SECTION 1 – 100%

 Q1
 Which 3 of these areas does the Client Needs Assessment tool focus on to help gather the
information needed to select the right QuickBooks Online subscription for a client?

Edit answer

Your answer:
Features and solutions
Client profile
Needs assessment

 Q2
 What are the 3 primary ways to migrate client data to QuickBooks Online?

Edit answer

Your answer:
Enter data manually into the QuickBooks Online forms and check registers
Use the Import data tool
Convert data from existing QuickBooks Desktop file

 Q3
 What is the minimum QuickBooks Online version suitable for Brian's client?

Edit answer

Your answer:
QuickBooks Online Plus

 Q4
 What is one difference between ProAdvisor Discount and Direct Discount pricing, apart
from who pays for the subscription?

Edit answer

Your answer:
Duration of discount

 Q5
 Which 2 reasons could be causing this balance?

Edit answer

Your answer:
An opening balance was entered when an inventory item was created
An opening balance was entered when creating a new Other Current Asset account
  Q6
 Which 4 sections of the Overview screen can be used to perform a high-level review?

Edit answer

Your answer:
Transaction Volume
Company Setup
Banking Activity
Common Issues

 Q7
 Which menu area allows you to search for apps by the problem or business process they
address?

Edit answer

Your answer:
Browse category

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

Edit answer

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

 Q9
 What resource is available to help scope out your clients' needs?

Edit answer

Your answer:
New Client Checklist

 Q10
 Where can you enable account numbers for the chart of accounts?

Edit answer

Your answer:
Gear icon > Account and Settings > Advanced > Chart of Accounts > Enable account numbers

 Q11
 Which users will be able to see account numbers if they are enabled?
 Edit answer

Your answer:
All users will see the account numbers.

 Q12
 Which 2 accounts cannot be merged or made inactive?

Edit answer

Your answer:
Uncategorized Expense
Retained Earnings

 Q13
 What is the maximum number of characters allowed in the account number field?

Edit answer

Your answer:
7

 Q14
 Where would she navigate to assign a preferred vendor?

Edit answer

Your answer:
Sales > Products and services > Edit under the Action column > Preferred vendors dropdown

 Q15
 What must each product/service item be mapped to?

Edit answer

Your answer:
Chart of accounts

 Q16
 There are four item types to choose from in QuickBooks Online.

Edit answer

Your answer:
 This includes services that are provided to customers, such as an emergency
service call visit or other labor -
Service
  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
 These are products that are bought and sold, and where it is necessary to track
quantities on hand. You must subscribe to QuickBooks Online Plus or Advanced
to use this feature -
Inventory (in QuickBooks Online Plus and Advanced only)
 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

 Q17
 Where would he go to add the additional term?

Edit answer

Your answer:
Gear > All lists > Terms > New

SECTION 2 – 100%

 Q1
  What are 2 ways to add a new customer to QuickBooks Online?
Edit answer
Your answer:
Gear icon > Import data > Customers
Sales > Customers > New customer

 Q2

 What are 2 ways to add a new vendor to QuickBooks Online?

Edit answer
Your answer:
Expenses > Vendors > New vendor
Gear > Import data > Vendors

 Q3

 What does QuickBooks Online automatically create to record the balance owed when
adding a vendor with a non-zero opening balance?
Edit answer
Your answer:
Journal entry

 Q4

 What connection method eliminates the need to provide a bank user name and password
after the initial setup process?
Edit answer
Your answer:
OAuth

 Q5

 Where should they go to update their bank info in QuickBooks Online?

Edit answer
Your answer:
Banking Center > Banking tab > Select account tile > Pencil icon > Edit sign-in info

 Q6

 When first setting up Sales tax for a client, what information will be prepopulated?
Edit answer
Your answer:
Business address

 Q7

 Which 2 are correct regarding setting up a QuickBooks Payments account for a client?
Edit answer
Your answer:
The accountant should not be the primary owner of the client's QuickBooks Payments account
The Primary admin of the QuickBooks Online company should connect QuickBooks Payments

 Q8

 Bill Pay powered by Melio allows you to fund payments to vendors using which 3
methods?
Edit answer
Your answer:
ACH bank transfer
Credit card
Debit card

 Q9

 How can an Accountant user connect an app to a client's QuickBooks Online?

