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WorksheetsIntuit QuickBooks Online Certification Final Assessment
Total questions: 107
Worksheet time: 54mins
Match the QuickBooks subscription (license) to the business requirements.
Advanced
Enhanced reporting, custom permissions, and access for up to 25 users.
Essentials
Assigning hours to customers, tracking bills, and allowing up to 3 users.
Plus
Designed for businesses needing inventory, job costing, and budgeting (up to 5 users).
Self-Employed
Best for small business owners reporting income on Schedule C with no employees.
Simple Start
Good for small service businesses that issue invoices regularly.
For each statement about QuickBooks Plus, indicate whether it is True or False: QuickBooks Plus provides inventory tracking.
True
False
For each statement about QuickBooks Plus, indicate whether it is True or False: QuickBooks Plus allows up to 5 user licenses.
True
False
For each statement about QuickBooks Plus, indicate whether it is True or False: QuickBooks Plus provides project profitability tracking.
True
False
For each statement about QuickBooks Plus, indicate whether it is True or False: QuickBooks Plus includes payroll support at no additional cost.
True
False
What is the main purpose of using QuickBooks apps?
Provide security to cloud data.
Enhance functionality.
Reduce the price of QuickBooks.
Fix company file errors.
Identify three reasons to install QuickBooks apps. (Choose 3)
Create a shopping cart for your website.
Automate tasks like data entry.
Add a security layer to banking.
Add industry-specific tools.
Track more data/reporting.
Which two are the benefits of using apps to extend QuickBooks? (Choose 2)
Apps provide guaranteed security for your QuickBooks data.
All apps come with a free license from Intuit.
Apps are automatically downloaded based on your company’s industry.
Apps can automate tasks like invoicing and bookkeeping.
Apps let you manage your QuickBooks data from mobile devices.
Choose two risks of using third-party apps with QuickBooks. (Choose 2)
Support is typically available only through community forums.
Apps are only secure on iPhones.
Apps could corrupt your data.
Anyone can get an app and steal your cloud data.
An Internet connection is required.
Where do you get verified QuickBooks-compatible apps?
QuickBooks App Store
Google Play
Apple App Store
iTunes
What is the main purpose of the QuickBooks Home Dashboard?
It provides a setup wizard for your company file.
It is used mainly to print reports.
It gives a complete overview of your business’s financial health.
It displays customer and vendor lists by default.
What can you do directly from the QuickBooks Dashboard?
Record mileage
Review audit log
Customize Quick Actions
View Profit & Loss Snapshot
Match QuickBooks roles to their access level.
Admin-level access in Advanced
Company Admin
Varying access to vendors, customers, and reports
Standard User
Full control of QuickBooks
Primary Admin
Restricted access to select features in Advanced
Customer User
For each statement about default user roles, indicate whether it is True or False.
Time Tracking role doesn’t count toward user limits.
True
Standard user with full access can view company settings.
True
Primary (Master) Admin cannot be reassigned.
False
You want to find out who made a change to your books, what was changed, and when. Where should you go in QuickBooks?
Audit Log
General Ledger
Transaction List by Date
Recent/Edited Time Activities
Put the steps to move data from QuickBooks Desktop to QuickBooks Online in the correct order.
Step 1
Open QuickBooks Desktop and log in as an Admin to the company file you want to move.
Step 2
From the Company menu, choose Export Company File to QuickBooks.
Step 3
Click Get Started to begin the export process.
Step 4
Click Select Destination and sign in to your QuickBooks account.
Select three tasks that can be automated in QuickBooks. (Choose 3)
Payroll
Financial reporting
Payment reminders
Auditing
Inventory reordering
Regarding third-party apps, indicate whether the statement is True or False: QuickBooks includes access to the App Store at no extra cost.
True
False
Regarding third-party apps, indicate whether the statement is True or False: The App Store is accessible directly within QuickBooks Plus.
True
False
Regarding third-party apps, indicate whether the statement is True or False: Apps that don’t meet Intuit’s standards can still connect to your QuickBooks account.
True
False
Which fields can be edited in the Company tab of Account and Settings? (Choose 3)
Employer Identification Number (EIN)
Company Name and Address
Services Price List
Company Products
Contact Info
Categorize the following statements as Cash or Accrual accounting method. - Revenue is recognized only when payment is received following a sale. - Provides a more accurate picture of a company because it includes Accounts Receivable and Accounts payable. - The method most widely used by small businesses. - A company makes a sale and records the expected revenue as an Accounts Receivable transaction.
