quickbooks

What can you do in the Reports and Graphs Preferences (Edit>Preferences) A. Change the summary basis (accural or Cash) for all reports B. change format options like font color and size C. set which date to use for aging reports D. All of the above

D

What do you need to record in Quickbooks when a customer's check bounces (the customer had non sufficient funds, NSF)? A. There is less money in the checking B.The customer owes you for the amount of the check originally a bounced check fee C. the NSF the bank charged you D All of the above

D

What do you to record in Quickbooks when a customers check bounces(the customer had non sufficient funds NSF? A. There is less money in the checking acct B. The customer owes for the amount of the check and optionally a bounced check fee C. the NSF fee the bank charged you D. All of the above

D

What happens if you double click a diamond on a report column? A. Quickbooks opens a detailed report about just that column B. Quickbooks automatically adjusts the column width to fit the data in the column C. Quickbooks hides the columng D. none of the above

D

What is one way that quickbooks uses the Acct type? A. To track revenue and expense by office or business segment B. For financial ratios in the Analysis module C. To change the color of different sections on the financial stmt D. to identify where the acct appears on the financial stmts.

D

What is the maximum number of names that can be included on the Names lists in Quickbooks Pro or Premier? A. 10,000 B 1,000 C. 2,500 D. 14,500

D

What options (tabs) do you have to change a report when you click Customize Report? A. Display B. Filters C. Header/Footer and Fonts and Numbers D. All of the above

D

When paying payroll taxes, you must A.Use write checks B. Enter the payments in the check register C. Use pay bills D. Use Pay liabilities or Go to the Payroll Center and pay from there E.Pay Online directly via the IRS website Quickbooks will auto reconcile

D

When should you create an invoice in quickbooks? A. when a customer purchases goods or services and pays you in cash at the time of the sale. B. When a customer purchases goods or services and pays you by check or credit card at the time of the sale C> When a customer purchases goods or services, but you don't want to record the sales as final D. When a customer purchases goods or services but does not pay you at the time of the sale

D

When would you enter a journal entry? A. To correct errors(if you have a strong accounting background) B. For year end adjustments C. To enter depreciation D. All of the above

D

When you invoice for the time and costs, where does Quickbooks get the billable time or costs? A. Quickbooks places a "time/Costs" stamp on the invoice, but you must manually enter the line items on the invoice. B. From billable time entered on the bills and checks. C. From payroll costs/expenses marked as billable on paychecks D. from billable time entered on timesheets and/or billable costs entered on checks and bills.

D

When you run Financial Stmts in Quickboooks what bookkeeping basis can you use to view the report A.Cash Basis B. Accrual Basis C. You can switch the bookkeeping basis if you want D. All of the above

D

When you send a Quickbooks report to Excel, which features allow you to have a drop down list for each column to allow filtering? A. Advanced Collapse B. Auto Outline C. Advanced Expand D. Auto Filter

D

Which of he following Payroll Services are available with Quickbooks? A. Basic B. Enhanced C. Assisted D. All of the above

D

Which of the following is NOT a backup option in QuickBooks. A. Manually back up the file B. Automatically back up the data file when closing Quickbooks. C. Schedule an unattended backup D. All of the above are Quickbook backup options.

D

Which of the following is NOT a backup option within Quickbooks A. Manually back up the file B. Automatically back up the data file when closing Quickbooks. C. backup online D. icloud E All of the above

D

Which of the following is NOT an Item type? A. Inventory Part B. Service C. Non-Inventory Part D. Income

D

Which of the following is a way to access a report in Quickbooks? A. From the Reports menu B. From the Report Center C. By Clicking Reports at the bottom of lists D. All of the above

D

Which of the following statements is true concerning items? A. You can use one item to represent different services or goods. B. Items allow you to track your sales in more detail without cluttering your Chart of Accts or Profit and Loss C To create an invoice, you must use an item d. All of the above

D

Why would you restore a data file from the backup file? A. You wish to review the company data as it stood at an earlier date. B. the company data file on your hard drive is damaged and cannot be used. C. Your computer crashed. Your reloaded uickboos and now you are ready to open company file. D. All of the Above.