Edit answer
Your answer:
Apps > Search app > Get app now

 Q10

 Which 2 QuickBooks Online Payroll subscription levels include QuickBooks Time?

Edit answer
Your answer:
Premium
Elite

 Q11

 Which 3 of these features are benefits of QuickBooks Online Payroll Premium?

Edit answer
Your answer:
Same-day direct deposit
Access to QuickBooks Time Premium
Expert review

 Q12

 Where would he navigate to make this change?

Edit answer
Your answer:
Gear > Custom form styles > Edit template > Emails > How your invoice appears in emails

 Q13
  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

 Q14

 How can you switch from Accountant view to Business view in QuickBooks Online?
Edit answer
Your answer:
Gear icon > Switch to Business view

 Q15

 In the Overview tab of the Client List, what filter can be applied to only show clients
assigned to a specific team member?
Edit answer
Your answer:
Lead

SECTION 3 – 93%

 Q1

 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

 Q2

 The statement can be downloaded in which 2 file types?

Edit answer
Your answer:
PDF
CSV

 Q3

 What are the 3 types of user permissions you can choose from in QuickBooks Online
when adding new team members to your firm?
Edit answer
Your answer:
Custom access
Basic access
Full access

 Q4

 Which filter can be used to find a specific project when in the Work area?
Edit answer
Your answer:
Project name

 Q5

 After finishing a project, how do you change the status in QuickBooks Online
Accountant?
Edit answer
Your answer:
Work > Status dropdown > Done

 Q6

 In which 2 ways can you create a customized template for a project?

Edit answer
Your answer:
Create a template from scratch
Duplicate a QuickStart template

 Q7

 Where would your client navigate within QuickBooks Online to see documents that you
have shared with them?
Edit answer
Your answer:
My accountant > Shared documents

 Q8

 By posting to Undeposited Funds, you can create a single bank deposit for multiple
payments, making it easy Blank 1 .
When receiving a payment, make sure Blank 2Edit answer

Your answer:
Blank 1 -  to match your bank register with your bank statement
Blank 2 -  the "Deposit to" account is Undeposited Funds

 Q9

 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

 Q10

 Which user has access to the Voided/deleted transactions tool?

Edit answer
Your answer:
Accountant user

 Q11

 What are 2 tools you can use to identify possible issues in a QuickBooks Online
Company?
Edit answer
Your answer:
Voided/deleted transactions tool
Transaction Journal report

 Q12

 Which feature helps streamline the purchasing process once a customer approves an
estimate?
Edit answer
Your answer:
Create purchase order from an estimate

 Q13

 What are 4 status types that can be assigned to an estimate in QuickBooks Online?
Edit answer
Your answer:
Accepted
Rejected
Pending
Closed

 Q14

 When using the Copy to purchase order feature from within an estimate, where do you
need to turn on the Use purchase orders setting?
Edit answer
Your answer:
Account and Settings > Expenses > Purchase orders

 Q15
  What are 2 ways to start a Credit memo in QuickBooks Online?
Edit answer
Your answer:
+ New > Credit memo
Sales > All Sales > New Transaction > Credit Memo

 Q16

 Which feature in QuickBooks Online can Liz use to easily provide this information to the
customer?
Edit answer
Your answer:
Statement
SECTION 4 – 100%

 Q1

 What are 2 ways to use a vendor credit in QuickBooks Online?

