Proceeds generated from the sale of your product or business.

Everything a business owns.

Money owed to others.

Everything the business has in its possession.

Money spent to run the day to day business operations.

True

False

True

False

main menu

banking

company

Telephone

File

Icon

Which fields appear on the screen when someone creates an invoice

Adding your company’s unique logo

The amount of information (number of characters you can type in each field)

Which fields appear on the printed invoice

To prepare the books for an accounting firm’s audit

Track any changes and deletions, as well as track which user makes the change or deletion

Track attempts to a restricted area

To help you perform a year-end audit

Invoices

Bills

Checks

Bill Payment

Click the File menu and select Version Information

Click the Help menu and select About QuickBooks

Press the F2 key

Press the F1 key

A/P Aging Summary

Sales Tax Liability

1099 Detail

Sales Tax Revenue Summary

Click the Customize Report button. Then click Hide Subaccounts and click OK

Click the Collapse button

Click the Hide Detail button

Click the Hide Subaccounts button

Delete the customer’s payment from the deposit

Call the customer and ask them to send another check

Charge your customer a bounced check fee

Click Record Bounces Check in the same Receive Payment window you used to receive the customer’s original payment

Enter Bills, Write Checks

Enter Bills, Pay Bills

File Bills, Pay Bills

Pay Bills, Print Checks

Click the Process Multiple Reports icon on the Home page

Click the Reports menu and then select Process Multiple Reports

Click the File menu and select Print Reports > Multiple Reports

Click the Report Center icon. Then click the Process Multiple Reports button.

QB advises if you need to create paychecks or regular checks for 1099 subcontractors

Your first payroll is completed

QB has an accurate record of employees, earning, deductions, and payroll history, and you are ready to create your first paycheck

A payroll service option is selected and you are ready to set up employees and taxes

Divide $55,000 by the number of pay periods (example: monthly) and manually enter this amount in the Payroll Info tab

Divide $55,000 by the number of hours in a work week and enter that amount in the Payroll Info tab (so you can enter hours for the employee)

Divide $55,000 by the number of pay periods (example: monthly) and manually enter this amount on each paycheck

In the New Employees window, enter a salary of $55,000 in the Payroll Info window

Enterprise Solutions only

QuickBooks does not support multiple users

Premium and higher

All versions support multiple users

QuickBooks Print Engine Editor

Financial Statement Designer

Customer Form Designer

Layout Designer

Trial balance opening balances

Company name and address

Checking account statement balance

Chart of Accounts

Edit the unwanted entry. Click the Merge to button. Then select the appropriate name to merge into. Then click OK

Click the Company menu and select Merge Names. Then select the two names to merge from the appropriate lists. Then click Merge

Merging list entries is not possible. You can only delete unwanted entries

Edit the unwanted entry. Change the name to match the name you want to merge into. Click OK. Then click YES when prompted to merge the names

On the paycheck, reduce the gross wages by the amount you’ve been asked to deduct

Setup and use the Deduction Type Payroll item, and be sure the item is linked to the appropriate liability account

On the paycheck, click the expense tab and enter the amount of child support as a negative

On the paycheck, click the Expenses tab and enter the amount of child support as a positive.

For accountants to correct errors

For year-end adjustments

To enter depreciation

To avoid using the build-in forms (ie: checks and invoices)

The Profit & Loss was run on the Item Profitability instead of the Job Profitability basis

The Profit & Loss was run on the Fund basis instead of the Class basis

The Profit & Loss was run on the Accrual Basis instead of the Cash Basis

This is not possible. If there is a profit, there will be money in the bank

Do not use items when invoicing the customer. Instead, just type the description and price in the notes area

Click the Remove After Use button in the New Item window

Click the One-Time Use button in the New Item window

Set up a generic item and edit the description price each time

Set a Closing Date and password in the Accounting Preferences or from the Company menu

Click the Close Financial Year icon on the home page and enter the end of your fiscal year

Complete the Close the Books wizard

In the Company Information window, select the First month in your fiscal year

Select the payments you want to make from the Pay Taxes & Other Liabilities list in the Payroll Center. Then click View/Pay

Drag and drop liabilities to the payment calendars

Click Write Checks (or use the check register), enter the amount, and then select Payroll Liabilities as the account in the Expenses tab

Click Write Checks (or use the check register), enter the amount,

and then select Payroll Items you are paying in the Items tab

The account QB uses to group customer payments together, before you record a deposit

