QuickBooks Online Certification Exam Questions and Answers 2024, Exams of Nursing

Download QuickBooks Online Certification Exam Questions and Answers 2024 and more Exams Nursing in PDF only on Docsity! 1 QuickBooks Online Certification Exam Questions and Answers 2024 Question 5b Which 2 features of QuickBooks Online Advanced aren't available to QuickBooks Online Plus clients?(Select all that apply) • • Unlimited accounts and classes • • Advanced Price rules • • Advanced import and batch entry • • Project tracking Question 6 You are adding a new client subscription through QuickBooks Online Accountant. Which billing option would you choose if you wanted Intuit to bill your client? • • Wholesale billing • • Direct billing • • Direct discount • • Wholesale discount Question 6 Which 2 statements about Wholesale billing in QuickBooks Online are true?(Select all that apply) 2 • • The practice gets billed at wholesale prices for QuickBooks Online subscriptions • • The practice gets billed directly and determines the amount to bill the client • • The client gets billed directly, but the practice determines the price • • The client gets billed directly when they're signed up for a wholesale discount account • The client wi • ll be required to enter their credit card information when they log in to newlt created subscription PreviousNext Question 7 You've just taken on a new client, a small business owner, who was managing their books with spreadsheets. What's the recommended first step to begin working with this client in QuickBooks Online? • • Ask the client to sign up to QuickBooks Online on QuickBooks.com • • Create a QuickBooks Online account for the client and manually email their Intuit ID and password to them • • Select Add client in QuickBooks Online Accountant • 5 • If there are too many accounts active in the Chart of Accounts • • When a client has added more than one of the exact same accounts unnecessarily • 11111 • When the client asks if they can put everything in one account • • If two accounts are being used for the same thing PreviousNext Question 8 When using QuickBooks Online Accountant, Diane Doolittle opens a client's QuickBooks Online company from her Client Dashboard. Where can she see which apps are connected to the client's account without logging out of the account? • • Gear icon > Account and Settings > Billing and Subscriptions • • Client Overview > Company Setup • • Client Overview > Common Issues • • Left Navigation Bar > Apps Question 9 Which 2 statements are true regarding Intuit-approved QuickBooks Online apps?(Select all that apply) • • You or your client can add apps to the client's account 6 • • They must be developed by Intuit • • They must be free of charge • • They must be available via the Apps screen in QuickBooks Online Accountant or apps.com Question 10 Where can you find the QuickStart template in QuickBooks Online Accountant to begin the client onboarding process? • • Your Practice • • Work • • Your Books • • Dashboard =work Question 11 In QuickBooks Online, where do you go to see all a company's categories organized into account types? • • Account and Settings • • Products and Services • • Chart of Accounts 7 • • Recurring Transactions Chart of accounts Question 13 Where do you enable account numbers for the QuickBooks Online Chart of Accounts? • • Gear > Account and Settings > Company > Chart of Accounts > Enable Account Numbers • • Gear > Account and Settings > Advanced > Chart of Accounts > Enable Account Numbers= • • Left Navigation Bar > Accounting > Chart of Accounts > Gear > Enable Account Numbers • • Left Navigation Bar > Accounting > Chart of Accounts > New > Enable Account Numbers Question 14 In QuickBooks Online, the Products and Services list contains the items that will appear on your client's purchase and sales transactions. What must each product/service item be mapped to? • • Product categories list • • Chart of Accounts list • • Recurring Transactions list • 10 • • Gear icon > Import Data Question 4 Which of the following buttons could you use to add a new vendor or find the link to import a vendor list into QuickBooks Online? • • The New Vendor button in the Vendors tab of the Sales screen • • The New Vendor button in the Vendors tab of the Expenses screen • • The New Vendor button in the Expenses tab of the Expenses screen • • The Enter Vendor Details button in the Expenses tab of the Sales screen Question 5 Where should you go to set up a new bank feed or link to a bank account in a client's QuickBooks Online company? • • Expenses Center • • Accounting Center • • Sales Center • • Banking Center 11 Question 6 In QuickBooks Online, what 4 data points do you need to set up sales tax for a client who only does business in their home state? (Select all that apply) • • Their company address • • Whether they have any criminal convictions • • Whether they travel to other countries • • When their last sales tax period started • • How often they have to file a sales tax return • • When they started collecting sales tax for the agency Question 7 Which 4 methods allow clients to process digital payments from customers using QuickBooks Online Payments?