Revenue is recognized only when payment is received following a sale.
Cash
Provides a more accurate picture of a company because it includes Accounts Receivable and Accounts payable.
Accrual
The method most widely used by small businesses.
Cash
A company makes a sale and records the expected revenue as an Accounts Receivable transaction.
Accrual
Which two are advantages of using the Close the Books feature in QuickBooks? (Choose 2)
It keeps a record of all transactions modified after the closing date.
It logs any updates made to entries from closed accounting periods.
It produces a detailed report showing changes after the books are closed.
It blocks users from viewing data from locked accounting periods.
It restricts users from editing transactions once the books are closed.
Which lists can be imported into QuickBooks? (Choose 4)
Products & Services
Customers
Credit Cards
Chart of Accounts
Vendors
For each statement regarding the Chart of Accounts, indicate whether it is True or False. - QuickBooks sets up accounts based on industry. - Only income and expense accounts can be added. - You can add new accounts anytime. - You can only add accounts during setup.
QuickBooks sets up accounts based on industry.
True
Only income and expense accounts can be added.
False
You can add new accounts anytime.
True
You can only add accounts during setup.
False
Match each list to its corresponding description. Lists to use: Chart of Accounts; Customer List; Item List (Products and Services); Vendor List.
Names, descriptions, prices, SKUs
Item List (Products and Services)
Names, contact info, billing terms
Customer List
Financial categories like A/P, equity, etc.
Chart of Accounts
Supplier names, addresses, and payment terms
Vendor List
For each customer and vendor account field, identify if the entry must be Unique or can be Identical.
First name
Identical
Last name
Identical
Display name
Unique
Company name
Identical
Indicate whether the statement is True or False: Vendors sell goods and services, customers buy goods and services.
True
False
Indicate whether the statement is True or False: You can tag a customer as a vendor using a checkbox.
True
False
Indicate whether the statement is True or False: Customers cannot also be vendors.
True
False
Indicate whether the statement is True or False: You can edit a Display Name indicating whether it is a customer or vendor.
True
False
Indicate whether the statement is True or False: Display name is optional.
True
False
Indicate whether the statement is True or False: Display name must be unique.
True
False
Indicate whether the statement is True or False: Display name helps sort lists.
True
False
Match each tracking tool with its purpose. • Projects • Locations • Classes
Track by department and assigns each line to a different code/category.
Classes
Track by city, office, or region.
Locations
Track job costs and income without needing a new code/category.
Projects
Indicate whether the statement is True or False: Project/Class/Location tracking is available in all QuickBooks versions.
True
False
Indicate whether the statement is True or False: Tracking can be enabled in the Advanced settings.
True
False
Indicate whether the statement is True or False: Budgets and reports are available by project.
True
False
Indicate whether the statement is True or False: Class codes are required to use Project tracking.
True
False
For each statement regarding merging accounts, indicate whether it is True or False.
After two vendor accounts are merged, if needed the action can be reversed.
False
To merge two vendor accounts, change the name of the record you want to merge so it matches the name of the vendor record you want to keep.
True
The only accounts you can merge are vendor accounts.
False
You should merge vendor accounts when you discover two accounts with slightly different display names are actually the same vendor.
True
Choose whether Service or Product is the correct classification for each sentence.
A company that cleans carpets is selling a
Service
If what was sold is mostly labor, it is recorded in QuickBooks as a
Service
A local farm stand that sells eggs and vegetables is selling a
Product
An item that is sold as raw material which will be used to manufacture finished goods is recorded in QuickBooks as a
Product
Which two reasons explain why you should set up the products and services you sell in QuickBooks? Choose two.
So you can track sales by product or service.
So you can add items to invoices, receipts, and expenses.
So QuickBooks can automatically reorder inventory.
So your bank tracks sales for taxes.
What’s a benefit of using Products & Services in QuickBooks?
To create sales reports.
To set custom formulas in reports.
To auto-notify customers of availability.
To auto-reorder items.
For which types of items is the “income account used when recording a sale” field available?
Inventory only
Services only
Inventory and Services
For each statement regarding setup of products and services, indicate whether it is True or False.
You must provide Price, Income Account, and COGS when setting up a Product.
True
You must mark items as non-taxable; the default status is taxable.