An account used to record checks you wrote that have not been deposited by your vendors yet

An account used to remove “bounced checks” from the checking account

An account used to record unpaid invoices

Open the original report and click Export. Click the Advanced tab and select Import last exported report

Use the Import from Excel wizard in QuickBooks

From the menu, select Reports > “original report name” > Import from Excel

You can’t import changes in Excel back to QuickBooks

Click the Format menu and select Column > Width. Then enter an appropriate amount and click OK

Click on the three dots to the right of the column and drag it to the right

Click the Customize Report button. Then click the Display tab. Then enter an appropriate column width next to the column name

Right-click on the column and select Column Width. Then enter an appropriate amount and click OK

Select Edit: Preferences from the menu

Select Company: My Company from the menu

Select File: Open Company from the menu

Select File: Easy Step Interview from the menu

Only the Administrator is allowed in the file while it’s in single-user mode

To use QuickBooks in multi-user mode, each user must have the same version of QuickBooks on the computer to access the same company file

You can have a maximum of 3 users at the same time in multi-user mode

To use QuickBooks in multi-user mode, the Administrator and other users can have different versions of QuickBooks.

Click the Edit menu and then select Delete All Transactions

Create a new company and select Copy Settings from Another Company in the Easy Step Interview

Click the File menu and select Utilities > Condense Data from the menu. Then choose the All Transactions option

You can’t do that in QB

Employees

Other Names

Vendors

Subcontractors/1099

Delete reports from QuickBooks

Add reports to QuickBooks

Start the Client Data Review

Run most reports in QuickBooks

Balance Sheet

Chart of Accounts Summary

Depreciation Statement

Cash Flow Forecast

Click Help and search for the invoice by date

Click Help and search for the invoice by number

Open an invoice and click the Find button

Click the Previous button until you find the invoice

Non-Inventory Part

Inventory Part

Service

Other Charge

Invoice

Check

Purchase Order

All of the Above

All sales entered with accrual journal entries

Only sales for which you have been paid

All sales, whether or not you’ve received customer payments

All sales except statement charges

The value of the sale flows to the income account you selected when you set up the item

When you set up an item, you select Balance Sheet or Profit & Loss from the Assign drop-down list

When you set up a non-inventory items, QuickBooks assigns the current on-hand quantity to the Profit & Loss

Items does not affect the Financial Statements

The entry has not been used in the current year

List entries can never be deleted

It has no balance, it has not been used, and is not linked to anything that has been used

You enter a valid security password

In the Pay Bills window, select Refunds & Credits

Click Refunds & Credits on the home page

Enter a Journal Entry

Click the Enter Bills and then click Credit on the top of the bill

This is the difference between fund and class reporting.

This is the difference between accounts receivable and accounts payable reporting.

This is the difference between item profitability reporting and job profitability reporting.

This is the difference between cash and accrual reporting.

Sales Tax Revenue Summary

1099 Detail

Sales Tax Liability

AP Aging

Report men

View menu

Report center

Document center

Start the client data review.

Add reports to QuickBooks

Run most reports in QuickBooks

Delete reports in QuickBooks Multiple Reports

Click the reports center icon then click the process multiple reports button.

Click the reports menu then select process multiple reports.

Click the file menu then click multiple reports.

Click the process multiple reports icon on the home page.

Click the customize report button on the report.

Double click on the report element you want to change.

Click the modify report button on the report.

Right click on the report element you want to change.

You can't change the header/footer in QuickBooks. You would have to do this in Excel.

Double click on the header or footer in the report you want to change.

Click the customize report button on the report and then change the header footer tab.

Right click on the header footer in the report you want to change.

You must customize each report individually.

Click the Reports menu and select global report preferences.

Click the Reports menu and select Memorize Reports, set preferences; you can only set report preferences for memorized reports.

Click the edit menu and select preferences then click the reports and graphs group to set your report preferences.

Update Report

Memorize Report

Automate Report

Customize Report

Right click on the column and select column width, enter the appropriate amount and click OK.

Click the Format menu, select column width and enter the appropriate amount and click OK.

Click the three dots to the right of the column and drag it to the right.

Click the modify report button, click the display tab, and enter the appropriate column width.

General Journal entries require a good understanding of debits and credits and should not be used by non-accountants.

Enter a General Journal entry when you are not sure which form to use.

General Journal entries should not be used for year-end adjustments.

General Journal entries should not be used to enter depreciation.

