Font size
WorksheetsQuickBooks Practice 1
Total questions: 35
Worksheet time: 26mins
Which user types do not have permissions to view customer or vendor information? Choose two answers.
Accountants
Custom user
Reports only
Time tracking only
Which user types do not have permissions to view customer or vendor information? Choose two answers.
Accountants
Custom user
Reports only
Time tracking only
You purchased something with a debit card, which of the following is not a step?
From the chart of accounts set up a credit card type account named debit card.
Enter who you paid how much and what it was for, expense account.
On the homepage record credit card charge
Open the Write Checks window. Type debit in the number field type, who you paid, how much and what it was for, expense account.
Choose Save and Close
Customer received goods and services but hasn’t paid yet.
Statement
Sales receipt
Estimate
Sales Orders
Invoice
Your company no longer sells a particular item. You’ve been asked to make the item inactive. Which is step two?
Open the Item List
Drag the Item off the list
Select make Item Inactive
Click on the Item you want to hide
Click the Item drop-down arrow at the bottom left of the window.
Which form CANNOT be customized?
Estimate
Invoice
Sales Receipt
Bill
Your company sells unique items to every customer. They never sell the same service or product twice. What item should you set up in QuickBooks?
Set up a generic item and edit the description and price each time.
Click the one time use button in the new item window.
Set up unique items for each sale and make them inactive after the sale.
Do not use items when invoicing the customer.
You want to remind a customer about the outstanding invoices they still owe you for.
Statement
Estimate
Sales receipt
Invoice
Sales Orders
Your company had to return some goods to a vendor. How do you record the vendor credit in QuickBooks?
QuickBooks refunds the credit on the home page.
Enter a journal entry.
Enter bill then click credit on top of the bill.
In the pay bills window, select refunds and credits.
Where can billable expenses be set up?
Create - Billable Expenses
Create - Expense Tracking
Settings - Account and Settings - Expenses
Settings - Account and Settings - Advanced
Your company no longer sells a particular item. You’ve been asked to make the item inactive. Which is step three?
Open the Item List
Drag the Item off the list
Select make Item Inactive
Click on the Item you want to hide
Click the Item drop-down arrow at the bottom left of the window.
You been asked to move the name of the customer and the customer center from the top of the list to the bottom of the list. How do you do this without renaming the customer?
Click to the right of the name then drag the name up or down the list
You can't move list entries to different location on the list
Right-click on the name then select sort by selection.
Click on the diamond to the left of the name and then drag the name up or down to the desired location.
What does an IT manager need to do with QuickBooks Online?
Back up the data
Manage users
Run patches
Run updates
Which of the following is an example of Service.
Cans of soda pop and energy bars that you buy in bulk, store in the van, and then sell.
Catering by the hour if someone asked you to help with the party.
You allow customers to buy a handful (whatever their hand can hold of chocolates) for dessert. You don’t track the number.
A quick lunch special that you make by attaching an energy bar to a can of soda.
List entries may be deleted only when:
There is no balance, it has not been uses and is not linked to anything that has been used.
List entries can never be deleted.
You entered a valid security password.
The entry has not been used in the current year.
Which two of the following steps are not needed to restore a company file?
Make sure the Homepage is open.
Click the Backup menu
Select Restore a backup copy click next and follow the steps
Click the File menu
Choose Open or Restore Company
You are setting up a service item. What happens if you select the box next to this "service is performed by a subcontractor or partner"?
QuickBooks provides fields so you can track purchase and sales information for that item.
QuickBooks makes the item a payroll item.
QuickBooks automatically sets up a 1099 tracking.
QuickBooks automatically marks this item for time tracking.
When should you use the items tab on a bill or check?
To track sales tax.
When you purchase inventory parts.
To see if expenses are recorded accurately.
All of the above.
The bank notifies you that a customer's check you have deposited has bounced. The customer did not have sufficient funds to cover the check. What should you NOT do?
Call the customer and tell him to send another check.
Delete the customer's payment from the deposit.
Record a transaction to show the customer owes you the money and the checking balance had decreased that same amount.
Charge your customer a bounced check fee.
Which of the following is a reason restore a company file?
To start recording transactions for a new year because each file tracks only one fiscal year.
To start over when a company file has many errors that are beyond repair.
QuickBooks cannot create more than one file.
he current company file has reached a limit of 1,000 transactions.
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 QuickBooks Online does one go to add a user?
Create - New User
Create - User
Settings - Add User
Settings - Manage Users
Which of the following is a possible reason for a bank reconciliation discrepancy?
You did not record checks in QuickBooks that are dated after the bank statement date.
The QuickBooks Balance will never match the banks' balance.
The beginning balance calculated by QuickBooks does not match last months ending balance.
The bank reconciliation is on a cash basis instead of the correct accrual basis.
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
Which of the following CANNOT be entered during the setup of a new company?
Company name and address
Trial balance, open balance
Chart of accounts
Checking account statement balance
The combined action of a group of people, especially when efficient is called...
(a)
What is the quickest way to find an invoice from 6 months ago?
Click the Help menu, search for invoice by date.
Click the 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.
How would you track customer birth dates in QuickBooks?
Use the built in Excel link to track the information.
Use track additional data feature in the customer center.
Add a custom field to the customer list.
You cannot track customer's birthdays.
You need to restore a company file from a backup. Which is step number one?
Make sure the Homepage is open.
Click the Backup menu
Select Restore a backup copy click next and follow the steps
Click the File menu
Choose Open or Restore Company
Once you have completed the sign up of new company file, how do you change company information such as business name, address, or phone number?
Select file, open company from the menu.
Select company information from the menu.
Select file Express Start from the menu.
Select edit preferences from the menu.
Which two pieces of information are required when creating a QuickBooks account? Select 2 answers.
Annual Revenue
Company Age
Company Name
Number of Employees
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 should you do after you click Save & Close on a Customer Credit Memo?
Print a bill payment stub
Apply the credit memo against the customer's balance using the receive payments window.
Apply the credit memo used in the Pay Bills window
Choose between retained as an available credit, give a refund or apply to an invoice.
What is the primary reason for setting a closing date in QuickBooks?
To transfer current year net income to retained earnings.
To delete prior year transactions.
To restrict users from deleting, editing or adding transactions to last year.
To reduce company file size
Where in QuickBooks Online does one go to add a user?
Create - New User
Create - User
Settings - Add User
Settings - Manage Users
