Quickbooks Final

Select the area that should be checked or filled in order to track 1099 Vendors. "My Experts" Tab. "GEAR" Icon. "Privacy" Slider. "Get Things Done" Tab. "Last 30 Days (Profit and Loss)" Dropdown. "Last 30 Days (Expenses) Dropdown.

"Privacy" Slider.

Review the information for Duke's Basketball Camp. Based on the information provided identify is each statement below is true or false. An invoice dates September 10th of the current year will be due September 25th of the current year. If the terms of the customer are changed on Sept. 10 of the current year all the due dates on all open invoices dated before September 10th of the current year will be updated with new due dates. When creating an invoice for Duke's Basketball Camp, the terms on the invoice can only be Net 15.

An invoice dates September 10th of the current year will be due September 25th of the current year. (T) If the terms of the customer are changed on Sept. 10 of the current year all the due dates on all open invoices dated before September 10th of the current year will be updated with new due dates. (F) When creating an invoice for Duke's Basketball Camp, the terms on the invoice can only be Net 15. (F)

What is the difference between an Invoice and a Sales Receipt? An invoice records a sale and how much your customer owes. A sales receipt records the customer payment and can be used as a receipt when they pay their invoice. An invoice keeps track of future sales. A sales receipt records sales in their current accounting period. An invoice records a sale and how much your customer owes. A sales receipt records a sale and the payment you received. (It doesn't track any amount owed as well.) An invoice can be used to record customer and vendor transactions. A sales receipt only records customer sales.

An invoice records a sale and how much your customer owes. A sales receipt records a sale and the payment you received. (It doesn't track any amount owed as well.)

All of the fields below are fields that can be edited when changing the email sent to the customers with their invoice except which two? The message in the email. Priority. If the invoice is attached as a PDF. Greeting. Subject Line. From the address.

Priority. From the address.

Select two benefits to using Quickbooks Online. QBO is in the cloud and can be accessed from anywhere as long as you have an internet connection. Companies can easily invite their outside accountant to access their QBO company file remotely. The need to install software on the computer is eliminated. Users much purchase a new version of the software each year.

QBO is in the cloud and can be accessed from anywhere as long as you have an internet connection. Companies can easily invite their outside accountant to access their QBO company file remotely.

When entering a journal entry, what happens if the debits don't equal the credits? Quickbooks sends the difference to an adjustment account. Quickbooks ask you what to do with the unequal amount. Nothing. Quickbooks records the transaction as is. Quickbooks will not allow you to record the transaction.

Quickbooks will not allow you to record the transaction.

What transaction should you enter if a customer returns a damaged product, or in the case of a service, complains so much you decide to write them a check for a refund? Credit Memo Vendor Credit Refund Receipt Check

Refund Receipt

Select two ways to identify an unbilled billable expense. Run the report to open invoices. Run the report unbilled charges. Create a new invoice and any unbilled billable expense will appear on the sidebar. Create a new expense and any unbilled billable expense will appear on the sidebar.

Run the report unbilled charges. Create a new invoice and any unbilled billable expense will appear on the sidebar.

Decide whether each statement is true for Accrual Accounting or Cash Basis Accounting. A company makes a sale and records the expected revenue as an Accounts Receivable Transaction. A company makes a sale but revenue is not realized until the invoice is paid. A company receives their utility bill but their expenses is not recorded until the bill is paid. Provides a more accurate picture of the profitability of a company because it includes accounts receivable and payable.

A company makes a sale and records the expected revenue as an Accounts Receivable Transaction. (AA) A company makes a sale but revenue is not realized until the invoice is paid. (CBA) A company receives their utility bill but their expenses is not recorded until the bill is paid. (CBA) Provides a more accurate of the profitability of a company because it includes accounts receivable and payable. (AA)

For each statement below about recurring transactions, identify if the statement is true or false. A scheduled recurring transaction will process automatically at a set interval. An unscheduled recurring transaction must have a set date and time. A remind recurring transaction process automatically at a set interval.

