Quickbooks Exam Prep Questions &
Answers
Which of the following statements is true about entering and paying bills in Quickbooks? - ANS
- If you record bills do not use write checks
Which of the following statements
...
Quickbooks Exam Prep Questions &
Answers
Which of the following statements is true about entering and paying bills in Quickbooks? - ANS
- If you record bills do not use write checks
Which of the following statements is true regarding vendor credit memos? - ANS - vendor credit
memos reduce what you owe
When should you use the items tab on a bill or check? - ANS - when you purchase inventory
parts.
You purchase something with a debit card. Place the following steps below in the order you
would perform your debit card transactions in QB's.n - ANS - 1. Open the write checks window
2. Type debit in the number field. Then enter who you paid, how much, and what it is for
(expense account)
How would you tract customers birthdates in QB's? - ANS - Add a customer field to the
customer list
How do you print "terms" to be displayed on the printed invoice? - ANS - 1. List menu >
Templates
2. Select the desired template and double-click on it
3. Click on "ADDITIONAL CUSTOMIZATION"
4. Select what to print
You've been asked to move the name of the customer in the costumer center from the top of the
list to the bottom of the list. How do you do this WITHOUT renaming the customer? - ANS -
Click on the diamond to the left of the name then drag.
Record a customer credit and apply it to the open invoice. - ANS - refund+credit > select
customer > enter date and reference amount > select the invoice save+close
What is the quickest way in QuickBooks to find an invoice from six months ago? - ANS - open
invoice > click find
How do you make an item inactive? - ANS - 1. Open item list
2. Click on the item you want to hide
3. Click the item drop-down arrow at the bottom left of the window
4. Select make item inactive
You have to set up an item for "shipping". What item type should you use? - ANS - other charge
Your company sells unique items to every customer (they never sell the same service or product)
What item(s) should you set up in QuickBooks? - ANS - set up generic item; adjust price and
description
Which of the following elements on an invoice can you NOT customize? - ANS - The amount of
information (number of characters) in each field
The bank notified you that a customer's check you deposited has bounced. What should you
NOT do? - ANS - Delete the customers payment from the deposit
What is true regarding Undepositied Funds in QB's? - ANS - It is an account used to record
payments before you deposit them
Which of the following is a possible reason for a bank reconciliation discrepancy? - ANS - The
beginning balance does not match the end of las
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