Quickbooks online, what is the difference between voiding and deleting a check?
D. Voiding a check keeps it in reports but reduces its value to
... [Show More] zero
Deleting a check removes it from reports other than the Audit Log.
Which three tasks can you perform when using Bank Feeds in the Banking area? (Choose 3)
A. Issue a Stop Payment request for a check
B. Match transactions entered in Quickbooks to the bank information as they clear the bank.
D. Unreconcile a previously cleared transaction
Move each financial report from the list on the left to the correct description on the right.
1) Show assets, liabilities, and equity at one 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) Profit and loss statement
3) Profit and loss statement
4) Balance sheet
For each statement about managing unbilled expenses in Quickbooks Online, select True or False.
1) The unbilled costs by job report displays the unbilled expenses
2) If you clear the billable check box for a cost, it is no longer a business expense.
3) You can change the billable status of a cost by selecting or clearing the Billable check box on the check.
1) True
2) False
3) True
For each aspect of a report, select YES is you can customize that aspect or No if you cannot.
1) The data range
2) The accounting
3) The way numbers are formatted
1) Yes
2) Yes
3) No
For each statement about Quickbooks Online Plus, select True or False
1) Quickbooks Online Plus provides inventory tracking
2) Quickbooks Online Plus allows up to 5 user license
3) Quickbooks Online Plus provides project profitability tracking.
4) Quickbooks Online Plus includes Payroll support at no additional cost.
1) True
2) True
3) True
4) False
For each statement about the Cash Flow Statement, select True or False
1) if shows a business's assets, liabilities, and equity
2) It summarizes the cash flowing in and out of a business
3) It is divided intro three sections: Operations, Investments, and Financing
4) It is another name for an income statement for companies that use accrual accounting
1) False
2) True
3) True
4) False
Which list can you import into Quickbooks Online Plus from the import Data screen?
C. Products and Services
What are three recurring transaction types in Quickbooks Online? (Choose 3)
B) Reminder
C) Scheduled
E) Unscheduled
For which two reasons should you connect your online bank accounts to Quickbooks Online? (Choose 2)
A. To ensure that your data remains secure
B. To help prevent data entry errors
You need to record a new transaction from a sales receipt
In which order should you perform the actions?
1) Match the the receipt
2) Select the receipt to make corrections or add missing inforamation
3) Upload an image of the receipt to Quickbooks Online
4) Create a new expense
3
1
4
2
What is a reason for setting up products or services in Quickbooks Online?
B) To automatically message customers when items are in stock.
You want to pass on some of your costs directly to customers in QuickBooks 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.
What are the four types of products and services that can appear on QuickBooks sales form?
D. Bundle, Inventory, Non-inventory, and Service
What does the audit log display?
D. Transactions that affect your company file, including the time and associated user.
Which two statements describe the difference between recording expenses on checks and as credit card expenses? (Choose 2)
B. A check debits the expense account and credits Accounts Payable
C. A check debits the expense account and credits the bank
For each statement about the risks and benefits of extending functionally through apps, select True or False
1) Your QuickBooks Online account includes free use of all App Store apps.
2) The QuickBooks App Store is available directly from QuickBooks Online Plus
3) Apps that are not fully compliant with intuit requirements will not connect to or sync with your QuickBooks Online company account.
1) True
2) False
3) True
You pay a bill by using a check. You record that transaction in QuickBooks Online. The check is damaged before the vendor can deposit it. You write a new check What should you do with the original check in QuickBooks Online?
B) Void the check.
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 Customers 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 terms.
1) True
2) False
3) True
You need to determine which vendors charge the most for the goods and services they provide to your company. Which report should you run?
A) Expenses by Vendor
You are creating a new customer record
The customer wants to receive their products at the following address:
The customer has a credit card that is connected to the following address:
123 Main street Seattle, WA 12345- Shipping Address
456 Elm street Dallas, TX 54321- Billing address
For each statement about QuickBooks Payments in QuickBooks Online, select True or False
1) Quickbooks payment allows you to accept payments directly from customers
2) Quickbooks payment accepts credit cards, debit cards,cash, checks, and ACH bank transfers.
3)Transaction fees for using Quickbooks payments are changed on a seperate monthly invoice from Intuit.
1) True
2) True
3) False
You own a retail clothing store. You order three dozen shirts from a vendor. Two of the shirts arrive with obvious manufacturing errors. You contact the vendor, who offers you a credit.
In quickbooks online, what is the effect of the vendor credit?
D) Credit the cost of damaged shirts to the Vendor Credits and Refunds income account.
For each statement about merging vendor accounts, select True or False.
1) After two vendors are merged, the action cannot be undone.
2) To begin merging two vendors, edit the vendor record you want to keep
3) To merge one vendor record with another, change the Company Name or the First and Last names to match the other vendor,
1) True
2) False
3) True
An existing vendor decides to purchase products from your company in Quickbooks online, you set up a customer account for the vendor. For each account field, select Yes if the vendor and customer account entries must be unique or No if they can be identical.
1) First name
2) Last name
3) Display name
4) Company name
1) No
2) No
3) Yes
4) Yes
On your banks website, you transfer $5000 from your savings account to your checking account to pay bills. You are processing bank feed transactions. You need to record this transaction properly. Match the two actions you should perform?
B) Match the savings account transaction to the checking account transaction
C) Mark the checking account transaction as a transfer.
Complete the sentences by selecting the correct option from each drop down list.
1) A transaction erases it completly from your books
2) An invoice does NOT alter any payment if 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 [Show Less]