A scheduled recurring transaction will process automatically at a set interval. (T) An unscheduled recurring transaction must have a set date and time. (F) A remind recurring transaction process automatically at a set interval. (F)

If you can customize the feature select "Yes", if not select "No". Accounting Method Font color for report title Display only non-zero columns Header

Accounting Method (Y) Font color for report title (N) Display only non-zero columns (Y) Header (Y)

Where in QuickBooks can you find out the status of what you owe to a vendor, and when it's due? Open Purchase Orders list. The money bar at the top of the vendors center. Accounts Payable Aging Report or The Vendor Balance Detail Report. Cash Flow Report.

Accounts Payable Aging Report or The Vendor Balance Detail Report.

Which two accounts of the following accounts would most likely appear on the Balance Sheet report? Gross Profit. Depreciation Expense. Accounts Receivable. Checking. Costs of Goods Sold.

Accounts Receivable. Checking.

True/False (Chart of accounts) All accounts must have a type. Detail types are optional Account numbers can be used, but do not have to be Accounts with a type fixed assets would appear on the profit and loss report

All accounts must have a type. Detail types are optional (F) Account numbers can be used, but do not have to be (T) Accounts with a type fixed assets would appear on the profit and loss report (F)

Which form cannot be customized in QuickBooks? Estimate Invoice Sales Receipt Bill

Bill

Which two user types below would be able to write a check in Quickbooks Online? (2) Time tracking Reports Company Admin Standard user vendors access only

Company Admin Standard user vendors access only

Which of the following statements are true regarding vendor credits? (2) If an inventory item is entered in the product/service field of the item details section of the vendor credit, the inventory quantity on hand balance would decrease. If an inventory item is entered in the product/service field of the item details section of the vendor credit, the inventory quantity on hand would increase. Vendor credit memos increase what you owe to the vendor Vendor credit memos decrease what you owe to the vendor

If an inventory item is entered in the product/service field of the item details section of the vendor credit, the inventory quantity on hand balance would decrease. Vendor credit memos decrease what you owe to the vendor.

When setting up a new inventory item, what accounts have to be defined? (Choose all that are applicable). Inventory assets account. Checking account. Income account. Expenses account. Payment account.

Inventory assets account. Income account. Expenses account.

Quickbooks Online allows you to connect directly to which of the following financial accounts to download activity into QBO? You state tax authority. The IRS. Most major US banks and credit processors. All of the above.

Most major US banks and credit processors.

Where do you click on the dashboard to temporarily hide information?

Privacy slider

What is the purpose of the Audit Log report? To track any changes and deletions to transactions as well as track which user makes the changes or deletions To prepare the books for an accounting firms audit To help preform the year-end audit To track attempts to access a restricted area

To track any changes and deletions to transactions as well as track which user makes the changes or deletions

You mailed a check to pay your monthly rent. The check was lost in the mail and was never cashed. What should you do with the check in QuickBooks? Change the amount of the check to zero. Void the check. Make a Journal Entry to reverse the check. Delete the check.

Void the check.

Which three statements are true about setting up a product or service in Quickbooks Online? (3) To create an invoice, you can use a product but not a service You can use one product/service to represent different services or goods. You cannot use one product/service to represent different services or goods. Products/services allow you to track in more detail without cluttering your Chart of Accounts for Profit & Loss. To create an invoice, you can use either a product or a service.

You can use one product/service to represent different services or goods. Products/services allow you to track in more detail without cluttering your Chart of Accounts for Profit & Loss. To create an invoice, you can use either a product or a service.

For each statement below about regarding sub-customers, identify if the statement is true or false. You must setup a sub-customer before a parent customer. If Bill with parent option is selected on sub-customer, you can see activity of the sub-customer in the parent customer account. If Bill with customer option is selected on the sub-customer, then payments received must be applied to parent customer. Sub-customers could be used when one customer has multiple shipping locations where you ship product.

