Move each answer financial report from the list on the left to the correct description on the right.
1) Shows assets, liabilities, and equity at one
... [Show More] point in time
2) Used to understand changes in revenues and expenditures
3) Shows income, expenses, and net income during a specific time period
4) Provides information about the current financial health of a business
1) Balance sheet
2) Balance sheet
3) Profit & loss
4) Profit & loss
You want to pass on some of your costs directly to customers in Quicbooks Online. You are able to assign a customer to a cost, but you cannot mark it as billable. You need to make costs billable in Quickbooks Online. What should you do?
C) In the account and settings area, on the Expenses tab, toggle on Make expenses and items billable.
You are sending an invoice to a customer. You need to set up the payment terms. What does a payment term of "Net 15" mean?
A) The customer must pay the invoice in full within 15 days of the invoice date.
Which lists can you import into Quickbooks Online Plus from the import Data screen?
A) Products and services
1) Quickbooks Payments allows you to accept payments directly from customers.
2) Quickbooks Paymentts accepts credit cards, debit cards, cash, checks, and ACH bank transfers.
3) Transaction fees for using Quickbooks Payments are changed on a separate monthly invoice from Intuit.
1) True
2) True
3) False
For each statement about setting up payment terms for a new customer in Quickbooks Online, select True or False.
1) You can create new payment terms from the New Customer form.
2) You must specify payment terms when setting up a new customer
3) If you do not select payment terms for a customer, Quickbooks Online assigns the default invoice term.
1) True
2) False
3) True
Which two statements describe the difference between recording expenses on checks and as credit card expenses? (Choose 2)
A) A check debits the expense account and credits the bank
C) A check debits the expense account and credits Accounts Payable
You are customizing a Profit and Loss report.
You need to display two data ranges side by side
Which setting should you configure? Select the correct setting in the answer area.
Select Compare another period box
In Quickbooks Online, what is the difference between voiding and deleting a check?
A) Voiding a check keeps it in records but reduces its value to zero.
Deleting a check removes it from reports other than the Audit Log.
Which two methods can you use to upload a receipt to Quickbooks Online? (Check 2)
B) Upload an image directly from your Google Drive
C) Email an image directly to Quickbooks Online
Complete the sentences by selecting the correct option from each drop-down list.
1) A transaction erases it completely from your books
2) An invoice does NOT alter any payment you've recorded for that invoice.
3) A transaction does NOT affect your account balance, and you keep a record of that transaction.
1) Deleting
2) Voiding
3) Voiding
Move each feature or foot from the list on the left to its purpose on the right.
1) Track job cost and income
2) Track transactions by city or region
3) Track transactions by departments in a company
1) Projects
2) Locations
3) Classes
You need to connect financial accounts to Quickbooks Online
For each type, select YES if Quickbooks Online can connect to that type of financial account or NO if it cannot.
1) A money market account
2) A business savings account
3) A personal credit card account
1) Yes
2) Yes
3) Yes
Which statement describes 1099 workers?
D) 1099 workers define for themselves when, how, and where they work.
You want to reduce the amount your loyal customers owe you on each invoice by 10 percent.
Which feature should you use?
B) Discounts
Do company names have to be unique
YES
For which two reasons should you set up the services and products you sell in Quickbooks Online? (Choose 2)
B) So you can track sales by product and service
C) So you can add each product and service to invoices, sales, receipts, expenses, and other sales forms. [Show Less]