ACCOUNTING 2021 Quick Books Advanced Certification Answers. 100% Q&A Pass Rate

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ACCOUNTING 2021 Quick Books Advanced Certification Answers You have accepted an email invite to be an accountant user for a client’s company and then log back into QuickBooks Online Accountant. ... How do you know that the process has been successful? • You see the client in your client list You can modify the configuration of your clients QuickBooks online company by going to the Gear icon and clicking account and setting. What categories of information will you find in the company section of the account and setting screen? (NOT Account Settings) Your client has asked for your help to set them up with QuickBooks Payments. What information will they need to sign up? Identify all the information they’ll need from the list below. In the Advanced Tab of Account and Settings in QuickBooks Online you can enable multi-currency. Which of the options are correct about this feature, emphasizing it should be used with caution? Select all the options that are correct. (NOT THE Answer It must be turned OFF before importing any data) Here are some steps for one of the ways of importing a products and services list into QuickBooks Online. 1.Open Your clients Quickbooks Online Company, 2. Select Gear Icon, 3. Under Tools Column, select Import Data, 4. Select Products and Services, 5. Click Browse and Find the Excel or CSV file and Click Next, 6.__________ , 7. Click to import. Your client has asked you to show them how to add a new customer to an already existing customer list. Select one way you can do this in Quickbooks Online. You are working with a QuickBooks Online Plus client on setting up their customer list. Which is the best choice from the list below? First we need to download the Customer list to our local computer, Go to the Sales Center and select the Customer tab, Click the New Customer drop down on the top right, Select Import Customers, Click Browse and find Terri’s Customer list downloaded in step 1Click Next______________ Which option completes the steps for importing a customer list? Lets look at the initial steps you should take to link a bank account to Quickbooks Online. Go to the Banking Center in the left hand navigation, If it’s the first time you’ve been here, Click1_____otherwise select 2______, Select your Bank, then use the same username and password to login as you would if banking online. What options from the list below would correctly complete the missing instruction 1 and 2? You’re about to start preparing a tax return for your client. ProConnect Tax Online can be linked to QuickBooks Online for income tax reporting. Where would you navigate to begin the process? Select all the options that apply. A great feature of QuickBooks Online is that there are other lists available to add to expand the functionality of QuickBooks Online. Where would you go to set up an additional list? Look at the following initial steps for adding a new team member to your QuickBooks Online Accountant account. Login to Quickbooks Online Accountant, Click on________in the account left hand menu, Click On Add User, Enter the team members under name and add their email address, Click on Next. What option fills in the gap in step 2? You’ve added a subcontractor to a clients Quickbooks Online Company as a vendor. They also need to be added as a user so they can record the time they spent working for the client. Click on new, Select the _____ radio button, Click on Next, In the employee or vendor select Add new and type the workers name into the text box, Shes already categorized as an employee in the drop-down list, Select Quick Add. What option would you need to select in the manage users page, step 2, within Quickbooks Online? Let’s take a look at a few common client pitfalls. You have a client business that uses accrual-basis invoicing and an Accounts Receivable workflow. They use the Banking screen to enter a deposit for a check they received as income. What problem will this cause? Let’s meet another client with a problem. Andy calls because he can’t seem to match up his deposits on the bank statement with his payments received in the check register in QuickBooks Online. There are a lot more deposits in QuickBooks Online than there are in the bank statement! What do you think Andy may have got wrong here when he recorded the payments in QuickBooks Online? What’s the main benefit of using delayed charges? What are some of the benefits of QuickBooks Online’s Online Invoicing? Which of these would be a suitable situation for recording a new deposit transaction like we’ve just seen? When would you use an adjusting journal entry? Account: To account for depreciation of an asset, like a company car or van over several years, To account for a loan payment due in the next financial year What defines a transfer like the one we’ve just seen? Which of the options would represent the best definition of the benefits of customer statements? You have a client whose business uses accrual-basis invoicing and accounts receivable