True
You cannot change a product’s type after saving.
False
You should enable “Show Product/Service column on sales forms.”
True
When tracking Inventory and Services in QuickBooks, which items allow entry of starting quantity on hand?
Inventory only
Services only
Both inventory and services
Classify the items below as Inventory or Non-inventory: Shelving used to display products; Fruits and vegetables for sale; Special request food item not intended for sale.
Shelving used to display products
Non-inventory
Fruits and vegetables for sale
Inventory
Special request food item not intended for sale
Non-inventory
Classify items sold by a clothing store as Inventory or Non-inventory: Hangers for product display; Regularly stocked shirts; Custom-ordered shirt not intended for sale.
Hangers for product display
Non-inventory
Regularly stocked shirts
Inventory
Custom-ordered shirt not intended for sale
Non-inventory
For each statement regarding customers and sales tax, indicate whether it is True or False: The default tax status for new customers is Taxable; Taxability of a product or service can be changed on the invoice or sales receipt; If you sell a taxable service to a taxable customer, QuickBooks calculates sales tax and adds it to the invoice; If you sell a taxable service to a non-taxable customer, QuickBooks calculates sales tax and adds it to the invoice.
The default tax status for new customers is Taxable
True
Taxability of a product or service can be changed on the invoice or sales receipt
True
If you sell a taxable service to a taxable customer, QuickBooks calculates sales tax and adds it to the invoice
True
If you sell a taxable service to a non-taxable customer, QuickBooks calculates sales tax and adds it to the invoice
False
Which three statements about inventory are true? Choose 3.
Starting quantity is required.
You can adjust inventory manually.
Available in all QuickBooks versions.
FIFO is used for costing.
Inventory value can be edited directly.
Match each item type with its corresponding definition: Inventory; Non-Inventory; Service; Bundle.
Sold without being tracked in stock
Non-Inventory
Time-based offering for customers
Service
Group of items/services sold together
Bundle
Tracks quantity and alerts for reorders
Inventory
Which report shows income and expenses for a specific time period?
Transaction List by Date
Statement of Cash Flows
Balance Sheet
Profit & Loss
Which setting allows you to display a column for each month on a report?
Report Period
Compare Another Period
Display Columns By
Customize > Monthly
Which format is NOT available for sharing a QuickBooks report?
Google Sheets
Excel
Which report components can be customized in a QuickBooks report?
Date Range
Accounting Method
Formulas and calculations
What setting lets you compare the same report across two time periods?
Report Period
Compare Another Period
Non-zero filter
Customize > Filters
When viewing a Cash Flow Statement, which is true?
It only shows equity.
It has the same headings as the income statement.
It is divided into Operating, Investing, and Financing.
It includes the bank balance.
In which two scenarios would you use a journal entry in QuickBooks? (Choose 2)
Setting up a repeating transaction.
Using automation to post income and expenses.
Manually recording debits and credits.
Reclassifying money between income and expense accounts.
Adding a new product to inventory.
Which statements regarding setup of journal entries are true?
You must click Save and Close to record the journal entry.
QuickBooks fills in the date and journal entry number automatically.
After entering a debit account, QuickBooks automatically adds the credit account.
True
False
Your business owns a forklift that loses $1,000 in value each year. How should you record this annual depreciation as a journal entry in QuickBooks?
Debit Forklift-Accumulated Depreciation $1,000; credit Depreciation Expense
Debit Uncategorized Asset $1,000; credit Depreciation Expense
Debit Depreciation Expense $1,000; credit Purchases
Debit Depreciation Expense $1,000; credit Forklift-Accumulated Depreciation
Put the steps to create a journal entry in the correct order by matching each step number to the action.
Step 1
Select the account to use
Step 2
Enter the debit and credit amounts
Step 3
Confirm that debits and credits are equal
Step 4
Add a short memo to describe the entry
Which report helps you track past due bills?
Transaction List by Vendor
Bill Payments List
Unpaid Bills
Vendor Balance Detail
Which two steps must you take to support a new Net 15 vendor term? (Choose 2)
Add Net 15 to the Terms list.
Update the term on unpaid bills.
Edit the vendor record to use Net 15.
Change the default invoice term in Account and Settings.
For each statement regarding 1099 workers, indicate whether it is True or False: They pay their own taxes.
True
False
For each statement regarding 1099 workers, indicate whether it is True or False: They usually get company benefits.
