A reason for making the override must be entered before the adjustment can be confirmed

A reason for making the override must be entered before the adjustment can be confirmed (You can make adjustments as either a percentage or in dollars and cents, but you must enter a reason before QuickBooks Online will allow you to confirm the change.)

Where can you go to import a customer list into QuickBooks Online? Select all that apply. Customer types, then select Import customers The Gear icon, then select Import data The Gear icon, then select Account and settings New customer, then select Import customers The down arrow by New customer, then select Import customers

The Gear icon, then select Import data The down arrow by New customer, then select Import customers (Importing a list from the relevant center in QuickBooks Online is quicker if you're only importing one list type. Using the Gear icon is better if you're importing multiple lists.)

What should you select to remove a vendor from the list?

The Make inactive option from the dropdown in the Action column (You can't delete a vendor (or a customer) from QuickBooks Online, but you can hide them from the customer/vendor list by making them inactive.)

How can you check for unbilled charges or time in QuickBooks Online? Select all that apply. Via the money bar in the Vendor center Via the Reports center Via the Unbilled Charges card in the Dashboard Via the money bar in the Sales center Via the money bar in the Time tab in the left-hand navigation

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