Section 1 100%

QuickBooks OnlineHow it works

 Q1: Which section in the New Client Checklist helps you understand your client's needs to
determine the features and solutions required?

Your answer:
Client Needs Assessment

 Q2:What are the 3 primary ways to migrate client data to QuickBooks Online?

Your answer:
Use the Import data tool
Enter data manually into the QuickBooks Online forms and check registers
Convert data from existing QuickBooks Desktop file

 Q3:What is the minimum QuickBooks Online version suitable for Brian's client?

Your answer:
QuickBooks Online Plus

 Q4: What is one difference between ProAdvisor Discount and Direct Discount pricing, apart
from who pays for the subscription?

Your answer:
Duration of discount

 Q5: Which 2 reasons could be causing this balance?

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?

Your answer:
Transaction Volume
Banking Activity
Common Issues
Company Setup

 Q7: Which 3 are benefits of using apps with QuickBooks Online?

Your answer:
They can provide additional insight into various parts of a business
They can solve industry-specific needs
They can reduce time spent on data entry

 Q8: Where are 2 places you can search for apps that work with QuickBooks Online?

Your answer:
The Apps tab in QuickBooks Online Accountant
[Link]

 Q9: Where do you go to access QuickBooks Online training materials for your clients?

Your answer:
Left-hand navigation > ProAdvisor > Benefits > Training

 Q10: What are 2 ways you can clean up her chart of accounts to reduce the number of
accounts shown?

Your answer:
Make accounts inactive
Merge duplicate accounts

 Q11: Which users will be able to see account numbers if they are enabled?

Your answer:
All users will see the account numbers.

 Q12: Before merging two sub-accounts, what do you need to check?

Your answer:
Make sure the names are spelled the same.
 Q13: What is the maximum number of characters allowed in the account number field?

Your answer:
7

 Q14 Where would you navigate within QuickBooks Online to show product/service column
on sales forms?

Your answer:
Gear icon > Account and Settings > Sales > Products and services

 Q15 What must each product/service item be mapped to?

Your answer:
Chart of accounts

 Q16 There are four item types to choose from in QuickBooks Online.

Your answer:

 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

 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)

 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

 This includes services that are provided to customers, such as an emergency service
call visit or other labor -
Service
 Q17 Which list should she edit?

Your answer:
Payment Methods

Section 2 - 93%

Review Answers
Take a minute to review your answers before you turn in your work.
Once you submit this section, you won’t be able to change your answers.

 Q1 When importing customers for the first time, which of these file types can you use to import your customer list?

Your answer:
XLSX

 Q2 Which field is required when importing vendors?

Your answer:
Vendor Name

 Q3 What does QuickBooks Online automatically create to record the balance owed when adding a vendor with a non-
zero opening balance?

Your answer:
Journal entry

 Q4 What connection method eliminates the need to provide a bank user name and password after the initial setup
process?

Your answer:
OAuth

 Q5 Where should they go to update their bank info in QuickBooks Online?

Your answer:
Banking Center > Banking tab > Select account tile > Pencil icon > Edit sign-in info

 Q6 When the Sales Tax feature is enabled in QuickBooks Online, where must you record sales tax payments?

Your answer:
Sales Tax Center

 Q7 Which 4 methods allow clients to process digital payments from customers using QuickBooks Payments?

Your answer:
 Entering payments manually as a Receive payment
Running a card through a card reader attached to a mobile device
Sending a Sales receipt to a customer via email
Taking client payment via the Pay Now button on an emailed invoice

 Q8 Where would your client navigate to view the status of a bill payment that was paid using Melio?

Your answer:
Open bill payment > View online payment

 Q9 How can an Accountant user connect an app to a client's QuickBooks Online?

Your answer:
Apps > Search app > Get app now

 Q10 Which QuickBooks Time clock-in/clock-out option is specifically designed for businesses with on-site shift
workers?

Your answer:
Time Clock Kiosk

 Q11 Which 3 of these features are benefits of QuickBooks Online Payroll Premium?

Your answer:
Access to QuickBooks Time Premium
Same-day direct deposit
Expert review

 Q12 Where would he navigate to make this change?

Your answer:
Gear > Custom form styles > Edit template > Emails > How your invoice appears in emails

 Q13 What user type is appropriate for nonprofit companies that need to provide reporting access to their board
members?

Your answer:
Reports only user

 Q14 Which statement about switching between Accountant and Business view is true?

Your answer:
Navigation labels may vary depending on whether you are in Business or Accountant 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?

Your answer:
 Lead

Section 3 - 93%

Review Answers
Take a minute to review your answers before you turn in your work.
Once you submit this section, you won’t be able to change your answers.

 Q1 If Josie pays for the subscription, what steps will she take to upgrade her client?

