Question

In: Accounting

When setting up a new Team member (member of your firm) in QuickBooks Online Accountant, you...

When setting up a new Team member (member of your firm) in QuickBooks Online Accountant, you can assign which of the following user permissions to the new Team member.

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Accounts receivable

Accounts payable

Accounts receivable, Accounts payable and Reporting

Payroll

You cannot assign user permissions to Team members. The Accountant Team member setup includes unlimited access

To import a chart of accounts for your client which set of steps listed below would you follow:

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Go to the Home Page > click import Chart of Accounts

Right click on the Chart of Accounts > click import Chart of Accounts

Click the Gear Icon > Import Data > choose Chart of Accounts

None of the above. You cannot import the Chart of Accounts.

Which of these sales-related transactions are non-posting transaction?

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Invoice

Estimates

Sales Receipt

Delayed Charges

Which of the following navigation options in QuickBooks Online is BEST used to enter day-to-day transactions in QuickBooks Online?

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Gear icon/Company menu

Navigation Bar

Create Menu +

Transactions

All of the above

To setup QuickBooks Online to automatically enter transactions you'll choose which of the following?

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Make recurring

Memorize

Automatically Enter

Schedule

The QuickBooks mobile app can do which of the following functions? Choose all that apply?

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Reconcile bank accounts

File Sales Tax

Email invoices

Categorize bank feed items

All of the above

QuickBooks Online lets you add more than one A/P or A/R account on the same general journal entry?

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True

False

Which of the following processes would merge two accounts together in the chart of accounts?

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Deactivate the old account

Click Gear > Chart of Accounts > Merge Accounts

Edit one account and name it exactly as the other

Add a new account and reclassify all transaction to the new account

To ensure that your clients are tracking sales tax on each sale and purchase in QuickBooks, you should add a tax rate to which of the following in QuickBooks Online? Select all that apply.

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Products and Services

Customers

Suppliers

Expense accounts

None of the above

How can you easily toggle to another client's QuickBooks Online File?

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Click Home > Connect to another account

Click Accountant Toolbox > Change Client

Click on Client Name drop down menu > Choose Client

Click Create (+) > Choose Client

What is the purpose of the Expense transaction type?

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To report on all expenses

To create non-posting transactions

To enter different expense type of transactions like debit, interac, etc.

To enter accounts payable transactions

If your client wants to pay multiple bills at one time, you go to:

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Expenses > New Transaction > Bill

Create menu (+) > Pay Bills

Expenses > Select Bills > Pay Bills

Click Gear Icon > Manage Accounts Payable

Your client needs to enable some additional features for their company in QuickBooks Online. How do you find the Company Settings in QuickBooks to make changes?

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There is no Company Settings page, but there is a Company Preferences button that can be reached from the home page

Click the Create menu at the top of the window and choose Company Settings

Click the Company tab on the left side of the QuickBooks window and click Company Settings

Click the Gear icon and click Account and Settings

Which of the following steps are used to add or remove columns?

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Right click the column header and click 'Delete'

Choose a report to edit > Click the Customize button and click 'Rows/Columns'

Click the 'Customize' button and click 'Add/Remove Columns'

Use the column width drag feature to remove the column from the report

When creating a new QuickBooks Online account, what company information does QuickBooks ask for? Select all that apply.

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The Name of the Company

The birth date of the owner

How long the company has been in business for

A list of company employees

Which versions of QuickBooks Online feature the ability to enter, track and pay bills?

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QuickBooks Online Plus only

QuickBooks Online Accountant only

QuickBooks Online Essentials and Plus

All versions of QuickBooks Online

You need to find an expense, but all you know is the amount (you can’t remember the date or supplier). What’s the best way to do this?

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Open the Audit log and go through the transactions until you find the correct one

Press Ctrl+F to search for the expense

Open a new expense form and press the previous button until you locate the expense

Click the magnifying glass icon, and search for the exact amount

If you DON’T download bank transactions, how do you enter a business lunch paid for with the company debit card?

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Click the Create button and select Expense. Fill out the expense and use Debit Card as the payment method

Click the Create button and click Bill. Enter a bill for the meal. Then click the Create button again and select Pay Bills. Now enter the payment of the bill for lunch

Click the Create button and click Debit Card. Fill out the debit card charge and save the transaction

Click the Create button and select Cheque. Fill out the expense and save the transaction.

Your client printed a cheque from QuickBooks. Before they can send it to the supplier, they spill coffee on it, ruining the cheque. How do you handle this?

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Delete the cheque

Void the cheque

Issue another cheque from QuickBooks with the same cheque number

Change the amount of the cheque to zero

Your company would like to sell their products online. They ask you to look for an app that makes it easy for customers to buy online. However, they also want you to be efficient. They do NOT want you to have to manually enter these sales into QuickBooks. They want the sales to automatically update QuickBooks. What’s a good place to start looking for an app that can do this?

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iTunes, Android Market, or Google Play

The Apps tab in QuickBooks

Click the Gear icon and select the “Find Integrated Apps” box

QuickBooks does not integrate with other software. This isn’t possible.

Select the statement that’s NOT true about using the QuickBooks app on a mobile device.

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There is a QuickBooks app for Android and Apple (IOS) devices

You can do everything (all QuickBooks functionality) on the app that you can do in your regular QuickBooks (using a browser)

The mobile app uses built in functionality of your device (e.g. the camera to take pictures of receipts or other documents to attach to transactions)

The mobile app is free

Which of the following features are exclusively offered in QuickBooks Online Plus? Choose all that apply.

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Budgeting

Inventory

Bank feeds

Class tracking

All of the above

Solutions

Expert Solution

  1. You cannot assign user permissions to Team members. The Accountant Team member setup includes unlimited access
  2. Go to the Home Page > click import Chart of Accounts
  3. Estimates
  4. Create Menu +
  5. Make recurring
  6. All of the above
  7. False
  8. Click Gear > Chart of Accounts > Merge Accounts
  9. Products and Services

    Customers

    Suppliers

  10. Click Accountant Toolbox > Change Client

  11. To report on all expenses

  12. Expenses > Select Bills > Pay Bills

  13. Click the Gear icon and click Account and Settings

  14. Choose a report to edit > Click the Customize button and click 'Rows/Columns'

  15. The Name of the Company , How long the company has been in business for

  16. QuickBooks Online Essentials and Plus

  17. Click the magnifying glass icon, and search for the exact amount

  18. Click the Create button and select Expense. Fill out the expense and use Debit Card as the payment method

  19. Change the amount of the cheque to zero

  20. Click the Gear icon and select the “Find Integrated Apps” box

  21. You can do everything (all QuickBooks functionality) on the app that you can do in your regular QuickBooks (using a browser)

  22. All of the above


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