You must setup a sub-customer before a parent customer. (F) If Bill with parent option is selected on sub-customer, you can see activity of the sub-customer in the parent customer account. (T) If Bill with customer option is selected on the sub-customer, then payments received must be applied to parent customer. (F) Sub-customers could be used when one customer has multiple shipping locations where you ship product. (T)

Determine whether each statement is related to QuickBooks Payment or Traditional Receive Payments You receive a check from your customer These are automatically deposited in your bank account Your customer clicks a link on their invoice email to pay with credit card You must deposit these in the bank

You receive a check from your customer (TRP) These are automatically deposited in your bank account (QBR) Your customer clicks a link on their invoice email to pay with credit card (QBR) You must deposit these in the bank (TRP)

Customer A pays cash in the morning for work done that morning. Later in the day, Customer B drops off a check for an unpaid invoice. You record the invoice and take both checks to the bank on the same day. Mark whether the following steps below are CORRECT or INCORRECT. (Not all steps will be CORRECT.) 1. Create a sales receipt for the work done for Customer A. 2. Click receive payment next to Customer B and record the payment received. 3. Select Deposit from the +NEW icon and select the transaction for Customer A and B. 4. Click receive payment next to Customer A and record the payment received.

1. Incorrect 2. Correct 3. Incorrect 4. Correct

Your boss wants to know if there are any overdue bills. What report would you run to give him this information? Accounts payable ageing report. Bills by due date report Open bill report Overdue bills report

Accounts payable ageing report

For each statement below, indicate whether it is True or False. After a transaction is downloaded from the bank feed into Quickbooks Online, Quickbooks will suggest the bank reconciliation discrepancy account if it does find an applicable bank rule or matching transactions. The first download after setting up the bank fees will include 90 days for transactions unless excluded. If you want to keep a downloaded transaction from going into company expenses you should exclude the transaction.

After a transaction is downloaded from the bank feed into Quickbooks Online, Quickbooks will suggest the bank reconciliation discrepancy account if it does find an applicable bank rule or matching transactions. (F) The first download after setting up the bank fees will include 90 days for transactions unless excluded. (T) If you want to keep a downloaded transaction from going into company expenses you should exclude the transaction. (T)

When should you select your checking account as the payment account on an Expense Form? When you are entering a debit card transaction. All of the answers are correct. When you are entering a payment made online directly from your bank account. When you are entering a wire transfer directly from your checking account.

All of the answers are correct.

What does the Apps tab on the left-handed navigation do in Quickbooks? (2) Allows you to open and use apps you are connected to Allows you to take applications from people who want to work for company Allows you to search for new apps to use Allows you to add users to your QBO Company

Allows you to open and use apps you are connected to Allows you to search for new apps to use

Your boss wants to know what the balance is for total assets, liabilities, and equity. What financial report would you use to find this information? Statement of Comprehensive income Profit and Loss Balance Sheet Cash Flow

Balance Sheet

True/False (Bank Rules) Bank rules can be used for automating checks Banks rules can be edited Bank rules help save time by automating the recording of recurring transactions downloaded from the bank account

Bank rules can be used for automating checks (F) Banks rules can be edited (T) Bank rules help save time by automating the recording of recurring transactions downloaded from the bank account (T)

To add a receipt into Quickbooks Online from your computer, what option do you select from the left-hand navigation to begin the process? Accounting. Expenses. You cannot upload receipts into Quickbooks Online. Banking. Taxes.

Banking.

True/False (Billable expenses) Billable expenses can be added to invoice and / or sales receipts. Checks, Bills, Bill Payments, and Expenses are all able to be marked billable For an expense to appear on an invoice sidebar the expense must be marked billable

Billable expenses can be added to invoice and / or sales receipts (F) Checks, Bills, Bill Payments, and Expenses are all able to be marked billable (F) For an expense to appear on an invoice sidebar the expense must be marked billable (T)

Select the choice from the dropdown menu to complete each sentence. (Choices; Status, Billing, Shipping, Preference) The "______" address identifies where the invoice to a customer should be mailed. The "______" address identifies where the products sold to the customer should be delivered.

Billing, Shipping

Select "Yes" if the account can be connected to QBO, select "No" if it cannot be connected to QBO. Checking Account Savings Account Prepaid Phone Account PayPal Credit Card Account

Checking Account (Y) Savings Account (Y) Prepaid Phone Account (N) PayPal (Y) Credit Card Account (Y)

How would you enter transactions that won't be downloaded from an online bank account in which you paid for a service using a debit card? Click on the +NEW icon and select Debit Card. Then fill out the debit card charge and save the transaction. Click on the +NEW icon and select expenses. Fill out the expense and use Debit Card as the payment method. Click on the +NEW icon and select bill. Enter a bill for transaction. Then go back to the +NEW icon and select pay bills. Click on the +NEW icon and select deposit. Fill out the deposit form and save the transaction.