workflow. They use the Banking screen to enter a deposit for a payment check, which they post manually to an income account. What problem will this cause? You need to add a Delayed Charge for a new client who invoices at the end of the month. Select one way you can do this in the client’s QuickBooks Online company. One weekend your client gets three separate payment checks from three separate customers for work they’ve invoiced. Why is it preferable to select Undeposited Funds, instead of a bank account, for each individual payment? When would you use a deposit transaction? Select all the options that are correct. Your client has asked you to help him determine whether he’s recorded a deposit transaction correctly. What’s the quickest way to see the underlying effect of the deposit on the general ledger? Your client receives only checks or cash from customers. Your client would like to use QuickBooks Online to start accepting credit card payments using sales receipts. Once QuickBooks Payments is enabled, how would you show your client how to do this? Where would you start to create a recurring sales receipt with credit card payment, provided you had an open authorization? You have a client who has a problem with their QuickBooks Online books which they need your help with. Over a period of a few months, they’ve entered a large number of item-based transactions that should have been posted to an expense account and which need to be adjusted but they cannot use the reclassify transactions accountant tool. Is this a situation appropriate for using a journal entry in QuickBooks Online and why? You must choose the correct answer AND the correct reason. tax liabilities for sales made that month. Where should they start the process? Which of the transactions and tools in the list are Posting transactions? What information is shown on a Customer Statement generated by QuickBooks Online? QuickBooks Online has many features that can help you more easily link up your banking information to your QuickBooks Online company. Which of these options are features? Which is the best example of when you might need to exclude some transactions from a bank feed? Which of the recurring transactions shown here could be used if Terri needed to set up a monthly recurring charge including payment? Which Tab in QuickBooks Online Banking shows the bank data that has not yet been accepted into QuickBooks Online? Open the For Review tab Find the row with the suggested match Click the row to expand it Select the blue _____________ link to view the transaction How would you get to the deposit transaction for a suggested match within bank feed? Once satisfied that the _____________ is associated with the correct QuickBooks Online transaction, click Match in the Action column. What option from the list correctly completes the description of how to match an expense or payment? Select the option that correctly completes the sentence. Your client has noticed a transaction that is duplicated in the bank feed and is asking for your advice. How would you respond? Where would you find the options to see the payee for an expense if you were looking for duplicates to exclude? Which of the statements here is correct about bank rules? Select all of the correct options. Rules can be prioritized over other rules, Rules can be setup to split transactions, You can create bank rules to automatically add transactions to the register Bank rules automate the data entry of bank feed activity. Which elements of bank feed activity can be automatically configured via a bank rule? Select all of the options that apply. Which of these most closely describes the purpose of reconciling a bank account? The Reconciliation Report shows the activity related to a particular reconciliation. Terri can click on expenses or deposits from the reconciliation report to view the transaction. A reconciliation report can be run by selecting ________ on the History by account screen. What do you select on the reconciliation screen to run the reconciliation report? How would you undo a reconciliation? Which of the transactions listed here could be made into a recurring transaction? Select as many as are correct. Which of these transactions for a furniture store should be made into a recurring transaction? You need to help your client set up a new recurring expense transaction. Which are the correct steps to begin the process in QuickBooks Online? Choose the option that matches all the reports correctly? Examples one: What condition is my business in? IS the business able to meet its obligations? What is the working capital? Example two: How efficient is my business at converting sales into profit? Example three: Which customers owe my business money? How much, and when is it due? Example four: Which Vendors does the company owe money to? How much, and when is it due? Which report would best meet the needs of these customer requests for information? Example one: Balance Sheet, Example two: Profit & Loss Example three: Customer Detail report or A/R aging report, Example four: Unpaid Bills or A/P aging report. Based on