Quickbooks Online Certification: Sample Questions

Sales by Product/Service Summary

One of your e-commerce clients ordered far too many products in the build-up to the holiday season last winter. This left her with too much stock in January and she had to offer discounts in order to reduce the stock. Which report could help your client avoid ordering too much stock?

-In My Accountant in their QuickBooks Online company -Via email, unless you unchecked Notify client

You need your client to send you a copy of a paper receipt so that you can match it to a gas expense in their QuickBooks Online. You create a client request and add a screenshot of the expense entry in QuickBooks Online to help your client identify which receipt they're looking for. Which are 2 places where your client can see this request?

Full access team user and firm primary admin

You want to add an app to your firm's books in QuickBooks Online Accountant. Which 2 levels of account user can add apps?

Reports Center > Management reports tab

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

Calculated mileage, any vehicle changes, that all trips have been reviewed

Your client has been using the QuickBooks Online Mileage Tracker throughout the year. It's nearing year end and you are preparing the log for auto expense deduction. Which 3 of these things should you check for auto expense deductions at year end?

You need to exclude the transaction if it's a duplicate because it'll cause the bank balance and reports to be incorrect

Your client has noticed a duplicate transaction in the bank feed. What advice would you give them?

Credit memos and vendor credits

Your client is confused about which types of transactions will affect the balances that appear on the Profit and Loss and Balance Sheet in QuickBooks Online. Which 2 of these are posting transactions?

Plus

Your client needs a QuickBooks Online solution that includes tracking for: -Sales -Sales tax -Inventory What is the minimum subscription level in QuickBooks Online you would recommend?

On the invoice, start entering the tag name in the Tags field, then select + Add from the pop-up; select the Manage tags link on the invoice, followed by Create tag. Then enter the tag name

Your client wants to add an additional tag to transactions on an invoice. However, the tag isn't on their existing list of tags. Which 2 of the following are ways to create a new tag?

Use the Payment links tab in the Sales Center to send a payment link to the customer

Your client wants to make it quick and easy for customers to make a one-off payment straight from their smartphone. Which sales process would be best suited to this?

A balance of zero

A new client has asked you to review their QuickBooks Online company, which was set up by their previous bookkeeper.You start by looking at the Client Overview screen. If QuickBooks Online was set up correctly, what figure should you expect to see in the Opening balance equity account balance?

5

For clients with a QuickBooks Online Plus account, what's the maximum number of billable users?

-When the client receives funds from loan proceeds or contributions of cash from owners -When the client receives a refund from a vendor and wants to record it directly against the expense account or to a Refunds Received Income account -When the client doesn't record income using sales transactions (invoices or sales receipts) and wants to record deposits directly to income accounts -When the client receives money from an employee to pay down a loan owed to the company

In which 4 of these situations would you use a Deposit transaction?

Header/Footer

In which section of the Customize report drawer can you add the date and time the report was prepared?

The customer's sales tax status and the tax category for the product or service

When you set up your client's sales tax in QuickBooks Online, you've already recorded their physical address, the tax agency they pay sales tax to, and their reporting interval. What additional 2 pieces of information are used to calculate sales tax on an invoice?

Taxes Center > Sales tax > Sales tax settings

Where would you go in QuickBooks Online to make a sales tax agency inactive?

-Payments categorized to the wrong account -Payments being recorded as an expense on the Balance Sheet

Which 2 of these common issues does the Pay down credit card feature help to resolve?

Account names can be edited, and deactivated accounts can be reactivated

Which 2 of these statements about setting up and editing a chart of accounts are correct?

-Reconcile all bank and credit card accounts -Substantiate all balance sheet accounts -Review Profit and Loss accounts

Which 3 of these steps should you complete before you close a client's books?

Vendor credits post as a debit to decrease accounts payable

Which of these statements about Vendor credits in QuickBooks Online is true?

For review

Which tab in QuickBooks Online Banking shows the bank data that has not yet been accepted into QuickBooks Online?

-To change the class and/or location for invoices, sales receipts, checks, or bills with items (products or services) on them -To change the account or class for inventory adjustments

While preparing your client's books for year end, you find some transactions that may not have been appropriately recorded. In which 2 of these cases could you use the reclassify transactions tool?

Do they do business in more than one state? What agencies do they need to pay their sales tax to? What is their filing frequency?

You are onboarding a new client in QuickBooks Online. Which 3 questions should you ask your client to help you set up their sales tax correctly?

Bundle

You need to add a gift basket with a collection of beauty products to your client's list of Products and Services. Which item type would you assign this to in QuickBooks Online?