SECTION 1:

Review Answers
Take a minute to review your answers before you turn in your work.
Once you submit this section, you won’t be able to change your answers.

• Q1
• Which 4 sections of the Overview screen can help you perform a high-level review of
their books?

Edit answer

Your answer:
Banking Activity
Company Setup
Common Issues
Transaction Volume

• Q2
• Which 3 of these areas does the New Client Checklist tool focus on to help gather the
information needed to select the right QuickBooks Online subscription for a client?

Edit answer

Your answer:
Client Profile
QuickBooks Features and Solutions
Needs Assessment

• Q3
• Which 2 QuickBooks subscription levels would support a client who needs to track
inventory and create purchase orders and budgets?
 Edit answer

Your answer:
Advanced
Plus

• Q4
• What are 2 benefits of the ProAdvisor Preferred Pricing program?

Edit answer

Your answer:
Itemized billing of all firm-billed subscriptions
Up to 30% off subscriptions for your clients

• Q5
• Which 2 QuickBooks Online Payroll subscription levels include QuickBooks Time?

Edit answer

Your answer:
Elite
Premium

• Q6
• Where can you enable account numbers for the chart of accounts?

Edit answer

Your answer:
The Advanced tab in Account and Settings

• Q7
• What are 2 ways to update the chart of accounts to suit the needs of your client?

Edit answer

Your answer:
Make unnecessary accounts inactive in batch
Merge duplicate accounts

• Q8
• Which 2 accounts cannot be merged or made inactive?

Edit answer
Your answer:
Uncategorized Expense
Retained Earnings

• Q9
• Which 4 list types can be directly imported into QuickBooks Online from Excel?

Edit answer

Your answer:
Customers
Vendors
Chart of accounts
Products and services

• Q10
• What 3 file formats can you use for importing lists directly into QuickBooks Online?

Edit answer

Your answer:
Google sheets
CSV files
Excel files

• Q11
• Which statement is true when importing lists into QuickBooks Online?

Edit answer

Your answer:
When importing lists, you can choose to overwrite products and services with identical
names

• Q12
• If a client doesn’t want to track the quantity on hand of the products they sell, what
Product/Service type should they select when setting up the items in QuickBooks
Online?

Edit answer

Your answer:
Non-inventory

• Q13
• There are four item types to choose from in QuickBooks Online.
 Edit answer

Your answer:
• These are products bought and sold where it isn’t necessary to track
quantities on hand, such as small parts used in the installation or delivery of a
product.
Non-inventory
• This is a collection of products and services that are sold together, such as the
installation of a product that includes both labor and materials.
Bundle
• These are products that are bought and sold, and where it is necessary to
track quantities on hand.
Inventory (in QuickBooks Online Plus and Advanced only)
• This includes services that are provided to customers, such as an emergency
service call visit or other labor.
Service

• Q14
• What are 2 reports that can be filtered by customer type?

Edit answer

Your answer:
Customer Contact List
Sales by Customer Type Detail

• Q15
• Where is the Vendor center accessed in QuickBooks Online?

Edit answer

Your answer:
Left navigation > Expenses > Vendors
SECTION 2:
• Q1
• Which 3 of these can you do when you select the Pencil icon on the bank account tile
in the Banking center?

Edit answer

Your answer:
Edit the account name
Disconnect the account
Update the bank info of that account

• Q2
• Which statement is true when an account is disconnected from the bank feed in
QuickBooks Online?

Edit answer

Your answer:
Transactions that haven’t been categorized yet will be removed from the For review tab

• Q3
• What user type is appropriate for nonprofit companies that need to provide
reporting access to their board members?

Edit answer

Your answer:
Reports only user

• Q4
• What sales tax rate will QuickBooks Online apply?

Edit answer

Your answer:
No sales tax will be applied

• Q5
• If you think sales tax isn’t being calculated correctly, which 2 of these should you
verify?

Edit answer
Your answer:
That the correct tax category is selected
That the tax is being calculated on the correct address

• Q6
• Where should a client initiate the setup of QuickBooks Payments?

Edit answer

Your answer:
The Payments tab in Account and Settings

• Q7
• Where would your client navigate to view the status of a bill payment that was paid
using Bill Pay powered by Melio?