D

You didnt like how a form(for example invoice) looks when you print it. How can you change it? A. Export the form to word and edit it there B. Save it as a PDF adn use PDF editing software C. Export the form to Excel and edit it there D. Click Customize at he top of the form.

D

When entering a journal entry, what happens if the debits don't equal the credits? A. Quickbooks sends the difference to an adjustment acct B. Quickbooks will not allow you to record the transaction C. Quickbooks asks you what to do with the unequal amount D. Nothing Quickbook record the transcation as is

B

When would you create an estimate to Quickbooks? A. When you want to send a billing statement B. When a customer requests a bid, quote or proposal C When a customer loses an invoice and needs a second copy D. When a customer pays for goods and service at the time of the sale

B

When would you use the Expense Tab on a payroll liablity check A. Never B. To enter late fees/penalties or interest C. there is no Expense tab on a payroll liability check D. to pay an employees garnishment

B

Which of the functions can only be preformed by the Adminstrator A. Merge entries on lists B. Add new users and change their access privileges C. Memorize custom reports D. Back up the data file

B

Which of the following reports answers the question "What transactions make up the current balance I owe each Vendor?" A. A/P Aging summary B. Accts Payable graph C. Vendor Balance Detail D. Expenses by Vendor Detail

C

When you start a company or are hired as a bookkeeper, it is important to know which edition of Quickbooks your are using. What are the major Quickbooks editions? A. Quickbooks Online, Pro Premier Enterprise Solution B. Quickbooks Online, Basic, Pro C. Quickbooks Basic, Pro D. Quickbooks premier, enterprise solutions

A

Which report helps your count inventory on hand A Physical inventory worksheet B. Inventory stock status by item C. Fixed asset listing D. Inventory on hand listing

A

You need to enter the same transaction each month (for example, an insurance payment). How can you automate this process in QuickBooks? A. While the transaction is on the screen choose Edit>Memorize Check(or the name of the transaction) B. Choose File>Automate transactions and use the wizard to set up the automated checks or other transactions C. From Preferences, choose General and click Set Up Automated Transactions D. While the transaction is on the screen click the Recur button

A

How do you create a memorized group of reports? A. Click the REPORT center icon, THen click the CReate new report group button B. Open the Memorized Report List and then click Memorized Report>New Group C. Choose FIle >Reports>Memorized Reprots >Create Group D. Open the GROUP Reports list and then click Groups > NEw Group

B

How do you create a memorized group of reports? A. Click the Report Center icon. Then click Create New Report Group button. B. Open the Memorized Report List and then click Memorized Report ?New Group C. Choose File> Reports>Memorized Reports? Create Group D. Open the Group Report Lists and then click Groups> New Group

B

How do you display or print a batch/group of reports quickly? A. The only way is to create a memorized group of reports B Choose Reports > Process Multiple Reports C. you cant do this in Quickbooks D. On the Home Page click batch Reports.

B

If you choose to remove transactions as of a specific date from the "Condense Data" window, what does QuickBooks do? A. Removes all payroll transactions that occurred on that date. This is a great way to fix the mistakes a new person made on that day B. Removes all transactions while leaving lists, preferences, and service subscriptions intact. C. Changes the company's Start date. D. Deletes all transactions as well as user password and access privileges

B

If you set up and track Sales Tax in QuickBooks, which category of reports contains Sales Tax reports? A. Sales Reports B. Vendors and Payables C. Sales Tax D. Tax liability

B

If you want to modify the account or name filters within a specific report you have open, where do you click? A. Click on Add filters on the top right of the screen,then select the filters to add B. Click on Customize Report on the top left of the Report Window then go to the filter tab, choose the filters in there C. Go to edit, Preferences, Reports, and then change the default report filters for all reports D. None of the above

B

Suppose you customized an invoice in QuickBooks. You really like how it looks and want your estimates to look similar. How do you do this A. You cannon duplicate the look and feel of on form to another in Quickbooks B. Choose LISTS>Templates select the form you want to duplicate. then click the Templates button and select duplicate C. Choose CUSTomers>Create Estimate>Duplicate Form D. OPen the customized invoice and click the duplicate button. You then select the type of template you want.