To enter transactions in another way instead of using built in forms.

For accountants to make entries

For year end adjustments.

Enter depreciation

Click to the right of the name then drag the name up or down the list

Right-click on the name then select sort by selection.

You can't move list entries to different location on the list

Click on the diamond to the left of the name and then drag the name up or down to the desired location

Use the built in Excel link to track the information.

Add a custom field to the customer list.

Use track additional data feature in the customer center.

You cannot track customer's birthdays.

Click to the right of the name and drag the name up or down on the list.

Right click on the name then select sort by selection.

You can't use move list entries to different locations on the list.

Click on the diamond to the left of the name and then drag the name up or down the list.

Merging effectively combines names on a list.

QuickBooks allows you to merge an Expense account with an Income account.

Merging entries effects past transaction

You can only merge names of the same type.

Employees

Vendors

Subcontractors

Subcontractors

There is no balance, it has not been uses and is not linked to anything that has been used.

You entered a valid security password.

List entries can never be deleted.

The entry has not been used in the current year.

Items on a transaction do not affect the financial statements.

When you set up a non-inventory item, QuickBooks assigns the current on-hand quantity to the balance sheet.

When you purchase or sell an item, the value of the purchase or sales flows to the account and therefore the financial statement you selected when you set up the item.

You must use items on checks.

Open the item list, click to select appropriate item, then click the activities button and select inactivate item.

Open the item list, click to select the appropriate item, then click the bottom left button and select make item inactive.

Open the item list, click the select inactive items button, then select the appropriate items then click ok.

Click the items list and select make entries inactive then select the appropriate list entry then click ok.

It is an item type usually associated NSF fees.

It is an account used to record unpaid invoices

It is an item type usually associated with bad debt.

It is an account used to record payments before you make a deposit.

Check

Bill Payment

Paycheck

All of the above

Checks

Automatic bank withdrawal

Bill payment

Credit card charge

Checks

Invoices

Bill payment

Bills Banking

You don't set up a debit card at all.

Use the write checks window, enter the check and write debit in the check number field.

Open the check register and select debit card.

Create sub accounts.

Setup a credit card type account and name it debit card.

Use the write check window for the check register but type debit in the check number field.

Open the check register and select debit card from the drop down list.

Create a sub-account of your checking account and name it debit card.

Set up a credit card type account and name it debit card then use the Enter Credit Card Charges window.

Use the Write Checks window or Check Register and type debit in the check number field.

Set up a new window and choose Debit Card as the type then use the Enter Debit Card Charges window

Use the cash payment window.

You did not record checks in QuickBooks that are dated after the bank statement date.

The beginning balance calculated by QuickBooks does not match last months ending balance.

The QuickBooks Balance will never match the banks' balance.

The bank reconciliation is on a cash basis instead of the correct accrual basis.

It is not possible to delete a check from QuickBooks.

You printed or wrote a check but it will never be cashed. Example, the check was destroyed or lost.

You printed or wrote a check but changed your mind and decided to use a credit card instead.

You entered a check in QuickBooks but haven't printed it yet. You realized the purchase was actually made using a credit card. The check was never really used.

HIDE ANSWER

You mistakenly printed checks on plain paper.

You used the check number but it will never be cashed.

You entered the same check number twice in QuickBooks.

You accidently entered a handwritten check in QuickBooks but the purchase is actually made using a credit card.

QuickBooks Online, QuickBooks Pro, QuickBooks Premier, QuickBooks Enterprise Solutions

QuickBooks Online, QuickBooks Basic, QuickBooks Pro

QuickBooks Basic, QuickBooks Pro

QuickBooks Premier, QuickBooks Enterprise Solutions

Click on run aotomatically

Customized Report

Click on update data for the report

Memorized Report

Assets

Liabilities

Expenses

Equity

Select customer information from the menu

Delete the company and re-enter it

You can't change it once you've gone through the interview

Select company information from the menu

Loss and Profit statement and balance sheet

Journal statement and income statement

Equity statement and balance sheet

balance sheet and income statement

Enter bills, pay bills

Reports, accounts payable

Reports, accounts with balances

Enter accounts payable, enter bills

Enter payments

Set up customers

Run most reports in QuickBooks

Run only accounts with balances

Sales Invoice

Sales Receipt

Sales Estimate

Sales Ticket

Basic payroll

Standard payroll

Enhanced payroll

Advanced payroll

A payroll service option has been selected and you are ready to setup employees and taxes.

