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Question 1 of 15 Which of the following is not a recommended starting point to enter...

Question 1 of 15

Which of the following is not a recommended starting point to enter sales of products/services?

A. Quick Create > Invoice

B. Register > New transaction

C. Quick Create > Sales Receipt

D. Customer detail page > New transaction

E. Transactions > Sales > New transaction

Question 2 of 15

Which of the following statements accurately describes bank rules?

A. Bank rules are imported from the Bank's website into the For Review tab in the Banking Center

B. Bank rules are company settings used to restrict certain users from accessing the banking transactions

C. Bank rules allow users to specify the frequency that QuickBooks Online downloads transactions from the bank

D. Bank rules are set up by users to allow QuickBooks Online to populate downloaded transaction fields with specified information

E. Bank rules are set by QuickBooks Online to automatically match downloaded transactions to manually entered transactions in the register

Question 3 of 15

Doug’s Diner has a handful of bills that are the same each month which they pay via ACH auto pay. They want to save time entering these transactions by utilizing the Recurring Transactions feature in QuickBooks Online - but still want to view the upcoming expenses in their financial reports. What is the best way to set up the recurring transactions?

A. Set up each bill as an Expense and make recurring

B. Set up each Bill and Bill Payment as recurring transactions

C. Enter the each Bill manually, then set up each Bill Payment as a recurring transaction

D. Set up Rules in the Bank Feed center to automatically map the payments as they clear the bank

E. Set up each Bill as a recurring transaction, then match the payments to the bills in the Bank Feeds center as they clear.

Question 4 of 15

Gregg has given you his bank statement for last month and you need to reconcile his account. Which of the following are the steps you need to take?

A. Accountant Toolbox > Reconcile > Reconcile Now > Enter Adjustment

B. Gear Icon > Reconcile > Enter statement date/beginning balance > Reconcile Now > Enter Adjustment

C. Accountant Toolbox > Reconcile > Enter statement date/ending balance > Select All > Reconcile Now > Enter Adjustment

D. Gear Icon > Reconcile > Uncheck All > Check off transactions that match statement > Reconcile Now > Enter Adjustment

E. Gear Icon > Reconcile > Enter statement date/ending balance > Check all transactions that match bank statement > Ensure difference is zero > Reconcile Now

Question 5 of 15

Christine’s Cuisine just made the switch from QuickBooks Desktop to QuickBooks Online. The banking transactions were downloaded and posted in the desktop file up until 20 days ago. When connecting the bank feed in QuickBooks Online, what is the best way to get the transactions for the last 20 days into the file?

A. When setting up the sync, choose the custom option to only download the last 20 days of data

B. When setting up the sync, do not download any prior transactions. Then, manually enter the last 20 days of data

C. When setting up the sync, choose the custom option to only download the last 7 days of data. Then manually enter the remaining 13 days of transactions

D. When setting up the sync, choose the custom option to download the last 30 days of data. Then use the batch exclude option to remove the duplicate downloads

E. When setting up the sync, do not download any prior transactions. Then download and import an IIF file from the bank website to enter the last 20 days of transactions

Question 6 of 15

If a user clicks Finish Now when reconciling an account and the Difference is not zero, what account is used to offset the automatic adjustment to the account being reconciled?

A. Bank Service Charges

B. Miscellaneous Expense

C. Opening Balance Equity

D. Bank Reconcilation Error

E. Reconciliation Discrepancies

Question 7 of 15

Which of the following report settings are browser settings, not QuickBooks Online settings?

A. Fit to Page

B. Column size

C. Text font/color

D. Send report as HTML when emailing

E. Header/Footer text and alignment when printing

Question 8 of 15

Josh and Kaleb are partners in their consulting business. They have selected a third party app that works with QuickBooks Online so that you can help manage their bookkeeping outside of their operational management system. Kaleb is the only person who needs to be able to enter transactions, but Josh needs to be able to run reports and enter billable time - as he is always meeting with investors and customers. Kaleb is concerned that if Josh has access to QuickBooks Online, he will accidentally mess something up. Which subscription level of QuickBooks Online would be the best fit for their needs?

A. QuickBooks Online Plus

B. QuickBooks Online Essentials

C. QuickBooks Online Simple Start

D. QuickBooks Online Self-Employed

E. QuickBooks Online Simple Start + third party apps for time and reporting

Question 9 of 15

Which of the following is NOT true about grouping reports in QuickBooks Online?

A. A customized report can be part of multiple Groups

B. Grouped reports can be found in My Custom Reports

C. You can consolidate multiple reports into a single PDF document

D. Grouping allows you to schedule reports to be automatically emailed

E. You can batch print multiple reports by double clicking on the Group heading

Question 10 of 15

How can you export a report to Excel?

A. Click on the piece of paper icon and choose Export to Excel

B. Click on the gear icon on the report and choose Export to Excel

C. Click on the Customize icon and on the Export tab, choose Excel

D. Right click on the report in the Reports Center and choose Export to Excel

E. If you click on the envelope or printer, it will bring up the screen to save, email, print or export

Question 11 of 15

Which of the following is something you can't do with Management Reports?

A. Export as a Word document

B. Name the title of the report

C. Customize and add new reports

D. Add additional preliminary pages

E. Create your own template from scratch

Question 12 of 15

Which of the following best describes an Intuit approved app?

A. An app that is listed on Apps.com

B. An app that integrates with QuickBooks Online

C. An app with the Intuit Certified or Intuit Approved badge on its website

D. Apps listed on Apps.com with the green ProAdvisor Recommended badge

E. An app that integrates with both QuickBooks Online and QuickBooks Desktop

Question 13 of 15

Which of the following is the best way to purchase and access an app that you are integrating with QuickBooks Online?

A. Sign up for a syncing app where you can connect all of your apps and QuickBooks Online companies to each other

B. Logged in to the QuickBooks Online company as an Admin user, go to App Center, find app, and click Get App Now

C. From the App developer website, sign up and enter your Intuit ID to choose the company you want to add the app to

D. Contact the App vendor and give them the QuickBooks Online company ID for the company that you want to connect the app to

E. From the App Center in QuickBooks Online Accountant, click Get App Now from the App card and use the master admin Intuit ID for the company you are adding the app too

Question 14 of 15

Which is NOT a recommended best practice when finding Apps?

A. Start a trial subscription

B. Request a demo from the developer

C. Read reviews about the app on the App Center

D. Ask another ProAdvisor about their experience with the app

E. Connect the app to the live QuickBooks company to see if it works the way you expect

Question 15 of 15

Which is NOT a stated benefit of using Intuit-approved apps?

A. Reduce Data Entry

B. Additional Functionality

C. To make QuickBooks faster

D. Security/Separation of duties

E. Streamline Workflow Processes

Homework Answers

Answer #1

answer is option C. Quick Create > Sales Receipt

A sales receipt is a document that provides customers with a detailed description of the products or services that they have purchased. If a payment is received from a customer at the time of sale, then it is advisable to  create a sales receipt in QuickBooks to record both the sale and payment. But inthe business mostly sales transactions are on credit initially thus it recommended not to create sales receipt initially. therefore, other than Quick Create > Sales Receipt all are recommended to to enter sales of products/services.

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