(Select all that apply) • • Running a card through a card reader attached to a mobile device • • Entering payments manually as a Receive Payment • • Taking client payment via cryptocurrency • • Entering payments manually as a Sales Receipt 12 • • Entering payments manually as a Credit Memo • • Sending a Sales Receipt to a customer via email • • Taking client payment via the Pay Now button on an emailed Invoice Question 6 Erin previously recorded all of her credit card activity manually using the Expense transaction screen. She then reconciled the account using the Reconcile tool. Now she has connected her credit card in the Banking Center but doesn't see matches for any of the transactions she previously entered and reconciled. What should she do? • • Select the reconciled transactions > Add • • Select the reconciled transactions > Update • • Select the reconciled transactions > Exclude • • Select the reconciled transactions > Delete PreviousNext Question 8 Your client wants to open a new QuickBooks Payments merchant account. From inside QuickBooks Online, where can they go to sign up? • 15 • QuickBooks Online Self-Service Payroll Question 13 Where would you go to find all the lists you can use to fill in forms in QuickBooks Online? • • Gear icon > All Lists • • + New icon > All Lists • • Accounting screen > All Lists • • Reports screen > All Lists Question 14 Which 3 options for customizing invoices can you access via the Custom Form Styles > Invoice template?(Select all that apply) • • Change invoice terms • • Change invoice color schemes • • Change invoice fonts • • Add a logo • • Print on letterhead 16 Question 11 A client is using the Sales on Account workflow. Instead of receiving a payment against the invoice, they add a new deposit categorized to an income account. What 2 problems will this cause?(Select all that apply) • • They will create duplicate expenses • • Their accounts receivable balance will not be accurate • • The income account will show duplicate income • • The income will not be recorded • • Their accounts payable balance will not be accurate PreviousNext SET 3 Question 1 Liz has set up a new employee with Standard user access but has unchecked the Payroll access box. Which part of QuickBooks Online will the new employee not have access to? • • Bank register • • Employees tab • • Contractors tab 17 • • Report Center Question 2 Your client has called for help with their bank feeds in QuickBooks Online. You begin by asking them to open the Banking tab in the Left Navigation bar and your client tells you that she doesn't see this option listed. What could be the reason? • • Your client doesn't have bank feeds enabled • • Your client has Business view selected in their settings • • Your client has turned off the Banking option in their settings • • Your client has the Simple Start subscription for QuickBooks Online • Simple Start subscription for QuickBooks Online Question 3 Which 2 statements are correct about using the client details and dashboard screens of QuickBooks Online Accountant and working with client company files?(Select all that apply) • • Notes will automatically be pinned unless you uncheck the Pin box • • Clients who don't have a QuickBooks Online company can't have their details displayed on the Client List screen of QuickBooks Online Accountant • 20 • • You can't repeat projects, only tasks Question 8 Which statement about creating a client request in QuickBooks Online Accountant is false? • • You can add attachments by selecting the + Add document link • • The request is not sent to the client's email address unless the default setting is changed. • • The request appears in the client's QuickBooks Online company in My Accountant • • If you wish to notify your client of your request with a QuickBooks Online-generated email, select Notify client QUESTION 9 Based on the relationship and agreement with the vendors, what are the 2 vendor workflow options to pay your vendors?(Select all that apply) • • Bill > Pay Bills • • Invoice > Receive Payment > Create Deposit • • Create Purchase Order • • Expense or Check 21 • • Delayed Charge > Pay Bills Question 10 Look at these two sentences about Undeposited Funds: 1. By posting to Undeposited Funds, you can create a single bank deposit for multiple payments, making it easy . 