this A/R Aging report, and the fact that Craig offers 30-day terms, whom would you advise Craig to contact for immediate payment? The report can help Craig get on top of who has gone beyond his terms and still owes for the work he’s done. If he runs the report regularly, he can see who is immediately beyond the 30-day terms he specifies on his invoice, and send a reminder on day 31 to keep on top of his debtors. Based on this A/P Aging report, and if all vendors offer 30-day terms, whom would you make payment to first? PG&E If Craig runs the report regularly, he can see potential issues before they happen and take steps. For instance, you may have noticed there are three significant bills that will need to be paid in the next few weeks. Has Craig anticipated this and what will be the effect on his liquidity of paying these bills. The Reports Center in QuickBooks Online has three tabs: Your client wants to understand the difference between cash based and accrual based reporting. Which is the best definition of cash based reporting? These reports display the incurred date is the bill date. What type of reporting is being described here? As with all business owners, you want to have a clear snapshot of how you are doing financially. Reports can provide a valuable insight into which of the following: Which QuickBooks Subscription level or levels offer Sales reports that can be run to show location or class? The A/R Aging Summary report, available in the __________ lists each _____________ with an open balance. It lists the open invoices in different columns based on whether they are curr’s been overdue, 30, 60, and 90+ days. Which options below complete the statement? The ____________ lists each customer with an open balance. It lists the open invoices in different columns based on whether they are current or how long it’s been overdue, 30, 60, and 90+ days. What kind of report is being described here? You have a deadline approaching for one of your clients and you can’t remember exactly when it is. You need to get organized so you can see the deadline straight away. How do you do this? The Work functionality in QuickBooks Online enables you to increase organization and efficiency. How does it do this? A client, CarzRus owned by Harry Wu has just completed its first month in business and is using QuickBooks Online. Harry has called and asked if you can reconcile and close his books next Tuesday, the end of the month. Where would you start to create a project and task for this in QuickBooks Online Accountant? Which of these statements is correct when creating a client request in QuickBooks Online Accountant? Select each of the options that is true. How do you change the status of a project? When could you use the Reclassify Transactions tool? Select all that you think apply. When might you need to write off an invoice? Select as many options as are viable. When do you think you might need to run a Trial Balance for a client? Select all the options that apply. What tasks would you need to complete before closing the books? A key year-end task is verifying that client balance sheet accounts are reconciled. Employee Loans or Unearned Income, need to have supporting detail reports showing what makes up the ending account balance. _____________ should match payroll taxes calculated for the period and paid in the next period. Which option completes the sentence? You can find the link to the Voided/Deleted Transactions tool by selecting the ___________________. Which option correctly completes the sentence? You need to help a client with some problem transactions that may not have been recorded properly. Why would you use the reclassify transactions tool? Select the correct options from the list. Where would you find the link to reclassify a transaction? Why might you want to use the write off tool? Select each correct option in the list. The Reclassify Transactions tool can be used when many transactions have been _____________ causing financial information to be inaccurate. This can be troublesome when you’re trying to close the books at year end. Which option correctly completes the sentence? After selecting Write Off Invoices in the Accountant Toolbox, how do you find the invoices you need to write off? When do you think you might need to run a Trial Balance for a client? Select each of the appropriate options. The QuickBooks Online Trial Balance function has two components which determine how it’s used. One is the Working Trial Balance tab, which gives you an opportunity to review a client’s account balances, make adjustments, attach supporting documentation, add notes. You can also see prior year balances and track changes. To close a clients books you need to follow the steps shown here. 1, Select Close Books from the accountant toolbox 2, Click the pencil icon within the accounting section 3,____________ 4, Enter closing date 5, Select allow changed after viewing a warning and entering password from the drop down menu 6, Enter a pasasword and confirm password 7, Click save. What is the correct option for step 3? A key year-end task is verifying