Your first payroll is completed.

QuickBooks has an accurate record of employee's earnings and deductions and payroll history and you are ready to create your first paycheck.

QuickBooks advises that you need to create checks or regular checks from 1099.

A payroll service option is selected.

Your fist payroll is completed.

QuickBooks has an accurate record of employees, earning deductions and payroll history and you are ready to create the first paycheck

Your payroll service subscription is selected and activated.

Divide 40,000 by the number of pay periods and manually enter this amount on each paycheck.

Divide 40,000 by the number of pay periods, example monthly, and enter that amount in the payroll info window.

Enter 40,000 in the payroll info window.

Divide 40,000 by the number of hours in a work year and enter that amount in the payroll info window.

In the new employee window, click the change tab drop down list and select employment info, then add the medical insurance payroll item below the employment detail section.

In the new employee window, click the change tab drop down list and select payroll and compensation info and then add the medical insurance payroll item below the additions deductions and company contributions.

In the new employee window, click the change tab drop down list and select personal info and then add the medical information in the personal deductions.

In the new employee window, click the change tab drop down list and select payroll and compensation information then click the taxes button and the medical insurance payroll below the other taxes and deductions.

Enter General Journal entries to record amounts due.

Drag and drop liabilities to the payment calendar.

Set deposit frequencies.

Run payroll forms such as the 9-41

Click write check or use the check register, enter the amount and select payroll liability as the account in the expense tab.

Click write check or use the check register, enter the amount and select the payroll items you are paying in the item tab.

Select the payment you want to make form the pay scheduled liability select view pay.

Drag and drop liabilities to the payment calendar.

You can prohibit access, grant full access or grant selective access; these levels apply to all transactions within that area.

You can prohibit access, grant full access or grant selective access; these levels apply to specific transactions in that area.

You can prohibit access or grant full access; these levels apply to specific transactions within that area.

You can prohibit access or grant full access; these levels apply to all transactions within that area.

Multiple users can access the company file, however, their activities are restricted

Only one user can work with each functional area.

Only one user can access the company file.

Multiple users can access the company file, however, only one transaction can be saved at a time.

To use QuickBooks in multi user mode the administrator and other users can have different versions of QuickBooks.

Only the administrator is allowed in the file while it is in single user mode.

To use QuickBooks in multi user mode each user must have the same version of QuickBooks on their computer to have access.

You can have a minimum of three users at a time in multiuser mode.

You cannot delete columns on a report.

Click the reports menu and select customize columns.

Click the Customize report button and on the display tab check (add ) or (uncheck) remove columns.

Click the Edit menu and select Preferences then click the Reports and Graphs group to make changes to columns.

Click the hide detail button.

Click the hide subaccounts button.

Click the modify reports button then the hide subaccounts then click ok.

Click the collapse button.

You cannot hide sub accounts on a report

To send the report to excel it must be collapsed

Can only email a report that is collapsed

To temporarily hide unnecessary detail and hide parent accounts

You can't open a QuickBooks report in Excel.

Click the Excel button on the top of any QuickBooks report.

Use the import from QuickBooks Wizard in Microsoft Excel.

Select the view report in a database in the report center.

Use the import from excel wizard in QuickBooks.

You can't import changes in Excel back to QuickBooks.

Open the original report and click export; click the advance tab and select import list exported report

From the menu select reports, original report, name, import from excel.

Track attempts to access a restricted area.

Track any changes and deletions to transactions and track which user makes the change or the deletion.

To prepare the books for an accounting item or forms audit.

To help you perform a year end audit.

Select Edit Preferences from the menu then click the customization icon and select the appropriate form template.

Double click on the form title bar and select the appropriate form template.

Select Edit, Apply custom template from the menu

Open the form, click the templates drop down list and select the appropriate form.

Checks

Invoice

Purchase Order

All of the above

Checks

Invoice

Purchase Order

All of the above

Click on form template, Design the form you want.

Open the form, click the templates drop down list and select the appropriate form.

Click on design forms template and click on the one you want.

You can't change the templates of forms

Add a custom field to the customer list.

Select track birthday in customer information window.

Click on track birthdays in preferences for customers.

This is not an option in Quickbooks.

Click on run aotomatically

Customized Report

Click on update data for the report

Memorized Report

It has no balance

It is linked to an account, but isn't used

it isn't being used

it isn't linked to anything that has been used

Assets

Liabilities

Expenses

Equity