2. When receiving a payment, make sure . Which option correctly fills in these two sentences? • • 1. To match your bank register with your bank statement; 2. the Deposit to account is Checking • • 1. To match your bank register with your bank statement; 2. the Deposit to account is Uncategorized Funds • • 1. To match your expenses with your bank statement; 2. the Deposit to account is Uncategorized asset • • 1. To match your bank register with your bank statement; 2. the Deposit to account is Undeposited Funds Question 11 Lynda is teaching her client proper vendor workflow. What is the correct workflow? • • Purchase Order > Pay bill • • Bill > Print checks • • Bill > Pay bill 22 • • Invoice > Pay bill Question 12 When the Sales Tax feature is enabled in QuickBooks Online, where must you record sales tax payments? • • Create Bill • • Sales Tax Center • • Create Check • • Pay Bills Question 13 What are 2 tools you can use to identify possible issues in a QuickBooks Online company?(Select all that apply) • • Transaction Journal • • Import Data • • Account and Settings • • Audit Log • • Journal Entry 25 • • Open Item • • Transaction Statement • • Client Open Balance Question 4 What are 2 ways to access the vendor credit screen in QuickBooks Online?(Select all that apply) • • Sales Center > New Invoice • • Gear icon > Vendor Credit • • Expenses Center > Import Transactions • • + New button > Vendor Credit • • Expenses Center > New Transaction > Vendor Credit Question 5 When might you use the Bank Deposit Transaction? • • Your client wants to apply a customer payment to an open invoice • • Your client wants to record an SBA loan amount received • 26 • Your client wants to record sales from her upcoming trade show and provide sales receipts • • Your clients wants to refund a customer Question 6 Where can a client identify the instant deposit options for their QuickBooks Payments account? • • Deposits tab • • Account and Settings • • Invoices tab • • Create Invoice screen • • Banking Center Question 7 To set up Instant Desposits, what must be done first? • • Complete an additional application • • Link a debit card to your account • • Enable the feature in Account and Settings • • Open a new "deposit-only" bank account and link it to QuickBooks Online 27 • • Notify your customers Question 7 Payments selected for instant deposits feature may take up to before they can be seen in your bank account. Which option completes this sentence? • • 1 business day • • 30 minutes • • 3 hours • • 1 minute Question 8 Which 3 statements are true about journal entries?(Select all that apply) • • Total debits must equal total credits • • You can post to Products and Services in a journal entry • • When posting to the accounts receivable account, you must specify a vendor • • When posting to the accounts receivable account, you must specify a customer 30 • • + New • • Sales screen • • Banking screen Question 12 One major benefit of using the Bank Feeds feature in QuickBooks Online is that as you or transactions in QuickBooks Online from the downloaded transactions from the bank, they are marked . This makes the end-of- period bank reconciliation more efficient. Which option correctly completes these statements? • • Record, delete, reconciled • • Match, exclude, cleared • • Match, add, cleared • • Exclude, add, reconciled Question 13 Stacy accidentally added a new transaction to her bank register via the bank feed that should have been matched to an existing transaction. Where in the Banking Center should she go to find the transaction and correct the error? • • Gear icon • • • For Review • • Categorized SET 5 Question 1 How can you filter the For Review tab to see all the transactions QuickBooks Online thinks it has found a good match for? • • Select the All transactions drop-down, then Matched • • Select the All transactions drop-down, then Recognized • • Click on the Gear icon, then select Show only matches • • Select the All transactions drop-down, then Included Question 2 You are reviewing your client's bank feed. She has several expense transactions for the local gas station that are correctly categorized. 1. Go to the For Review tab in the Banking Center 2. Select the multiple gas transactions 3. What step completes the process for adding all of these transactions to the bank feed at the same time? • • Select Add • • Select Accept 31 • Filter 32 • • Select Exclude • • Select Update Question 3 What are 3 benefits of adding non-QuickBooks Online clients to your Client List in QuickBooks Online Accountant?