B

Suppose your address information appears on the upper left of your invoice and you want to move it to the lower right. How would you do this? A. Use the Quickbooks Print Engine Editor B. Use the layout designer C. Open the financial stmt designer D. use the custom form designer

B

What are the main sections of Profit and Loss? A. Income expenses and Liabilitiies B. Income Cost of Goods Sold and expenses C. Income assets and owers equity D. assets Liabilities and Equity

B

What do the diamonds mean on certain lists (for example, the diamonds to the left of each Customer: Job)? A. You are not allowed to delete the entry B. You can click on the diamond and move the list entry to a different location on the list C. THere are open transactions related to the list entry D. You cannot move the list entry

B

What does the term "Double entry acctg mean? A that the income and expense acct are always part of every transaction B. There are always at least two acct involved in every financial transaction C. That the Cost of Goods Sold acct and the Liabilities acct are always part of a transaction D. the Equity and asset accts are always involved in a transactions.

B

What is equity? A. What you in the business B. Assets minus liabilities C. What you owe to others in the business D. Assets plus liabilities

B

What is the easiest way to organize your memorized reports? A. Track you memorized reports in Excel B. Create a report Group c. Delete reports from your Memorized Report list quarterly to keep the list manageable D. You are only allowed to create 5 memorized reports, so there is no need to organize your reports.

B

What is the propose of the Chart of Accts? A. It allows accts to view accting record remotely B. It is how you categorize financial transactions C. to see a graphical chart of income and expenses D. To catergorize items

B

What is the purpose of a subaccount? A. Track departments or locations efficiently B. Track finances in more detail by grouping accounts in a logical fashion and show a subtotal for those accts. C. To show different Account Types together in one section of the report D. None of the above

B

What is the relationship between an account and an item A. You can either enable accts or items to be used in Quickbooks but not both. B. Items are products and services used to track purchases and sales. they point /post to the assigned acct when used in transactions c. there is only one acct that can be assigned per inventory item D. Acct do not have any relationship with the items E. none of the above

B

During the Advanced Detailed Setup, how do you setup a new account that is not on the default list of accounts during the EasySetup Interview? A. You can't add accounts that are not on the Quickbooks default list. Finish the interview and add the accounts directly to the Chart Of Accounts. B. Click Add new Account in the EasyStep Interview C. Click Edit Account during the EasyStep Interview D. Select Import My chart Of Accounts

A

How do you combine or merge two list entries? A. Rename the unwanted list entry to match the name of the list entry you want to merge into B. Open the list entry you want to get rid of and click Merge C, From the bottom of the list, click the Activities menu and select Combine Entries. D. You cannot combine or merge two entries

A

How do you set up multiple users in Quickbooks Pro or Premier? A. Choose Company> Set UP user and passwords > set up users B. Choose Edit> preferences and select the Authorized Users Preferences C. You can't set up multiple users in Quickbooks pro or Premier but only in Enterpirse solutions or online D. During the loading screen when you install quickbooks on that users machine

A

How do you use Write Checks to payroll Liabilities so your Payroll reports are accurate? A. You can't B. On the write checks window, click the items tab and enter Payroll items you are paying C. On the write check window click the Payroll items tab and enter the Payroll items you are paying D. Select the Payroll Liability checkbox on the Write checks window.

A

If the computer that houses your QuickBooks data crashes, what should you do? A. Restore a back up copy of your company file B. Create a back up copy of your company file C. Condense your company file data D. Export your data to Excel

A

If you associate a service item with two accounts, how does QuickBooks know which account to use on a transaction? A. When the item is on a sales form, Quickbooks uses the account under Sales Information in the item set up. When its on a purchase form, it uses the account under Purchase Information B. When you enter the item on a transaction ,Quickbooks asks which account to use C. You cannon associate two accounts to an item D Items do that affect accounts.

