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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?
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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?
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Your answer:
Uncategorized Expense
Retained Earnings
Q13
What is the maximum number of characters allowed in the account number field?
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Your answer:
7
Q14
Where would she navigate to assign a preferred vendor?
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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
Q3
What does QuickBooks Online automatically create to record the balance owed when
adding a vendor with a non-zero opening balance?
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Your answer:
Journal entry
Q4
What connection method eliminates the need to provide a bank user name and password
after the initial setup process?
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Your answer:
OAuth
Q5
Q6
When first setting up Sales tax for a client, what information will be prepopulated?
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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
Q10
Q11
Q12
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
Q2
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
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
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
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
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
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
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
Q16
Q1
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
Q6
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
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
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