WorksheetsQuickBooks Online Review- 1
Total questions: 51
Worksheet time: 28mins
What do you click on to change the company address?
The Dashboard
The Gear Icon at the top right
The Plus Sign at the top right
Banking on the Navigation Bar on the Left Side of the Screen
Which two pieces of information are required when creating a QuickBooks account? Select 2 answers.
Annual Revenue
Company Age
Company Name
Number of Employees
Which type of data is not imported into QuickBooks when importing data?
Vendors
Customers
Data that does not match the format of a field
Employees
Where in the app does one go to add a user?
Settings - Manage Users
Create - User
Create - New User
Settings - Add User
Which save options appear on a bill? Choose two answers.
Save and Send
Save and Close
Save and New
Save and Share
When on the Dashbaord screen, what do you click to hide the financial information?
The privacy setting
The Global Create Icon (the plus sign)
The Settings Icon (the gear)
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 user types do not have permissions to view customer or vendor information? Choose two answers.
Accountants
Custom user
Reports only
Time tracking only
Where in QuickBooks Online does one go to add a user?
Create - New User
Create - User
Settings - Add User
Settings - Manage Users
You need to pay the same 4 bills every month, and you would like to save time. What feature could you use in QuickBooks Online?
Repeating transactions
Recurring transactions
Monthly transactions
Batch transactions
What does Accounts Receivable keep track of?
What you owe vendors
How much is in your bank accounts
What customers owe you
Your purchase orders
Which form CANNOT be customized?
Estimate
Invoice
Sales Receipt
Bill
Which of the following statements best describe QuickBooks?
QuickBooks is the #1 best-selling small business software.
QuickBooks is an online product that lets users track sales and expenses, accept payments, scan receipts, and be ready for tax time.
QuickBooks is an online product that includes payroll and payments options.
QuickBooks is an accounting software package.
Where would you go to find more information about QuickBooks products and services?
Intuit.com
Google.com
QuickBooks.com/tellmeallaboutquickbooks
Youtube.com
Match the term to the definition:
Income
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
Match the term to the definition:
Expenses
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.
The day that you start tracking your day to day business in QuickBooks is known as your "Start Date".
True
False
Which of the following CANNOT be entered during the setup of a new company?
Company name and address
Chart of accounts
Trial balance, open balance
Checking account statement balance
After QuickBooks sets up a chart of accounts during the Express Start or Advanced Setup, which of the following is TRUE?
Accounts open balances can be changed.
New accounts can only be added during the Express Start or Advanced Setup.
It is possible to add more accounts later.
Only Income and Expense accounts can be added after completing the Express Start Setup.
What is the primary reason for setting a closing date in QuickBooks?
To transfer current year net income to retained earnings.
To restrict users from deleting, editing or adding transactions to last year.
To delete prior year transactions.
To reduce company file size
Which of the following statements is TRUE regarding Undeposited Funds?
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.
Which of the following is TRUE regarding General Journal entries?
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.
Which is an example of when to use a non-inventory part?
When you sell the item and need to track quantity on hand information.
When you build a finished item from components.
When you buy the item and need to track quantity on hand information.
When you buy and sell an item but do not need to track quantity on hand information.
What is the Undeposited Funds account in QuickBooks?
An account used to record unpaid invoices.
An account used to remove bounced checks.
An account used to record payments you've made that have not been deposited yet.
An account used to record payments before you make a deposit.
Why do you not use a journal entry or bank deposit to record a sale?
The income from the sales will not show up in the bank account
The sale will not appear on the sales report and you can not track inventory
It is actually a good idea
The cash flow report will be wrong
You're setting up a new customer and the customer's invoices should be due 30 days after they are issued. How do you do that?
Set the customer's terms to Net30
Set the due date on the next invoice you enter for the customer. After that, QuickBooks will remember
You have to set this on each invoice you enter for the customer
Select the checkbox next to due in 30 days
What do you click on to change the company address?
The Dashboard
The Gear Icon at the top right
The Plus Sign at the top right
Banking on the Navigation Bar on the Left Side of the Screen
Which two pieces of information are required when creating a QuickBooks account? Select 2 answers.
Annual Revenue
Company Age
Company Name
Number of Employees
Which type of data is not imported into QuickBooks when importing data?
Vendors
Customers
Data that does not match the format of a field
Employees
Once a file is opened for import, what is the next step in the import process?
Indicate the list to which the data will be imported
Choose records to import
Map fields to import
Fix data erros
What is the path one needs to click to display numbers for accounts?
Settings-Advanced Settings
Settings-Account and Settings-Advanced
Settings-Chart of Accounts
Settings-Account Settings-Company
Which user types do not have permissions to view customer and vendor information? Choose two answers.
Accountants
Custom User
Reports Only
Time Tracking Only
Where in the app does one go to add a user?
Settings - Manage Users
Create - User
Create - New User
Settings - Add User
Which save options appear on a bill? Choose two answers.
Save and Send
Save and Close
Save and New
Save and Share
To Create a Customer which menu do you click on?
Settings (gear icon at top right)
The Navigation Bar (on the left side)
The Global Create (plus sign at top right)
To Create a Invoice which menu do you click on?
Settings (gear icon at top right)
Navigation Bar (on left side of screen)
Global Create (the plus sign at the top right)
To get to List Management which menu do you click on?
Settings (gear icon at top right)
Navigation Bar (left side of screen)
Global Create (the plus sign at top right)
When on the Dashbaord screen, what do you click to hide the financial information?
The privacy setting
The Global Create Icon (the plus sign)
The Settings Icon (the gear)
What does an IT manager need to do with QuickBooks Online?
Back up the data
Manage users
Run patches
Run updates
Which type of data is not imported into QuickBooks when importing data?
Customers
Data that does not match the format of a field
Employees
Vendors
Which user types do not have permissions to view customer or vendor information? Choose two answers.
Accountants
Custom user
Reports only
Time tracking only
Where in QuickBooks Online does one go to add a user?
Create - New User
Create - User
Settings - Add User
Settings - Manage Users
Which is not a section of the balance sheet?
Assets
Liabilities
Expenses
Equity
Once the easy step interview is completed or you have completed the sign of new company file, how do you change company information such as business name, address, or phone number?
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
You can upload your company logo into QuickBooks Online from the:
Navigation Bar
Company Setting
Create Icon
None of these options
QuickBooks Online creates a default Chart of Accounts base on:
what state you are in
the business type selected during setup
how long you have been in business
none of these options