A

In the pay Scheduled liabilities section of the payroll center Quickbooks lists the Federal 941 payment A. On one line B. On two lines, Fica and Medicare on one line and federal holding on a separate line C. On 3 lines, one each for FICA, medicare, and federal withholding D. on 5 lines, one each for fica company, medicare company, medicare employee, federal withholding

A

What are the 2 main Financial Stmt you can run from the " Company and Financial" category reports A. Balance sheet, Profit and loss B. Balance sheet Stmt of Operations C. Profit and loss Stmt of Operations D. Stmt of Operations and Stmt of Financial Position

A

What are the first two steps to set up payroll in Quickbooks? A. 1/ sign up for a payroll service and 2 complete the payroll setup interview. B. sign up for a payroll service and 2 setup payroll schedule C. 1. turn on payroll through preferences and 2 complete the Payroll setup D. 1. Complete the payroll setup interview and 2 set up employees

A

What keyboard shortcut allows you to see a total for all four names lists? A. F2 B. Ctrl + L C. F12 D. Ctrl + 4

A

When you create a stmt and select " all open transactions as of stmt date" Wht does quickbooks show on the stmt? A. Open transactions as of the stmt date B. All transactions during the specified date range C. invoice item details for invoices D. Customer payments that havent been deposited.

A

You notice that multiple accts should actually be subaccts. How can you quickly make these accts subaccts of another acct? A. Click on the diamond to the left of the acct drag it below the appropiate parent acct and release the mouse button. Then click the diamond again drag it to the right and release the mouse button. B. click on an acct to select it. Then click the Lists menu and select Chart of ACCTs.>> Make subacct C. You must click Subacct of when you set up the new acct if you failed to mark the acct as a sub acct during set up D. To make a subacct right click on the acct and choose make subacct

A

You notice that when you print an invoice, the information in the field is cut off )that is it doestnt fit) How can you fix this? A. Use the Layout designer to make the field wider B. Use a different invoice template C. this can't happen in Quickbooks, as field sizes are automatically adjusted to fit D. Sen the invoice to Work and use that form instead

A

You suspect that someone has changed a transaction. What report should you run? A. Audit trail report B. User Entry Report C. Modified Transaction Report D. Changed Transaction Reprt

A

When setting up a new company through the Advanced Detailed Setup some company information is optional and some is absolutely required. Which of the following pieces of information does Quickbooks require you to enter during the EasyStep Interview? A. Company Name B. Company password C. Tax ID D. All of the above

A. Company Name

You've customized an invoice and are ready to use it, but when you open the invoice, QuickBooks displays the default Intuit Invoice. How do you change it? A. Choose Lists>Templates and delete the default invoice from the list of templates B. On the invoice, click the Template drop down arrow and select your customized invoice C. Choose Edit? Preferences and select the Sales and Customer Preferences under the company tab D. Choose Lists> Templates and double click your customized invoice select Use as Default in the top left window.

B

Can you delete a list entry (for example, an item)? A. Yes, if the list entry is not used in any transcations or is not part of another list entry B. No, if the list entry is used in any transactions or is part of another list entry C. Both A and B are correct D. No you can never delete a list entry.

C

How can you stop yourself and others from deleting, editing, or adding transactions in a closed period? A. Start a new company file each period (fiscal yr) B. Change the fiscal yr in the company's information window C. Set a closing date D. Edit the users profile and enter a date in the Restrict Entry after this date field

C

How do you edit a collections letter? A. You cant edit the default collection letters. B. You bust click subacct of when you set up the new acct. If you fail to mark the acct as a sub acct. C. Choose company > Prepare letters with Envelopes? Customize Letter Templates D. When Quickbooks opens the letter in word click the Edit template button at the top of the quickbooks letter.