that client balance sheet accounts are reconciled. Employee Loans or Unearned Income, need to have supporting detail reports showing what makes up the ending account balance. _____________ should match payroll taxes calculated for the period and paid in the next period. Which option completes the sentence? You can find the link to the Voided/Deleted Transactions tool by selecting the You need to help a client with some problem transactions that may not have been recorded properly. Why would you use the reclassify transactions tool? Select the correct options from the list. Where would you find the link to reclassify a transaction? Why might you want to use the write off tool? Select each correct option in the list. The Reclassify Transactions tool can be used when many transactions have been _____________ causing financial information to be inaccurate. This can be troublesome when you’re trying to close the books at year end. Which option correctly completes the sentence? After selecting Write Off Invoices in the Accountant Toolbox, how do you find the invoices you need to write off? When do you think you might need to run a Trial Balance for a client? Select each of the appropriate options. The QuickBooks Online Trial Balance function has two components which determine how it’s used. One is the Working Trial Balance tab, which gives you an opportunity to review a client’s account balances, make adjustments, attach supporting documentation, add notes. You can also see prior year balances and track changes. The other component is… To close a clients books you need to follow the steps shown here. Select Close books from the account toolbox, Click the pencil icon within the Accounting section, _____________, Enter a closing date, Select Allow changes after viewing a warning and entering password from the drop down menu, Enter a password, and confirm password, Click Save. What’s the Correct option for step 3? Look at the steps listed here for closing a clients books. Select the Accountant Toolbox, Select Close books from the accountant Toolbox, select the pencil icon for accounting section, select the box next to close the books. Which option is correct for step 5? How would you navigate from a client’s QuickBooks Online client company Dashboard to the Exceptions to Closing Date report? Select all methods that are correct. Which subscriptions would suit each client, based on the information in the client interview sheets? How much do you save for the lifetime of their subscription through the wholesale discount? Sometimes a selection of apps may be appropriate to meet a client’s needs. Now you’ve seen what Ronny’s problems are, you can help him by considering the properties that appropriate apps would need in order to help him solve those problems. Look at the different types of apps below, which would benefit Ronny, given some of the problems he’s facing? Managing inventory and avoiding out-of-stock situations is critical to the success of this type of client. What type of client does this best describe? A key part of establishing the needs of a potential client and matching them up with the appropriate QuickBooks Online solution is to recognize the type of business. What kind of business is described here? Managing inventory and avoiding out-of-stock situations is critical to the success of _____________customers. How might you get lists and possibly transactions into a new QuickBooks Online company? Select each correct option. You have a client who needs a QuickBooks Online solution that includes tracking for sales and sales tax. Which subscription level in QuickBooks Online would you recommend? _________________ focuses on tracking business expenses and mileage for a Schedule C entity. This subscription contains invoicing, but does not track accounts receivable or sales tax. Therefore, this subscription might not meet the needs of, say, a growing service or product based business. Which QuickBooks subscription is being described? A client subscribed to QuickBooks Online directly when their company began. You offer to include the QuickBooks Online subscription with your monthly price. How would you describe the billing process for this arrangement? Choose the correct description from the options below. How can you view and research the different approved apps available, right from QuickBooks Online Accountant? Select each of correct option. Your client has asked some questions regarding Apps in the QuickBooks App Center. How would you respond? Choose the correct response from the options below. To be listed in the QuickBooks App Center, apps must ________________. Which option correctly completes the sentence? Review Answers Submit section • Q1 • You want to add a new Product and Services entry to your client’s QuickBooks Online company. The service is installation of a server but doesn’t include the cost of the hardware. Here are some steps for getting the job done. 1. Select the Gear icon, select Products and Services, then select New 2. _________________ 3. In the Name field, type 'Server installation' 4. In the Sales information