Edit answer

Your answer:
Open bill payment > View online payment

• Q8
• Where are 2 places you can search for apps that work with QuickBooks Online?

Edit answer

Your answer:
www.apps.com
The Apps center tab in QuickBooks Online Accountant

• Q9
• When logged into QuickBooks Online Accountant, where can you view apps that are
connected to a client's QuickBooks Online?

Edit answer

Your answer:
Apps > Client apps

• Q10
• Custom fields can be accessed from what 2 locations in QuickBooks Online?

Edit answer

Your answer:
Gear > Account and Settings > Sales > Sales form content
Gear > Custom fields

• Q11
• Where should he navigate to make this change?

Edit answer

Your answer:
Gear > Custom form styles

• Q12
• Where would you go to disable this feature?

Edit answer

Your answer:
Gear icon > Account and Settings > Sales tab > Tags

• Q13
• What is the first step in QuickBooks Online that must be completed prior to
recording the deposit?

Edit answer

Your answer:
+New > Receive payment

• Q14
• How would you create a new estimate in QuickBooks Online?

Edit answer

Your answer:
Sales > All Sales > New Transaction > Estimate

• Q15
• What is the best practice sequence of steps to convert an estimate to a purchase
order?

Edit answer

Your answer:
Open estimate > Dropdown next to Create invoice > Copy to purchase order
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SECTION 3:
• Q1
• Which 3 types of customer statements can QuickBooks Online generate?

Edit answer

Your answer:
Statements that show only open transactions
Statements that show a balance forward and then all activity between two specified dates
Statements that show invoices created between two specified dates and their related
payments

• Q2
• Where should clients who want to apply credits manually go to disable this option?

Edit answer

Your answer:
Account and Settings > Sales > Products and Services

• Q3
• What are 2 ways to access the vendor credit screen in QuickBooks Online?

Edit answer

Your answer:
+New > Vendor credit
Expenses center > New Transaction > Vendor credit

• Q4
• In which 3 cases would you use the Add funds to this deposit grid in a bank deposit?

Edit answer

Your answer:
When an employee reimburses the company
When a company doesn’t record income using sales transactions (invoices or sales
receipts), and wants to record deposits directly to income accounts
If you receive a tax refund from the IRS

• Q5
• What type of transaction is recorded when a customer pays via a payment link?

Edit answer
Your answer:
Sales receipt

• Q6
• If your client wants to enable Autopay for their Customer, which 3 setup steps are
required?

Edit answer

Your answer:
The recurring invoice is set to auto email the Customer
Enable Online payments on the recurring invoice template
Set up a scheduled, recurring invoice template in QuickBooks Online

• Q7
• How many times are customers able to make a payment via a payment link before it
expires?

Edit answer

Your answer:
One time

• Q8
• What are the 3 ways to capture bills and receipts so that they can be matched to
transactions and added to the bank feed?

Edit answer

Your answer:
File upload
Forwarding by email
Via the mobile app

• Q9
• Which statement about adjusting journal entries in QuickBooks Online is true?

Edit answer

Your answer:
Only the lead accountant can create adjusting journal entries

• Q10
• Which 2 problems does the Pay down credit card workflow solve for clients?

Edit answer
Your answer:
It ensures that payments to credit card accounts are categorized correctly
It uses language that non-accountants can understand

• Q11
• Where should your client go to record a Transfer?

Edit answer

Your answer:
+New > Transfer

• Q12
• Which Accountant tool in QuickBooks Online Accountant helps identify transactions
that may have been removed accidentally from the company file?

Edit answer

Your answer:
Voided/deleted transactions

• Q13
• Which common workflow error can cause duplicate expenses in QuickBooks Online?

Edit answer

Your answer:
Creating a bill to record a vendor expense, and creating a check to the vendor for the same
expense
SECTION 4:
• Q1
• When an excluded transaction is reinstated, which tab in the Banking center will it
appear under?

Edit answer

Your answer:
For review

• Q2
• Which 3 criteria can be specified in a bank rule condition?

Edit answer

Your answer:
Description
Bank account
Transaction Amount

• Q3
• What 3 transaction types can you assign in a rule for money-in transactions?

Edit answer

Your answer:
Deposit
Transfer
Credit card payment

• Q4
• Which 3 statements regarding bank rules are true?