C

How do you restore a company file from a backup copy? A. Chose FILE> BACK UP. then click the restore from Backup button. B. Choose FILE>UTILITIES>FILE OPERATIONS > RESTORE C. Choose FILE>oPEN OR RESTORE COMPANY. Select restore a backup copy and click next. Choose Local or Online Backup and click "NEXT". Select the file to restore and click open. choose where to restore the file to and click Save. D. Click the RESTORE icon on the Home Page

C

How do you set up multiple business in quickbooks (assuming each business files a separate tax return)? A. Purchase a separate Quickbooks License for each company you need to set up. B. Use the Advanced Detailed Setup to go through the EasyStep interview for the oldest company first, and then choose FIlE > ADD A SEPARATE BUSINESS AT THE END OF THE INTERVIEW. C. Use the Advanced Detailed setup to go through the easy step interview for each company to create a separate company file. D. Use the Advanced Detailed setup to go through the easy step enter largest company first, and the choose for FIlE > ADD A SEPARATE BUSINESS AT THE END OF THE INTERVIEW.

C

If you moved a list entry up or down, what happens when you add a new entry to the list? A. Quickbooks adds new list entries to the bottom of the list, regardless of the alphabetic order B. Quickbook adds new list entries in alphabetic order C. Quickbooks adds new list entries to the top of the list, regardless of the alphabetic order D. Quickbooks ask you how to sort new list entries

C

Suppose you have to track a specific piece of information about your customers that Quickbooks does not track. What is the best way to do this? A. Export the customer list to Excel add the information there and re-import the list B. Use the notes feature for each customer C. Edit a customer and click the Additional Info tab. Click Define fields to create a custom field to track anything you want D. You cant create new fields or rename fields in Quickbooks.

C

What does a budget offer in Quickbooks that a forecast does not offer? A. More options for class reports B. They offer the same options C. More reporting options D. Fewer reporting options

C

What form must you give to an employee? A. 1099 B. 1096 C. W-2 D. 1040

C

What happens if you click Collapse on a report? A. Quickbooks minimizes the report on the home page B. Quickbooks on ly shows data for the current month C. Quickbooks hides Subaccts and only shows Parent accts. D. Quickbooks displays the report smaller so you can see other things on you screen

C

What happens when you press F2 in Quickbooks A. Nothing, because function keys are not designed to work with Quickbooks B. Quickbooks opens the HELP C. Quickbooks opens the Product Information window which includes version and company file information. D. Quickbooks closes all windows

C

What is a sales order? A. Its a form utilized to order items that will be sold to you by your suppliers B. It's a type of invoice used for retail business. C. It's a non posting transaction used to log a sale before delivering the product or service. It is very useful to create back orders when inventory is not in stock. D. It's a type of bill that prepares the Accounts Payable during the order process E. Non of the above

C

What is the purpose of Progress Invoicing? A. To invoice items marked so billable B. To automatically update a customers job states C. To invoice from an estimate in increments D. To convert sales order to an invoice

C

What is the purpose of progress invoicing A. To invoice items marked as billable B. To automaticallu update a customers job status C. To invoice from an estimate in increments D. To convert a sales order to an invoice.

C

What item type should you use for inventory that you assemble from other items and then sell? A. group B. Inventory Part C. Inventory Assembly D. Non inventory Part

C

What lists can be imported from excel spreadsheets, when setting Quickbooks online company A. Locations, classes, products and services and vendors B. Chart of accts customers reports and recurring transaction C. Chart of Accts customer products and services and vendors D. transactions, billable expenses reports and chart of accts

C

What report should you use to help complete the state unemployment tax form? A. Payroll Summary B. Payroll Data Review C. Employees State Tax Detail D. State unemployment report

C

What transactions should you enter if a customer returns a damaged product or, in the case of a service, complaint so much you decide to offer a refund? A. Debit Memo B. Credit Memo C Customer Return D Check or Bill

C

When should you use a Sales Receipt in Quickbooks? A. to give a customer a receipt for payment of an invoice B. To record a customer prepayment or deposit. C. to record a customer payment at the time of sale D. To enter a customer early payment discount?