field, type 'Server installation' 5. Sale price/rate is $1250 6. In the Income Account drop-down select Service/Fee Income 7. Select Save and close Which of the options below correctly fills in Step 2? • Q2 • Your client doesn’t want to pay a monthly fee for their QuickBooks Payments merchant account. What other option is available to them, and where in QuickBooks Online can they sign up for QuickBooks Payments? • Q3 • What would a client select in their Manage Users screen to give their worker access to create invoices, but not write checks in their QuickBooks Online company? • Q4 • The Chart of Accounts lies at the heart of a QuickBooks Online company. Which 5 of the following statements are true about the Chart of Accounts, how to make changes to the Chart of Accounts, and how products and services are linked to the Chart of Accounts? • Q5 • To set up a new bank feed or link to a bank account in a client’s QuickBooks Online company you should go to the ___________. If it’s the first time you’ve been here, select Connect, otherwise select Add account. Which option completes the statement? • Q6 • A great feature of QuickBooks Online is that there are other lists you can utilize to make it easier to fill in forms. Where would you go to find these lists? • Q7 • Your client has asked you to turn on warnings for duplicate check and bill numbers in their QuickBooks Online company. Take a look at the steps below. 1. ______________ 2. Under Your Company, select Account and Settings 3. Select the Advanced tab 4. In the Other preferences section, select the option to warn if duplicate check number is used and warn if duplicate bill number is used 5. ______________ Starting at the QuickBooks Online Dashboard, which option would complete the following steps? • Q8 • QuickBooks Online has some great features. Clients can use Online Invoicing, which will track when they’ve been viewed and paid. Online Invoicing even allows for customer queries via online messages directly linked to the invoice. You now need to enable this feature in the new client company you’re setting up. Take a look at the steps below. 1. Select the Gear icon, and select Account and Settings, under the Your Company column 2. _____________ and scroll down to the Online delivery section 3. _____________ to ensure that Attach invoice as pdf is unchecked Can you identify the missing steps? • Q9 • Where can you go in QuickBooks Online to import a list of products and services? • Q10 • As part of understanding your client’s needs, you should find out what their sales tax requirements are for their business and locality. What 5 pieces of information from this list are needed to set up Sales Tax up for a client in QuickBooks Online? • If you want to give one or more of your employees access to Your Practice, what types of user permissions can be set up? • Q12 • Your client has moved and needs you to modify the business address of the company in QuickBooks Online. Take a look at the steps below. 1. Sign in to your QuickBooks Online Accountant account 2. _________________ 3. You’ll see the client company dashboard 4. _________________ 5. Select Account and Settings 6. Select the Pencil icon in the Address section of the Company tab What are the missing steps to get you to the screen to edit the address for your client? • Q13 • A small business owner already has an Intuit ID and is going to set up their own QuickBooks Online company. Below are a series of steps for setting up a new QuickBooks Online company. 1. Go to QuickBooks.com 2. Select the appropriate subscription level 3. Select Sign in 4. ________________ 5. Select Sign in Can you identify the missing step 4? • Q14 • Below are a series of steps for accepting an invitation from the client to become their accountant user. 1. Open the email account you use for your Intuit ID 2. You will see an invite from the client company 3. Select the Accept button to accept the invitation 4. ________________________ and you’ll see a Success! box 5. Select Continue Can you identify the missing step? • Q15 • Look at the following 2 statements: Statement 1 - “QuickBooks Online _____________ is the do-it-for-me option; a complete payroll service with a team of US-based payroll experts to take care of payroll for your client.” Statement 2 - “You can also link up ____________ with QuickBooks to simplify workflow and save yourself a significant amount of time. You’ll benefit from a seamless, end-to-end experience that translates a client’s QuickBooks Online books into a tax return.” Identify the products that fit in the spaces to correctly complete the statements. • Q16 • Where would you go to add a new vendor or find the link to import a vendor list into QuickBooks Online? Choose the most viable method from the options below, although other methods may be available. • Q17 • You’ve been asked to add a new customer for your client in their QuickBooks Online company, so, you go to the Sales Center and select the Customer tab to begin. As this is the first customer for your client you are taken straight to an easy entry screen. Take a look at the steps that follow: 