QuickBooks Online Certification Section
6 Questions and Answers 100% Pass
Stacy wants to run reports that tell her which vendors provide the best prices on the products she
sells.
Which 2 vendor workflows in QuickBoo
...
QuickBooks Online Certification Section
6 Questions and Answers 100% Pass
Stacy wants to run reports that tell her which vendors provide the best prices on the products she
sells.
Which 2 vendor workflows in QuickBooks Online enable her to create reports with this data?
Create Bill with product/service items > Pay Bill
Create Expense with product/service items
Create Expense with account/category detail
Create Invoice with product/service items
Create Bill with account/category detail > Pay Bill
Which report should you run to list all customers who currently owe balances, and how old those
balances are?
Accounts Payable Aging Summary
Accounts Receivable Aging Summary
Balance Sheet
Trial Balance
Kathryn is concerned about her cash flow and wants to know how much she has spent with each
of her vendors last month.
Which report in QuickBooks Online would provide that information?
Accounts Payable Aging
Profit and Loss
Balance Sheet
Expenses by Vendor Summary
_________ is designed to support the most common workflows and tasks to close a client's
monthly books.
It consists of the following three workflow tabs:
__________
__________
__________
Fill in the blanks.
Month-end review, Transactions, Accountant review, Final review
Overview, Transaction review, Accountant reconciliation, Final review
Month-end review, Transaction review, Account reconciliation, Final review
Overview, Transactions, Accountant review, Final review
The first stage in the month-end process is reviewing transactions and recognizing any possible
issues.
What are the 2 open issues that can be viewed from the Transaction review tab?
Reclassified transactions
Uncategorized transactions
Transactions without payees
Transactions without accounts
Transactions with attachments
To keep track of her team, Esther has requested that the status of each task be updated in the
Month-end review tabs.
What are the 3 status options?
Open, pending, done
To do, waiting, complete
Open, pending, complete
To do, waiting, done
What are 2 limitations of the Reclassify Transactions tool?
You can't change the payment bank account when reclassifying expenses
You can't change the Classes when reclassifying expenses
You can't change the Locations when reclassifying expenses
You can't change the account for inventory adjustments
You can't change the Classes for deposit types
When should an Accountant user use the Write Off tool?
When a client has overpaid
When a client has outstanding invoices that will not be paid
When you wish to remove a duplicate transaction
When a user wants to categorize several transactions quickly
Where can you find the link to the Voided/Deleted Transactions tool?
Accountant Tools
Gear icon
+ New icon
Banking screen link in the Left Navigation Bar
What are 4 options you can access via Accountant Tools?
Reclassify transactions
Reconcile
Recurring transactions
Close books
Reports options
Audit log
My Experts
IRS guidelines require specific information to substantiate deductible automobile expenses.
Which 3 items are included in the substantiation requirements?
Vehicle type, date placed in service, and total mileage (including business, commuting,
vacation, and personal)
Vehicle type, the amount of days driven, and the total mileage (including business, commuting,
vacation, and personal)
Vehicle type, date placed in service, and total mileage (including business, commuting, and
personal)
Vehicle type, the amount of days driven, and the total mileage (including business, commuting,
and personal)
You have set a closing date with a password. Can your client make changes and if so, how would
you track any changes to transactions within the closed period?
Yes, but only if they know the password. There is no way to track changes
No. Even if they know the password, they can't change transactions on or before the closing date.
Only the accountant can track changes
Yes, but only if they know the password. Changes are flagged in an Exceptions to Closing
Date report
Yes, they can change transactions even without the password. Changes are flagged in an
Exceptions to Closing Date report
Why might an Accountant user not see the Exceptions to Closing Date report in a QuickBooks
Online company?
A closing date has not been set in the company
The Accountant user does not have the required permissions to view the report
The Exceptions to Closing Date report is not available in a Simple Start subscription
The Audit Log is not enabled
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