QuickBooks Test 1

What lists can be imported from Excel spreadsheets, when setting up a Quickbooks Online company?

• Location, Classes Products and Services and Vendors

• Chart of Accounts, Customers, Reports, and Recurring Transactions

• Chart of Accounts, Customers, Products and Services and Vendors

• Transactions, Billable Expenses, Reports, and Chart of Accounts

Which of the following is True regarding your chart of accounts, when setting up a new QuickBooks company?

• QuickBooks does not create a chart of accounts for you. This must be done manually.

• It is possible to add more accounts after starting a new company

• New accounts can only be added during the new company startup process

• Only income and expense accounts can be added after starting a new company

What company information does QuickBooks ask for when you first create a new QuickBooks Online account?

• The date the company began operating

• The birth date of the owner

• The industry of the business

• A list of company employees

Where is the Company Settings page found in QuickBooks Online?

• Click the Company Settings icon on the home page

• Click the Global Create menu at the top of the screen and select Your Company

• Click the company tab on the left side of the screen and select Company Settings

• Click the Company Menu at the top right and select Company Settings

What can you do to filter the home page so that it does not display sensitive financial information?

• Go to the Manage Users screen and set a user to view the screen in "Private Mode"

• Navigate to the Reports Center and change the reports that are displayed on the home page

• Go to the Company Menu and turn on "Private Mode"

• Turn on "Private Mode" from the home page

Which of the following is True regarding General Journal Entries?

• General Journal Entries require a good understanding of debits and credits and a great deal of care should be taken by non-accountants when entering them

• Enter a General Journal Entry when you are not sure which form to use

• General Journal Entries should NOT be used during year-end adjustments

• General Journal Entries should NOT be used to enter depreciation

Which of the following statements about users is TRUE?

• You can add as many users as you want, buy only can use QuickBooks at a time

• Users must share a single login to the company file

• In addition to Regular or Custom users, you can also set up Reports only and Time Tracking only users

• An Accountant User counts towards your user license limit

When importing information from QuickBooks Desktop and Quickbooks Online you:

• Can choose which transactions you want to import

• Have to import everything, and anything that is in your QuickBooks Online company during the import will be overwritten

• Can only import your Customers, Vendors and Employees. No transactions are imported

• Can NOT access your QuickBooks Desktop company file anymore.

Which of the following is TRUE regarding merging entries in lists?

• You can merge a customer and a vendor

• You can merge items and expenses

• You can merge an income account with another transaction account

• You can merge classes and locations

You just bought something form one of your customers and want to set them up as a vendor. What steps would you take to do that?

• Right click the name on the Customers List and select Vendor Too.

• Open the Customers list, select the customer and click Edit. Check the "Is Also Vendor" box to make them both a vendor and a customer

• You cannot buy things from customers in QuickBooks Online

• Open the Vendors list and create a new vendor. In the Display Name As field, enter the customer's name, but add something else to the name to make it unique.