C

When you set up a new payroll item using EZ setup Wizard, which is not a choice? A. Compensation B. Retirement Benefits C. City/Local Taxes D. Insurance Benefits

C

Which of the following is not a type of collection letter offered by Quickbooks A. Formal B. Compassionate C. Harsh D. Friendly

C

Which of the following is not one of the 5 payroll option/service? A.Standard payroll B. Assisted payroll C. Premier payroll D. Enhanced payroll

C

Which of the following statements is true concerning how Quickbook tracks sales taxes? A. Quickbooks uses the customer terms to determine when sales taxes are due B. Quickooks always calculates the amount due for sales tax upon receipt of payment C. You can specify that sales tax is as the invoice date or upon receipt of payment D. Quickbook always calculates the amount due for sales taxes based on the invoice date

C

You have customized and then memorized a report. What does QuickBooks save when memorizing a report? A. Report Header filters and transactions B. Transactions Only C. Report header filters, and columns but no the actual transactions D. Everything. A memorized report is like a photographic snapshot of a report

C

You successfully reconciled the checking account last month. This month, when you begin to reconcile the same account, you notice that the beginning balance calculated by QuickBooks is different from the beginning balance according to the bank. How can this happen? A. It can't happen B. Someone changed eh beginning balance amount C. Someone changed or deleted a cleared transaction D. The bank transposed some numbers on a check or deposit

C

How do you customize QuickBooks by changing the color scheme and adding or removing icons from the home page? A. You cannot change the color schemeof Quickbooks B. Click Change the look of Quickbooks on the HOme page C. Right Click on an icon on the HOme page to remove it or replace it. Right click on the Home page in blank space to change the color scheme D. Choose Eit>Preferences > Desktop View

D

How do you move columns on a report? A. Click customize report and in the display tab under columns click the diamond to the left of the column and drag it to the desired position B. You cant do this in Quickbooks. You have to export the report to Excel first C Click the diamond to the right of the column and drag i to the desired position. D. Move you cursor over the column heading and when it becomes a hand, click and drag the column to the desired position,

D

How do you switch to Multi-User Mode? A. Choose COMPANY>Setup Users and Passwords > Set Up Users from the menu B. Open the data file from a remote location C. Choose EDIT>PREFERENCES>MULTIUSER from the menu D. Choose FILE>SWITCH TO MULTI-User mode from the Menu

D

How do you track sick or vacation time in Quickbooks? A. When you set up an employee, define how Quickbooks should accrue time B. Set up a sick or vacation wage item C. Pay an employee with a sick or vacation wage item D. All of the above

D

How does entering time for a job affect job cost reports? A. Quickbook adds the cost of that employee's time to the job cost B. Quickbooks add the cost of that employees labor burden to the job cost. C. A and B D. None of the above

D

Suppose you own a company that repairs bicycles. What item type should you use for "Bicycle Repair"? A. Inventory Part B. Non inventory part C. Other Charge D. Service

D

What are other benefits of using items? A. You can track the actual quantity of goods or services you sell B. they can save you time by automatically entering a description and price on forms C. THey allow you to track a lot of detail without cluttering your chart of ACCts D. All of the Above

D

You've been hired by a company that started in 1911. They've never used QuickBooks. During the Advanced/Detailed Setup, what "State Date" should you use in the EasyStep Interview? A. There is no Start Date in the Easy Step Interview B. The date the company bought Quickbooks. C. 1911 D. The date you want to begin tracking the company's Finances in Quickbooks.

D

Which report shows the value of the business assets and liabilities A. The business Evaluation Report B. Quickbooks Tax Return Report C. The Balance sheet D. The statement of cashflows E. The profit and Loss Report F. None of the above

E

What is the purpose of having a single user mode? A. To be the only user logged in an lock out other users B. to be able to do certain transactions and functions that Quickbooks will require you to be in single user mode C. All of the above D. None of the above

c