Click on the +NEW icon and select expenses. Fill out the expense and use Debit Card as the payment method.

Your new employer would like to invoice her customers for job materials that she has to buy to complete a project. How does she accomplish this? There is no way to do this in QBO. Click the GEAR icon next to the company name. Click Account and Settings/Company Settings. Click the Expenses tab. Select "Track items and Expenses as billable". Click the create menu GREEN+ icon. On the Expense form, click Customize at the bottom of the form.Select "Track items and Expenses as billable". Click the GEAR icon next to the company name. Click custom form styles. Edit the Expenses form. Select "Track items and Expenses as billable".

Click the GEAR icon next to the company name. Click Account and Settings/Company Settings. Click the Expenses tab. Select "Track items and Expenses as billable".

You're working in QuickBooks at a coffee shop for a few hours and don't want to share all of your company's financial details with everyone there. How can you fix this? Click the private mode switch on the dashboard to prevent sensitive financial information from being displayed in this window. From the company menu settings, select the option to Hide Financial Details. When logging into your Quickbooks data, check the box next to private mode. There is not a way to exclude this type of information from your data.

Click the private mode switch on the dashboard to prevent sensitive financial information from being displayed in this window.

Select "Yes: if the statement is a benefit of connecting accounts to QBO, otherwise select "No". Connecting accounts can reduce data entry into QBO Connecting accounts allows you to create bank rules to automate posting Not all accounts can be connected to QBO

Connecting accounts can reduce data entry into QBO (Y) Connecting accounts allows you to create bank rules to automate posting (Y) Not all accounts can be connected to QBO (N)

For each statement below, indicate whether it is True or False. Connecting to online bank accounts and downloading transactions, increases the likelihood of not recording the transaction. Connect to online bank accounts and downloading transactions, increases the risk of manual data entry errors. Connect to online bank accounts and downloading transactions allows you to apply banking rules to automatically categorize common transactions. Connect to online bank accounts and downloading transactions, increases the time spent on data entry.

Connecting to online bank accounts and downloading transactions, increases the likelihood of not recording the transaction. (F) Connect to online bank accounts and downloading transactions, increases the risk of manual data entry errors. (F) Connect to online bank accounts and downloading transactions allows you to apply banking rules to automatically categorize common transactions. (T) Connect to online bank accounts and downloading transactions, increases the time spent on data entry. (F)

What transaction should you enter if a customer returns a damaged product they have not yet paid for. Credit Memo. Vendor Credit. Check. Refund Receipt.

Credit Memo.

Select "Yes" if the statement is correct, otherwise select "No". Discounts can be a percentage rate. Discounts can be a dollar amount. Discounts are a list in QBO. Discounts are always applied to total after the sales tax is added.

Discounts can be a percentage rate. (Y) Discounts can be a dollar amount. (Y) Discounts are a list in QBO. (N) Discounts are always applied to total after the sales tax is added. (N)

What information would you see on a standard accounts payable aging summary or accounts payable aging detail report? (Select Two). Customers who owe you money. Checks written to vendors. The balance in your checking account. Due dates for bills. Vendors who owe you money.

Due dates for bills. Vendors who owe you money.

You are setting up new product you will frequently need to purchase for your company. You want Quickbooks Online to provide fields to track the product. How do you setup a new product to be tracked by Quickbooks? Type a comment in the note box explaining this purchase is from an supplier. Enable the box, "Vendor Purchase". Type a comment in the note box reminding yourself to add this product/service to inventory. Enable the box, "I purchase this product/service from a supplier."

Enable the box, "I purchase this product/service from a supplier."

Fill in the blanks / Define the term (Choices; For review, categorized, excluded) This is a transaction you downloaded from a bank account but you do not want record the "_____" transaction from some reason. This is a transaction that has been downloaded from a bank accounts but needs to be evaluated before its can be posted. This is a transaction that has been downloaded from a bank account and has been reviewed and posted.

