Financial Accounting  >  EXAM  >  Quickbooks ProAdvisor Certifcation 2018.pdf (All)

Quickbooks ProAdvisor Certifcation 2018.pdf

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All Sections passed 2018 SECTION 1 -Review Answers - PASSED Submit section • Q1 • The Chart of Accounts lies at the heart of a QuickBooks Online company. Which 5 of the following statements ar e t ... rue 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? Your answer: To add a new account, you open the Chart of Accounts by selecting Accounting from the left navigation, then select New to open the Account window The Sales of Product Income account is a default account when inventory is turned on Uncategorized Income and Uncategorized Expense are default accounts for online banking activity If you add a new account, the category type determines on which financial statement this account will show Delete an account from the Chart of Accounts if it is not relevant to your business Edit answer • Q2 • 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? Your answer: Go to the Gear icon and select All Lists Edit answer • Q3 • 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. Your answer: Full-Service Payroll; ProConnect Tax Online [Show More]

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