1. You enter the customer name, phone number and email from the business card you’ve been given by the client 2. ____________________ 3. You now want to edit this customer’s details to add some further information 4. Select the customer name from the customer list 5. Select the Edit button in the top right 6. This customer is not taxable and you need to enter their reseller number. Select the Tax info tab and enter their reseller number 92-12345 in the Exemption details 7. ___________________ and set their preferred payment method to Credit Card 8. Select Save Now select the missing steps. Submit section Review Answers Submit section • Q1 • Select the true statement about journal entries in QuickBooks Online. • Q2 • When would you use the Add other funds to this deposit grid in a Deposit Transaction? Identify the 3 correct options below. • Q3 • You have a client business who uses invoicing, the Accounts Receivable workflow and they use the Banking screen to record a customer payment received. They select an income account, and then select Add. What 2 problems will this cause? • Q4 • Look at these two sentences about Undeposited Funds. 1. By posting to Undeposited Funds, you can create a single bank deposit for multiple payments, making it easy ___________. 2. When receiving a payment, make sure _________________. Which of the options below correctly fills in the blanks? • Q5 • Which 2 of the transactions and tools in the list are Posting transactions? • Q6 • What 3 types of customer statements can be generated by QuickBooks Online? • Q7 • Which option has the correct information about how a delayed charge is used, and how it is created and linked to an invoice? • Q8 • Your client wants to transfer $500 from their checking account into a savings account to cover tax liabilities for sales made last month. Where should they start the process? • Q9 • Clients can take payments from their customers’ credit cards via Online Invoicing if they have QuickBooks Payments set up. How does the customer interact with the invoice to access credit card payment features? • Q10 • What are 4 benefits of the Online Invoicing feature within QuickBooks Online? Review Answers Submit section • Q1 • Look at the following process for matching and and adding deposit transaction from a bank feed: 1. Select the line for that entry and you’ll see more information in the row that expands 2. Select the Deposit link among suggested match(es) to view the deposit transaction 3. Hit Cancel in the bottom left and you’ll go back to the banking area 4. Now that we’re satisfied that this is the right banking activity matched to the right QuickBooks Online Transaction, we can ______________. Which option correctly completes the final step? • Q2 • Your client wants to create a bank rule that has priority over other bank rules and automatically adds a transaction into the QuickBooks Online register. Is this possible? • Q3 • Read the following statement about recurring transactions in QuickBooks Online and the suggested steps to create one. Statement: “Recurring transactions in QuickBooks Online can be set up to manage any of the first transactions in any workflow, like sales receipts, invoices, bills, journals, checks, deposits, or expenses”. Suggested steps: 1. Select the Quick Create icon 2. Select Recurring transactions 3. Select New 4. Now choose Expense as the new Transaction Type from the drop-down list and hit OK 5. On the new screen, enter Sult Advertising monthly fees as the template name. Best practice is to list the “Name” (Vendor/Customer/Employee) in the Template name. This makes it easier to identify what Names have recurring templates 6. As the type, make it Scheduled. Which is true? • Q4 • Which 3 of the statements below are correct regarding reconciling a bank account in QuickBooks Online? • Q5 • What 2 reasons from the options shown here might mean a transaction needs to be excluded in bank feeds? Submit section Review Answers Submit section • Q1 • As with all business owners, you want to have a clear snapshot of how you are doing financially. Reports can provide a valuable insight into which 3 of the following? • Q2 • Your client wants to understand the difference between cash-based and accrual-based reporting. Which is the best definition of cash-based reporting? • Q3 • Which report would you run to see a list of each customer with an open balance and columns for the age of open balances? • Q4 • The ____________ lists each customer with an open balance. It lists the open invoices in different columns based on whether they are current or how long it’s been overdue, 30, 60 and 90+ days. What kind of report is being described here? • Q5 • Which 4 of these statements about the QuickBooks Online Reports Center are correct? • Q6 • Which QuickBooks subscription level or levels offer Sales reports that can be run to show location or class? • Q1 • Which 2 of these statements are correct when creating a client request in QuickBooks Online Accountant? • Q2 • How do you change the status of a project in QuickBooks Online Accountant? • Q3 • QuickBooks Online Accountant