Edit answer

Your answer:
Bank rules can be prioritized
Bank rules can automatically add transactions to the register
Bank rules can be copied, edited, or deleted

• Q5
• What happens when QuickBooks Online doesn't find a rule that applies to a
transaction?
 Edit answer

Your answer:
It tries to suggest a category based on past transactions with the same vendor name

• Q6
• In which of these scenarios would a scheduled recurring transaction be the best
automation option?

Edit answer

Your answer:
When invoices are sent monthly to a customer for fixed amounts and descriptions (and for
any unbilled charges as well)

• Q7
• Which 4 transaction types can be made into recurring templates?

Edit answer

Your answer:
Transfer
Invoice
Bill
Deposit

• Q8
• Which 3 statements are correct regarding reconciling a bank account in QuickBooks
Online?

Edit answer

Your answer:
Transactions added or matched in the Banking center are automatically marked tentatively
cleared
To view the reconciliation report, select History by account
To begin the reconcile process, you need to enter the statement ending date and ending
balance from the relevant bank statement

• Q9
• Which statement is true about the Reconciliation Discrepancy report?

Edit answer

Your answer:
It’s available if reconciling an account with reconciliation discrepancies
 • Q10
• Which report indicates when QuickBooks Online users signed in and out?

Edit answer

Your answer:
Audit log

• Q11
• What’s used to validate the bank and credit card account balances on a balance
sheet?

Edit answer

Your answer:
Reconciliation reports

• Q12
• Which report shows the book (purchase or cost) value of inventory items with
quantity on hand?

Edit answer

Your answer:
Inventory Valuation Summary (or Detail)

• Q13
• What 3 customizations can you do from the Header/Footer section of the Customize
reports drawer?

Edit answer

Your answer:
Change the header or footer alignment
Show the logo
Show or hide the report basis

• Q14
• Which 3 predefined management report templates will a client see in their company
file?

Edit answer

Your answer:
Sales performance
Expenses performance
Company overview

• Q15
• Which 2 management report templates will be seen by default when accessing a
client’s books via QuickBooks Online Accountant?

Edit answer

Your answer:
Expanded company financials
Basic company financials

SECTION 5:
• Q1
• What should you do if you don’t see the Setup tab in the Books review screen inside
QuickBooks Online Accountant?

Edit answer

Your answer:
Select Cleanup from the dropdown next to the Books review heading

• Q2
• When are 2 times you might use the Setup screen in the Books review feature?

Edit answer

Your answer:
When recording beginning balances in a new QuickBooks Online company
When making adjustments to balance sheet account balances during the clean up process

• Q3
• What are 3 workflow tabs in the Books review center?

Edit answer

Your answer:
Transaction review, Account reconciliation, Final review
 • Q4
• Which 2 forms related to employees and contractors do you need to file at year end?

Edit answer

Your answer:
Form 1099
Form W-2

• Q5
• Where would you go to review your client’s expense account to see if any
transactions have been miscategorized?

Edit answer

Your answer:
Reclassify transactions from Accountant Tools

• Q6
• As an accountant user, where can you access and begin reclassifying transactions?

Edit answer

Your answer:
Accountant Tools > Reclassify transactions

• Q7
• If you set a closing date with a password, can a client’s office manager with standard
access make changes to transactions? If so, how would you track any changes they
make in the closed period?

Edit answer

Your answer:
Yes, but only if they know the password. Changes are flagged in the Exceptions to Closing
Date report

• Q8
• What’s the reason a client wouldn’t see the Exceptions to Closing Date report in the
Reports center?

Edit answer

Your answer:
No closing date has been set
 • Q9
• Where would you go to make them appear again?

Edit answer

Your answer:
The Gear icon below the Add client button in the Clients menu

• Q10
• When downgrading a client’s subscription, what will be affected as a result of the
downgrade?

Edit answer

Your answer:
All discounts will be removed

• Q11
• Which 3 of these can you do from the Teams menu in QuickBooks Online
Accountant?

Edit answer

Your answer:
Track users’ ProAdvisor certifications and their expiration dates
See the user’s status of team members
Add a new accountant user

• Q12
• Which 2 statements about creating a client request in QuickBooks Online
Accountant are true?

Edit answer

Your answer:
A document request notification can be sent via email by selecting Notify client
A document request appears in the client’s QuickBooks Online company in the My
Accountant menu

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