(Select all that apply) • • You can keep all client contact info, notes, and documents in one place • • You can access all your ProConnect Tax Online clients from the same dashboard • • You can launch your QuickBooks Desktop client companies directly from the Client Dashboard • • You can create projects and tasks for non-QuickBooks Online clients in the Work tab to stay on top of important client deadlines • • You can share documents stored in QuickBooks Online Accountant with the client Question 3 Laura and Bryce both want to be able to forward receipts to QuickBooks Online to take advantage of the Receipt Capture feature. Where would they go to enable an additional email account for the same QuickBooks Online company? • • Gear > Tools > Manage Receipt Capture emails 35 • • By snapping a picture via a browser • • By uploading a file via a browser • • By texting to receipts@quickbooks.com Question 5 Laura and Bryce both want to be able to forward receipts to QuickBooks Online to take advantage of the Receipt Capture feature. Where would they go to enable an additional email account for the same QuickBooks Online company? • • Gear > Tools > Manage Receipt Capture emails • • Banking > Receipts > Manage Senders • • Banking > Receipts > Manage Receipt Capture emails • • Gear > Account and Settings > Advanced > Manage Senders Question 1 How can you view all downloaded banking transactions for which QuickBooks Online thinks it has found a potential match? • • For review > Filter the Bank Register • • For review > Filter for Recognized transactions 36 • • For review > Filter for Rule applied • • For review > Filter for Matched transactions • • For review > Filter for Transferred transactions Question 2 Which 2 recommendations regarding Bank Feed best practice workflows are correct?(Select all that apply) • • Complete Add transactions first, then move on to Match transactions • • Complete Match transactions first, then move on to Add transactions • • Match downloaded Bank Feed transactions to Invoice Payments, Sales Receipts, or Deposits, but not open invoices • • Match downloaded Bank Feed transactions to Invoice Payments, Sales Receipts, Deposits, or open invoices • • Exclude the downloaded transaction from the For Review tab if QuickBooks Online doesn't immediately find a match Question 3 Which subscription level(s) in QuickBooks Online include the Receipt Capture feature? • • Plus and Advanced 37 • • Advanced only • • Essentials, Plus, and Advanced • • All subscription levels include the Receipt Capture feature Question 4 What are 3 ways to add receipts to QuickBooks Online using the Receipt Capture feature?(Select all that apply) • • Snap a picture via the mobile app • • Forward an email to [yourcustominfo]@qbodocs.com from a registered email address • • Use the Receipt Capture widget in Google Chrome • • Upload via a browser • • Download the Receipt Capture app for Windows Question 5 Mariette would like to add a bill that she just received via email to her QuickBooks Online company. What are the correct steps to add the bill using the Receipt Capture feature? • • Forward the email to [yourcompany]@qbodocs.com > Review > Set Document Type to Bill > Assign payee, payment date, account/category, description, amount, and memo > Select Save and Close 40 How does QuickBooks Online use machine learning in its reconciliation tool to help find any hidden transactions? • • It can identify transactions that were posted to the wrong account • • It can identify transactions where the transaction date is in a future period and the cleared date is in the statement period • • It will recognize if transactions have been excluded erroneously from bank feeds • • It will automatically record bank fees and interest earned Question 9 Which 2 statements are correct regarding reconciling a bank account in QuickBooks Online?(Select all that apply) • • You can only undo a bank reconciliation via a link in Accountant Tools • • hTo successfully reconcile and run a reconciliation report, you need to enter the Statement Ending Date and Ending Balance from the relevant bank statement • • Reconciliations must only be run at period end to estimate tax owed • • To see the Reconciliation report, select View report after you've successfully reconciled the account 41 Question 10 How would you begin setting up a recurring transaction in QuickBooks Online? • • Select Create > Recurring Transactions • • Select the Gear icon > Recurring Transactions • • Select Accountant Tools > Recurring Transactions • • Select the Gear icon > Account and Settings > Advanced > Enable Recurring Transactions Question 12 Which is the best definition of cash-basis reporting? • • Cash-basis reports display income as of the date the customer payment is received/recorded and expenses as of the date a vendor bill is paid • • Cash-basis reports display income and expenses as of the date recorded • • Cash-basis reports display income as of the invoice date, and expenses as of the bill date • • Cash-basis reports display income and expenses as of the invoice date • • Cash-basis reports display income and expenses as of the bill date 42 Question 13 When reviewing a Profit and Loss report in QuickBooks Online, which report option will quickly show a client income and expenses incurred over the past two years? • • Collapse / expand • • Compare another period > Year-to-date (YTD) • • Compare another period > Previous year (PY) • • Group by • • Sort Question 11 Reports can provide valuable insights into which 3 areas?