allows you to request information from clients. Which of the following 3 statements are accurate? • Q4 • The Work functionality in QuickBooks Online enables you to increase organization and efficiency. Can you identify 3 ways it does this from the options shown here? • Q5 • Look at these steps for creating a project and a task in QuickBooks Online Accountant: 1. _________________ 2. Select Create project in the top right 3. Name the project Year End 4. Select the Client and enter four weeks from now as the due date 5. Select Save 6. Select your newly added Year End project 7. _________________ 8. Type in the Task name – Bank reconciliation and close books 9. Due date – two weeks from now 10. Select Save Which option identifies the right steps for 1 and 7? • Q1 • Taking care of pay reports for employees and subcontractors is a key task when preparing for year end. Which of the 2 forms below would need to be sent? • Q2 • What 2 options could you use to navigate from a client’s QuickBooks Online company dashboard to the Exceptions to Closing Date report? • Q3 • Which 4 of the following statements about the Trial Balance function in QuickBooks Online are true? • Q4 • You can find the link to the Voided/Deleted Transactions tool by selecting the ___________________. Which option correctly completes the sentence? • Q5 • Is it possible for a client to change transactions in a QuickBooks Online company if the books have been closed with a closing date password? If so, how would you track any changes to transactions within the closed period? • Q6 • Your client, Client A, has a problem. He has a number of invoices that have not been paid by the customer after the customer became insolvent. Another client, Client B, needs to adjust invoices because of small over payments by the customer on a series of invoices dating back six months. Which client or clients would need to use the Write off invoices feature of QuickBooks Online to get their books corrected, and can they perform the task themselves? Select the option that has the correct answer for both parts of the question. • Q7 • When would you need to reclassify transactions and how would you do it in QuickBooks Online? Select the option that answers both parts of the question correctly. • Q1 • Managing inventory and avoiding out-of-stock situations is critical to the success of this type of client. What type of client does this best describe? • Q2 • You have a client who needs a QuickBooks Online solution that includes tracking for sales and sales tax. Which subscription level in QuickBooks Online would you recommend? • Q3 • Which subscription option, if any, includes online banking, access from any device at any time and integration with a wide range of apps? • Q4 • Which 2 statements regarding QuickBooks Online Apps are true? • Q5 • Which 2 statements are true of wholesale billing for QuickBooks Online? 17 Questions Estimated time: 43 mins View feedback Retry section Where did I go wrong? Not quite there yet. You might want to go back over the module before you try the test again. Revisit learning Section 2 Supporting your small business clients 10 Questions Estimated time: 25 mins View feedback Retry section Where did I go wrong? Almost there! Just brush up on these topics before you try the test again. • Identify how to create a delayed charge • Identify common client errors caused by poor workflow • Describe why a customer statement is useful • State why it’s good practice to use the Undeposited Funds Account Revisit learning Section 3 Banking and tools 5 Questions Estimated time: 13 mins View feedback Retry section Where did I go wrong? You’re close. Take another look at these topics before you try the test again. • Describe how to undo a bank reconciliation • Identify when to create a simple bank rule • State when you might use recurring transactions Revisit learning Section 4 Reports 6 Questions Estimated time: 15 mins Section PASSED Submitted Section 5 Managing your work 5 Questions Estimated time: 13 mins View feedback Retry section Where did I go wrong? You’re close. Take another look at these topics before you try the test again. • Know how to add an attachment to a client request • Recognize how to change the status of a task • Describe how the Work functionality can increase organization and efficiency Revisit learning Section 6 Preparing clients’ books 7 Questions Estimated time: 18 mins View feedback Retry section Where did I go wrong? You’re close. Take another look at these topics before you try the test again. • State how to set a password on closed books • Describe how to access the Closing Date Exception log • State why you might need to write off invoices • Know how to reclassify transactions Revisit learning Section 7 QuickBooks solutions for clients 5 Questions Estimated time: 13 mins View feedback Retry section Where did I go wrong? Almost there! Just brush up on these topics before you try the test again. • Describe the billing options available for pricing • Explain the benefits of QuickBooks-approved apps [Show More]

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