True
False
For each statement regarding 1099 workers, indicate whether it is True or False: They have some choice in deciding where or when to work.
True
False
For each statement regarding 1099 workers, indicate whether it is True or False: They are full-time employees.
True
False
What report shows vendor charges and totals by account?
Transaction List by Vendor
Vendor Balance Summary
Purchases by Vendor
Expenses by Vendor Summary
Which two categories represent Money-out transactions? (Choose 2)
Check
Vendor Bill
Reminder
Purchase Order
Invoice
Which two tabs can be found on the Bills page? (Choose 2)
For Review
Unpaid
Mark as Paid
Pay by Credit Card
What happens when you receive a vendor credit?
Credit the account used for the original purchase.
Credit COGS.
Reissue the bill for less.
Request a refund.
A vendor has changed your payment terms from Net 15 to Net 30. What’s the correct way to update these terms for future bills in QuickBooks?
Change the default invoice terms in Account and Settings to Net 30.
Open each past bill and manually update the term to Net 30.
Edit the vendor’s profile and change the term to Net 30.
Go to the Terms list and edit the Net 15 term to say Net 30.
How is QuickBooks Payments different from traditional payment methods?
All deposit types are made instantly.
QuickBooks automatically applies the payment as soon as it's received.
Payments can be deposited into a QuickBooks Cash bank account.
QuickBooks Payments only works with online invoices.
Which statement is true about sub-customers in QuickBooks?
Sub-customers are referrals who receive commissions for new business.
Sub-customers are linked to a parent customer and used to track jobs or locations.
Sub-customers are used to apply service charges automatically.
Sub-customers are vendors converted into customers.
Which statements about customer payment terms in QuickBooks are true? (Choose 2)
“Net 30” means the customer must pay the invoice in full within 30 days of the invoice date.
QuickBooks can apply early payment discounts based on the payment terms.
You must assign payment terms when creating a new customer.
“Net 30” means the customer receives a 30% discount for early payment.
All customers must use the same payment terms in QuickBooks.
For each statement regarding setting up customer payment terms, indicate whether it is True or False. Select all statements that are true.
You can create new payment terms from the New Customer form.
You must enter payment terms when creating a new customer.
If no terms are selected, QuickBooks automatically applies the default terms.
What does the term “Net 15” mean in QuickBooks?
The customer must pay the invoice in full within 15 days of the invoice date.
The customer will receive a 15% discount if they pay the invoice within 15 days.
The customer must make a partial payment within 15 days of the invoice date.
The customer will receive a 15% discount if they pay the invoice immediately.
For the statement about managing unbilled expenses, indicate whether it is True or False: The Unbilled costs by job report displays the unbilled expenses.
True
False
For the statement about managing unbilled expenses, indicate whether it is True or False: If you clear the Billable check box for a cost, it is no longer a business expense.
True
False
For the statement about managing unbilled expenses, indicate whether it is True or False: You can change the billable status of a cost by selecting or clearing the Billable check box on the check.
True
False
What does the Unbilled Costs (Unbilled Charges) by Job report show in QuickBooks?
Jobs that have not been paid.
Expenses and items that can be billed to customers.
Overlooked expenses not recorded in QuickBooks.
Invoices that are still unpaid.
Which QuickBooks feature lets you offer a 5% reduction to loyal customers on their invoices?
Vendor Credits
Discounts
Refunds
Commissions
Which two types of items can appear on sales forms in QuickBooks? (Choose 2)
Bundle, Services
Bundle, Group
Flat fee, Package
Group, Inventory
Inventory, Non-Inventory
What tool in QuickBooks should you use to reduce a customer’s invoice by 10%?
Refund Receipts
Vendor Credits
Discounts
Tips
For the statement about creating invoices, indicate whether it is True or False: The customer address is recommended for invoices but optional for Sales Receipts.
True
False
For the statement about creating invoices, indicate whether it is True or False: When a customer will pay you immediately after they make a purchase, you should create and send an invoice later.
True
False
For the statement about creating invoices, indicate whether it is True or False: You can use Save and Send to save an invoice and attach it to an email message directly from QuickBooks.
True
False
Which two statements about credit memos in QuickBooks are true? (Choose 2)
A credit memo can be used by the customer as a payment for an invoice.
A credit memo immediately reduces a customer’s current open balance.
A credit memo can be added as a line item to future invoices.
A credit memo does not impact sales reports.