(Select all that apply) • • Financial position of a client's business • • Information about prospective customers • • Results of company operations for a specific time period • • Statistical information about a client's products and services • • Future tax rate changes 45 • Create Bill with account/category detail > Pay Bill Question 3 Kathryn is concerned about her cash flow and wants to know how much she has spent with each of her vendors last month. Which report in QuickBooks Online would provide that information? • • Accounts Payable Aging • • Profit and Loss • • Balance Sheet • • Expenses by Vendor Summary Question 1 Which QuickBooks Online report answers the common business question: "Who owes me money?" • • Accounts Payable Aging report • • Accounts Receivable Aging report • • Sales by Customer Summary report • • Sales by Product/Service Summary report Next 46 Question 1 Which 3 transactions in QuickBooks Online are reflected in the Accounts Payable Aging Detail report?(Select all that apply) • • Bills • • Statements • • Vendor Credits • • Bill Payments • • Purchase Orders Question 1 Which QuickBooks Online report answers the common business question: "Who owes me money?" • • Accounts Payable Aging report • • Accounts Receivable Aging report • • Sales by Customer Summary report • • Sales by Product/Service Summary report Question 2 Which report should you run to list all customers who currently owe balances, and how old those balances are? 47 • • Accounts Payable Aging Summary • • Accounts Receivable Aging Summary • • Balance Sheet • • Trial Balance Question 3 Which report should Alicia run to find out which of her customers generated the most sales last month? • • Accounts Receivable Aging • • Sales by Customer Summary • • Sales by Product/Service Summary • • Accounts Payable Aging Question 2 Which report should you run to list all customers who currently owe balances, and how old those balances are? • • Accounts Payable Aging Summary • 50 • • Uncategorized transactions • • Transactions without payees • • Transactions without accounts • • Transactions with attachments Question 6 What is the last step in the Month-end review workflow? • • Verify financial statements are accurate • • Deal with all the transactions with issues and add additional to-do items • • Make sure all the accounts have been reconciled • • Look for potential issues that need additional documentation PreviousNext Question 6 To keep track of her team, Esther has requested that the status of each task be updated in the Month-end review tabs. What are the 3 status options? • 51 • Open, pending, done • • To do, waiting, complete • • Open, pending, complete • • To do, waiting, done What are 4 status types that can be assigned to an estimate in QuickBooks Online?(Select all that apply) • • New • • Pending • • Accepted • • Deleted • • Closed • • Rejected • • Transferred PreviousNext 52 Question 7 Where would you go to review your client's expense account to see if any transactions had been miscategorized? • • Reclassify Transactions in the Gear menu • • Reclassify Transactions in the Banking Center • • Voided and Deleted transactions in Accountant Tools • • Reclassify Transactions in Accountant Tools Question 8 What are the correct steps to begin the Write off invoices process? • • Accountant Tools > Write off invoices • • Gear icon > Tools > Write off invoices • • Gear icon > Account and Settings > Write off invoices • • + New > Write off invoices Question 8 When should an Accountant user use the Write Off tool? • • When a client has overpaid 55 • • Vehicle type, date placed in service, and total mileage (including business, commuting, and personal) • • Vehicle type, the amount of days driven, and the total mileage (including business, commuting, and personal) Question 12 You have set a closing date with a password. Can your client make changes and if so, how would you track any changes to transactions within the closed period? • • Yes, but only if they know the password. There is no way to track changes • • No. Even if they know the password, they can't change transactions on or before the closing date. Only the accountant can c changes • • Yes, but only if they know the password. Changes are flagged in an Exceptions to Closing Date report • • Yes, they can change transactions even without the password. Changes are flagged in an Exceptions to Closing Date report Question 13 Why might an Accountant user not see the Exceptions to Closing Date report in a QuickBooks Online company? • • A closing date has not been set in the company • • The Accountant user does not have the required permissions to view the report 56 • • The Exceptions to Closing Date report is not available in a Simple Start subscription • • The Audit Log is not enabled r Juick Books Online Certification Exam Questions and | Answers 2024 |