Excluded, For review, Categorized

What is one reason to not use bank deposit or journal entry screen to record sales? The income from the sales will not show up in the bank account. If you record sales through the bank deposit or journal entry screen, the sale will not appear on sales report. It is actually a good idea to record sales through bank deposits and journal entries. The cash flow report will be wrong.

If you record sales through the bank deposit or journal entry screen, the sale will not appear on sales report.

You notice an invoice you entered last month has changed significantly. You didn't make the change. How can you find out who changed it and what they changed? You cannot get this information. Look at the Audit Log report. Look at the Journal of Changes report. While the invoice is open, Click More > Show Prior State.

Look at the Audit Log report.

Complete each statement by using the appropriate word or phrase from the list. (Choices are as followed: Create, Edit, Save for later, Match, Review.) (Not all choices will be used.) If Quickbooks finds an existing transaction in your books that is exactly the same as uploaded receipts or bills you should select to "___" it. If Quickbooks can't find an existing transaction in your books that is exactly the same as uploaded receipts or bills you should select to "___" it. If Quickbooks finds more then one potential match to your uploaded receipt you should "___" the potential matches, the select the correct bill or expense.

Match, Create, Review

The owner of the business ask you to setup QuickBooks to automatically email him to specific report on the regular basis (e.g., weekly, or monthly). How would you do this? Select reports and click recurring reports. Select the line of the report on the list and click edit. Then click "set the email schedule for for this group" and set the details for the email schedule. Run the report you want to email. Click Save Customization. Select reports and go to Custom reports. Select the line of the report on the list and click edit. Set the email schedule in this window. Select reports and then navigate to the report for which you want to create an emailing schedule. Click the email schedule button. Enter the email address and the time scheduled for the email, and then select save. You can't do this automatically in Quickbooks.

Run the report you want to email. Click Save Customization. Select reports and go to Custom reports. Select the line of the report on the list and click edit. Set the email schedule in this window.

For each Money-In transaction, match the action to the transaction. Actions: Money returned to a customer, A cash sale to a customer, Sale to a customer on an account, BLANK SPACE, Money taken to the bank. Transactions: Invoice, Sales Receipts, Deposit, Refund Receipt, Credit Memo.

Sale to a customer on an account = Invoice A cash sale to a customer = Sales Receipts Money taken to the bank = Deposit Money returned to a customer = Refund Receipt BLANK SPACE = Credit Memo

You're setting up a new customer. How do you tell QuickBooks that this customer's invoices should be due in 30 days? Set the customer's terms to Net30. You have to set this on each invoice you enter for the customer. Set the due date on the next invoice you enter for the customer. Select the check box next to due in 30 days.

Set the customer's terms to Net30

You made a sale and the customer paid the entire amount in cash. How do you enter this sale in QuickBooks Online? Put the steps for entering this sale in the correct order. Not all will be used. (Choose Four). "Click the +NEW Icon" "Select Record Sale" "Select Invoice" "Enter the sale and payment information" "Enter purchase order information" "Press Exit" "Select the Sales Receipt" "Save the transaction"

Step 1: "Click the +NEW Icon" Step 2: "Select the Sales Receipt" Step 3: "Enter the sale and payment information" Step 4: "Save the transaction"

You need to change your company address in QuickBooks Online. Put the steps for changing the company address in the correct order. Not all steps will be used. (Choose Two) "Click the +NEW icon at the top of the screen" "Click the company settings option on the homepage" "Click the GEAR icon on the homepage" "Select Account and Settings" "Click the Company tab on the left side of the screen and select Account and Settings"

Step 1: "Click the GEAR icon on the homepage" Step 2: "Select Account and Settings"

Your computer retail store has decided to sell repair services. You must add this new list to Quickbooks Online. How do you add a new service list to Quickbooks Online? Put the steps for adding a new list in the correct order. "Enter a Service Name, Information (Description), Rate, and Account to track income." "Click the NEW button." "Select Service." "Click the GEAR icon." "Select Products and Services."