Edit answer
Your answer:
Apply it to an existing bill
Hold on to it and apply it to a future bill

 Q2

 What are 2 scenarios in which you would use a Bank deposit transaction?
Edit answer
Your answer:
When your client wants to group customer payments into a single deposit transaction
When your client wants to record an SBA loan amount received

 Q3

 What type of transaction in QuickBooks Online allows her to record the sale and the
payment on a single screen?
Edit answer
Your answer:
Sales receipt

 Q4

 What type of transaction is recorded when a customer pays via a payment link?
Edit answer
Your answer:
Sales receipt

 Q5

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

Edit answer
Your answer:
Only Accountant users can create adjusting journal entries

 Q6

 Which 2 problems does the Pay down credit card workflow solve for clients?
Edit answer
Your answer:
It uses language that non-accountants can understand
It ensures that payments to credit card accounts are categorized correctly

 Q7

 The Pay down credit card feature can be found in which area of QuickBooks Online?
Edit answer
Your answer:
+ New from the left-hand navigation

 Q8

 Where should your client go to record a Transfer?

Edit answer
Your answer:
+ New > Transfer

 Q9

 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:
Via the mobile app
File upload
Forwarding by email

 Q10

 To make receipt forwarding active, you'll need to enable a unique email address within
the client's QuickBooks Online. Where would you navigate to enable this feature?
Edit answer
Your answer:
Banking Center > Receipts > Forward from email

 Q11

 When an excluded transaction is reinstated, which tab will it appear under?

Edit answer
Your answer:
For review

 Q12

 Where will the current transactions appear if Auto-add was not selected when creating a
bank rule?
Edit answer
Your answer:
For review tab

 Q13

 What is the default filter that is automatically applied when reconciling an account in the
Reconciliation dashboard?
Edit answer
Your answer:
Date

 Q14

 Which report can be viewed to provide some guidance on how you can resolve
transactions that are causing discrepancies when reconciling an account?
Edit answer
Your answer:
Reconciliation Discrepancy report

 Q15

 Where would you navigate to undo a prior reconciliation as an Accountant user?

Edit answer
Your answer:
Reconcile > History by account > Down arrow > Undo

 Q16

 Which of these recurring transactions could be used if an accountant needs to set up a

monthly recurring prepaid expense?
Edit answer
Your answer:
A recurring journal entry
SECTION 5 – 93%

 Q1

 How many ungrouped tags can be created in QuickBooks Online Plus?

Edit answer
Your answer:
Unlimited

 Q2

 Where would you navigate in QuickBooks Online to generate a Balance Sheet report?
Edit answer
Your answer:
Reports > Business overview > Balance Sheet

 Q3

 What feature in QuickBooks Online allows users to create custom charts to visualize
financial data?
Edit answer
Your answer:
Performance Center

 Q4

 Which report would you use to show top-selling and/or worst selling products?
Edit answer
Your answer:
Sales by Product/Service Summary

 Q5

 Where can you select this option for them?

Edit answer
Your answer:
Customize > General

 Q6

 How would she accomplish this?

Edit answer
Your answer:
Copy an existing template under Management reports

 Q7

 Which are 2 open issues that you can view from the Transaction review tab?
Edit answer
Your answer:
Undeposited funds
Unapplied payments

 Q8
  What are the 3 status options?
Edit answer
Your answer:
Waiting
To do
Done

 Q9

 What are 2 limitations of the Reclassify transactions tool?

Edit answer
Your answer:
You cannot change the payment bank account when reclassifying expense transactions
You cannot change the account for inventory adjustments

 Q10

 What are the correct steps to access and begin reclassifying transactions?
Edit answer
Your answer:
Accountant Tools > Reclassify transactions

 Q11

 When can an Accountant user use the Write off invoices tool?
Edit answer
Your answer:
When a customer has outstanding invoices that will not be paid

 Q12

 What are the correct steps to begin the Write off invoices process?
Edit answer
Your answer:
Accountant Tools > Write off invoices

 Q13

 At year end, what 2 reports can be used to verify that all bank and credit card accounts on
the balance sheet have been reconciled?
Edit answer
Your answer:
Reconciliation Report
Balance Sheet Detail

 Q14

 Which 3 items are included in the substantiation requirements?

 Edit answer
Your answer:
Date placed in service
Vehicle type
Mileage

 Q15

 Can your client make changes, and if so, how would you track any changes to
transactions within 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

 Q16

 How can you find the Exceptions to Closing Date report?

Edit answer
Your answer:
Reports > For my accountant