QuickBooks Online Exam Review

During the process of building an invoice, a custom field named Special Message is added. Where will that custom field be available once the invoice has been generated?

• On every form

• On every invoice

• On every sales form

• On just that invoice

Where is the location in which one can turn on location and class tracking?

• Settings - Account and Settings - Advanced

• Settings - Account and Settings - Tracking

• Settings - Class and Location

• Settings - Tracking

What does an IT manager need to do with QuickBooks Online?

• Back up the data

• Manage users

• Run patches

• Run updates

What is the major disadvantage of using a journal entry to record a sale?

• No way to indicate amount

• No way to indicate customer

• No way to indicate the item sold

• No way to manage the inventory properly

Which account should be used to hold funds until they are deposited in an checking account?

• Bank deposit

• Deposit on hold

• Pending deposit

• Undeposited funds

Where can billable expenses be set up?

• Create - Billable Expenses

• Create - Expense Tracking

• Settings - Account and Settings - Expenses

• Settings - Account and Settings - Advanced

A customer makes a purchase to be paid at a later date. Which form should be used for this transaction?

• Estimate

• Invoice

• Purchase Order

• Sales Receipt

Which best defines a vendor?

• Any company to which one pays money

• Any entity from which one purchases goods

• Any entity to which one pays money

• Any individual to which one pays money

Which vendor report shows what is owed to each vendor?

• Owed Bills

• Owed Vendors

• Unpaid Bills

• Unpaid Vendors

Which is true about purchase orders?

• They affect a checking account balance

• They affect an expense account

• They are always used for billable items

• They do not affect a vendor balance