Step 1: "Click the GEAR icon." Step 2: "Select Products and Services." Step 3: "Click the NEW button." Step 4: "Select Service." Step 5:"Enter a Service Name, Information (Description), Rate, and Account to track income."

The vendor that is used to provide all your office supplies has changed your payment terms. Put the steps in order for how to change the payment terms for the vendor in QuickBooks Online. Assume the term is already in the Teams list. Not all steps will be used. (Choose Six). "Select the vendor tab" "Select expenses from the left-hand navigation" "Change the term to the new term" "Select terms from the All List Area" "Click the GEAR icon" "Click on the Name of the vendor you want to edit" "Select Save and Close" "Select New Term" "Click the +NEW Icon" "Select edit"

Step 1: "Select expenses from the left-hand navigation" Step 2: "Select the vendor tab" Step 3: "Click on the Name of the vendor you want to edit" Step 4: "Select edit" Step 5: "Change the term to the new term" Step 6: "Select Save and Close"

You need to track your company sales and expenses by department. Put the following steps in order for tracking transactions for departments in the correct order. Not all steps will be used. (Choose Six). "Turn on Department Tracking in company settings." "On sales and expenses transactions, select the class(es) associated with each transaction." "Click the tracking button." "Run the profit and loss by class report." "Turn on classes in company settings." "Create your departments on the class list."

Step 1: "Turn on classes in company settings." "Create your departments on the class list." Step 2: "Create your departments on the class list." Step 3: "On sales and expenses transactions, select the class(es) associated with each transaction." Step 4: "Run the profit and loss by class report." Step 5: "Turn on Department Tracking in company settings." Step 6: "Click the tracking button."

How do you track Accounts Payable (A/P) in QuickBooks? Enter a check for expenses. Step 1: Record a Journal Entry to Accounts Payable. Step 2: Write a check to pay your vendor/supplier. Step 1: Enter a bill. Step 2: Pay the Bill in the Pay Bills window. Step 1: Enter an Expense. Step 2: Pay the Expense.

Step 1: Enter a bill. Step 2: Pay the Bill in the Pay Bills window.

Select three statements that are correct about journal entries. (3) You should enter your name in the name field on the journal entry form to identify who is creating the entry The accounts used on the journal entry come from the chart of accounts A journal entry must have a date Total debits must equal total credits on a journal entry A journal entry can have two lines

The accounts used on the journal entry come from the chart of accounts A journal entry must have a date Total debits must equal total credits on a journal entry

Select two statements below that are correct when it comes to merging vendors. To merge vendor A into vendor B you should edit the display name of vendor A to match vendor B. To merge vendor A into vendor B you should edit the display name of vendor B to match vendor A. When merging vendor A into vendor B all the transactions of vendor A will be permanently deleted. Merging vendors cannot be undone.

To merge vendor A into vendor B you should edit the display name of vendor A to match vendor B. Merging vendors cannot be undone.

Which of the following statements is true regarding undeposited funds? Undeposited funds is an account used to record unpaid invoces. Undeposited funds is an item type usually associated with NSF fees. Undeposited funds is an account used to record payments before you make deposits. Undeposited funds is an item type usually associated with bad debit.

Undeposited funds is an account used to record payments before you make deposits

From the list below, select two ways you can upload receipts into QuickBooks Online. (2) Upload a photo of your receipt from your computer Email the receipt to a custom email in QBO Download the receipt directly from the credit card company into QBO

Upload a photo of your receipt from your computer Email the receipt to a custom email in QBO

You have a customer who will now also be a vendor. How do you handle this Quickbooks? Use a "V" at the end of the display name on the vendor record to differentiate the vendor record from the customer record. Select "also use a vendor" option for the customer record Make sure the vendor flag is on. As long as the address is different, you dont need to do anything.

Use a "V" at the end of the display name on the vendor record to differentiate the vendor record from the customer record.

a company uses QuickBooks, but they need another program or app to manage all the interactions they have with their customers, this is usually called a customer relationship management or CRM application. they dont want to enter every customer twice, once into QuickBooks and once into CRM application. what do you suggest they do? Use the Apps tab in Quickbooks to find a CRM app. Track their CRM in Quickbooks. Look for a CRM app that produces financial statements. Use that app to record the company's sales while continuing to track their expenses in Quickbooks. Use the Export to Excel function in Quickbooks to export the customers periodically. Then import them into the CRM application.