For the statement about credit memos and refund receipts, indicate whether it is True or False: By default, QuickBooks automatically applies credit memos to invoices.
True
False
For the statement about credit memos and refund receipts, indicate whether it is True or False: A credit memo can be applied to an invoice to reduce the amount owed by a customer.
True
False
For the statement about credit memos and refund receipts, indicate whether it is True or False: A refund receipt and a credit memo are the same thing.
True
False
A refund receipt is a voucher that can be used as a payment for a future invoice.
True
False
Which transaction type allows you to send custom email messages directly from QuickBooks?
Letters to Banks
Checks and Credit Card Transactions
Inventory List
Invoices and Estimates
Fill in the blanks by selecting the correct accounting term from the list: debit (two places), bank account, accounts receivable. Use the terms to complete these sentences. When a refund receipt is created: ____ the revenue account tied to the items being refunded (lowering income), and credit the ____ or undeposited funds account used for the original payment. When a credit memo is created: ____ the revenue account for the items being returned, and credit the ____ account, reducing what the customer owes.
Refund receipt: action applied to the revenue account for items being refunded
debit
Refund receipt: account credited for the original payment
bank account
Credit memo: action applied to the revenue account for items being returned
debit
Credit memo: account credited to reduce what the customer owes
accounts receivable
How do you enable the expense tracking by customer feature in QuickBooks?
Assign the billable expense account to an income account.
In the customer record, on the Payment and Billing tab, select Allow billable expenses.
Enable the setting Track expenses and items by customer in the Accounts and Settings > Expenses tab.
QuickBooks cannot track expenses by customer.
What does the Accounts Receivable Aging Summary report show in QuickBooks?
Unpaid balances for each customer, grouped by days past due.
The total amount of your unpaid bills, grouped by days past due.
Overdue invoices with due dates, days past due, and totals for each customer.
Customer charges you have not yet invoiced.
To compare which products or services sell best, which report should you use in QuickBooks?
Sales by Product/Service
Sales by Customer
To compare which customers buy the most, which report should you use in QuickBooks?
Sales by Product/Service
Sales by Customer
You want to pass your costs directly to customers in QuickBooks. You can assign a customer to a cost, but the Billable checkbox is grayed out. What action should you take?
In the Account and Settings area, on the Advanced tab, select Billable Expense Income in the Billable Expense Income account.
In the Account and Settings area, on the Expenses tab, toggle on Track expenses and items by customer.
In the Account and Settings area, on the Expenses tab, toggle on Make expenses and items billable.
In the customer record, on the Payment and billing tab, select Allow billable expenses.
Which type of item should be marked as billable in QuickBooks?
Services that you provide to a customer.
Expenses for which a customer should reimburse you.
Products or services you sell to a customer who is also a vendor.
Products that you sell to a customer.
When a customer pays their bill through QuickBooks Payments, how does this feature differ from traditional payment methods?
QuickBooks Payments can be used only for online invoice payments.
QuickBooks automatically receives the payment.
QuickBooks deposits payments of all types at the same speed.
Payments can be deposited into a QuickBooks Cash bank account.
For each statement about accepting QuickBooks Payments, indicate whether it is True or False.
QuickBooks Payments allows you to accept payments directly from customers.
True
QuickBooks Payments accepts credit cards, debit cards, cash, checks, and ACH bank transfers.
False
Transaction fees are deducted for using QuickBooks Payments.
True
Categorize each of the following statements as either a Billing Address or a Shipping Address in QuickBooks: The address associated with a credit card; The mailbox where an invoice is typically delivered; The location where services are to occur; The location where products are to be delivered.
The address associated with a credit card.
Billing Address
The mailbox where an invoice is typically delivered.
Billing Address
The location where services are to occur.
Shipping Address
The location where products are to be delivered.
Shipping Address
Select two “Money‑in” forms that QuickBooks uses to collect customer payments. (Choose 2)
Credit Memos
Invoices
Sales Receipts
Checks
Purchase Orders
Put the steps for the Money‑in process in the correct order by matching each action to its step number.
Create a customer’s transaction.
Step 1
Create an invoice.
Step 2
Record the payment received.
Step 3
Deposit the funds into an account.
Step 4
Which statements accurately describe the Customer Display Name field? (Choose 2)
It’s used to track each customer’s balance.
It’s the only required field in Add Customer.
Must match the name or company.
Determines display on invoices.