Use the Apps tab in Quickbooks to find a CRM app.

Select "Yes" if its a good candidate to apply a bank rule, otherwise select "No". Utility Expenses. Monthly rent expense payments. Purchase of fuel for your work trucks. Hourly payroll worker check.

Utility Expenses. (Y) Monthly rent expense payments. (Y) Purchase of fuel for your work trucks. (Y) Hourly payroll worker check. (N)

Which two statements below are correct as it relates to close the books feature? (2) The closing date is used to generate your monthly reports When setting a closing date you can choose to warn users or require passwords for any transactions that are attempted to be edited, deleted or added prior to the closing date The closing date is set automatically on the first day of each month If a warning is used to instead of a password the user is not stopped from making changes

When setting a closing date you can choose to warn users or require passwords for any transactions that are attempted to be edited, deleted or added prior to the closing date If a warning is used to instead of a password the user is not stopped from making changes

For each statement below, indicate whether it is True or False. When you receive a check from your customer to pay an open invoice, you should select check to record the amount. Vendor credits can be used to reduce the amounts paid to a vendor. After entering a bill, you should select to pay bills when the time comes. Entering a bill increase Accounts Payable.

When you receive a check from your customer to pay an open invoice, you should select check to record the amount. (F) Vendor credits can be used to reduce the amounts paid to a vendor. (T) After entering a bill, you should select to pay bills when the time comes. (T) Entering a bill increase Accounts Payable. (T)

True/False You can enter a sale receipt if the customer field is empty You can enter a receive payment if the customer field is empty You can enter an invoice if the customer field is empty

You can enter a sale receipt if the customer field is empty (T) You can enter a receive payment if the customer field is empty (F) You can enter an invoice if the customer field is empty (F)

True/False You can enter an expenses if the payee field is empty You can enter a check if the vendor field is empty You can enter a bill if the vendor field is empty

You can enter an expenses if the payee field is empty (T) You can enter a check if the vendor field is empty (T) You can enter a bill if the vendor field is empty (F)

For each statement below about report delivery, indentify if this something you can do with a report by selecting "Yes", otherwise select "No"> You can export Quickbooks reports to Excel. You can export a Quickbooks reports to a PDF. You can email Quickbooks reports. You can import a report from Excel, back into Quickbooks.

You can export Quickbooks reports to Excel. (Y) You can export a Quickbooks reports to a PDF. (Y) You can email Quickbooks reports. (Y) You can import a report from Excel, back into Quickbooks. (N)

True/False (Related to bills and paying bills) You can pay bills using a check as the payment method You have to pay a bill before you enter the bill Entering a bill will decrease accounts payable

You can pay bills using a check as the payment method (T) You have to pay a bill before you enter the bill (F) Entering a bill will decrease accounts payable (F)

You need to create a recurring invoice. Select two statements that are true about creating a recurring invoice. (2) You can set recurring invoice to run for a fixed number of times. Recurring invoices automatically generate past due statements. If the recurring invoice is a reminder, the invoice will generate automatically. To create the recurring invoice, open or create the invoice, and then click make recurring.

You can set recurring invoice to run for a fixed number of times. To create the recurring invoice, open or create the invoice, and then click make recurring.

The company that just hired you uses Quickbooks Online. You notice there are many duplicate entries on lists, such as the same customer or account entered twice with slightly different spellings. You've decided to merge the duplicates. Which three statements are true about merging list entries? (Choose three) You cannot merge a customer with a vendor entry. You can only merge names from the same Type. You can merge an income account with an expense account. You cannot merge expenses and items.

You cannot merge a customer with a vendor entry. You can only merge names from the same Type. You cannot merge expenses and items.

When should you not delete a check? You printed a check and the check number has been used. You accidentally recorded the same check (with the same check number) twice. You recorded a check but have not printed it yet. You printed a check on a blank paper but now realize you don't want to record the check.

You printed a check and the check number has been used.