Your answer:
Gear icon > Subscriptions and billing > Accountant-billed subscriptions tab > Subscription actions > Upgrade

 Q2 The statement can be downloaded in which 2 file types?

Your answer:
CSV
PDF

 Q3 How does Teresa update the lead for her client in QuickBooks Online?

Your answer:
Clients > Filter > Edit leads > Select the new lead > Save

 Q4 Which filter can be used to find a specific project when in the Work area?

Your answer:
Project name

 Q5 How many tasks does QuickBooks Online allow you to assign to a project?


Your answer:
There’s no limit

 Q6 Which 2 are QuickStart templates provided in the Work area for ProAdvisors to use when setting up a new
project?

Your answer:
Bi-weekly payroll
Monthly bookkeeping

 Q7 Where would your client navigate within QuickBooks Online to see documents that you have shared with them?

Your answer:
My accountant > Shared documents
 Q8 What is the first step in QuickBooks Online that must be completed prior to recording the deposit?

Your answer:
+ New > Receive payment

 Q9 Which common workflow error can cause duplicate expenses in QuickBooks Online?

Your answer:
Creating a bill to record a vendor expense, and creating a check to the vendor for the same expense

 Q10 Which Accountant tool in QuickBooks Online helps identify transactions that may have been removed
accidentally from the company file?

Your answer:
Voided/deleted transactions

 Q11 What are 2 tools you can use to identify possible issues in a QuickBooks Online Company?

Your answer:
Transaction Journal report
Voided/deleted transactions tool

 Q12 Which feature helps streamline the purchasing process once a customer approves an estimate?

Your answer:
Create purchase order from an estimate

 Q13 What are 4 status types that can be assigned to an estimate in QuickBooks Online?

Your answer:
Closed
Pending
Rejected
Accepted

 Q14 How can you convert an estimate to an invoice?

Your answer:
Sales > Customers > Estimate > Start invoice in the Action column

 Q15 What are 2 ways to start a Credit memo in QuickBooks Online?

Your answer:
+ New > Credit memo
Sales > All Sales > New Transaction > Credit Memo
 Q16 Which 3 types of customer statements can QuickBooks Online generate?

Your answer:
Statements that show a balance forward and then all activity between two specified dates
Statements that show just open transactions

Section 4 100%

Review Answers
Take a minute to review your answers before you turn in your work.
Once you submit this section, you won’t be able to change your answers.

 Q1 What are 2 ways to access the vendor credit screen in QuickBooks Online?

Your answer:
+ New > Vendor Credit
Expenses Center > New Transaction > Vendor Credit

 Q2 In which 3 cases would you use the "Add funds to this deposit" grid in a Bank deposit?

Your answer:
When a company doesn’t record income using sales transactions (invoices or sales receipts), and wants to record
deposits directly to income accounts
When an employee reimburses the company
You receive a tax refund from the IRS

 Q3 What type of transaction in QuickBooks Online allows her to record the sale and the payment on a
single screen?

Your answer:
Sales receipt

 Q4 How many times are customers able to make a payment via a payment link before it expires?

Your answer:
One time

 Q5 Which statement about adjusting journal entries in QuickBooks Online is true?

Your answer:
Only Accountant users can create adjusting journal entries
 Q6 Which 2 problems does the Pay down credit card workflow solve for clients?

Your answer:
It uses language that non-accountants can understand
It ensures that payments to credit card accounts are categorized correctly

 Q7

1. Select the + New button from the left-hand navigation and select Blank 1 in the Other column
2. Select the credit card account that is being paid
3. Select the Blank 2 , if applicable
4. Enter the amount and the date of payment
5. Select the account the payment is being made from
6. Finally, select Blank 3

Your answer:
Blank 1 - Paydown credit card
Blank 2 - Payee
Blank 3 - Save

 Q8 Where should your client go to record a Transfer?

Your answer:
+ New > Transfer

 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?

Your answer:
Forwarding by email
File upload
Via the mobile app

 Q10 In which tab in the Banking center do bills and receipts appear after they’re added?

Your answer:
Receipts

 Q11 When an excluded transaction is reinstated, which tab will it appear under?

Your answer:
For review

 Q12 Where will the current transactions appear if Auto-add was not selected when creating a bank rule?

Your answer:
 For review tab

 Q13 Which 3 statements are correct regarding reconciling a bank account in QuickBooks Online?

Your answer:
To begin the reconcile process, you need to enter the statement ending date and ending balance from the relevant
bank statement
To view the Bank statement, select History by account
Transactions added or matched in the Banking Center are automatically marked tentatively cleared

 Q14 Which report can be viewed to provide some guidance on how you can resolve transactions that are causing
discrepancies when reconciling an account?

Your answer:
Reconciliation Discrepancy report

 Q15 Which users are able to undo a reconciliation?

Your answer:
Accountant users only

 Q16 What are 2 ways to begin setting up a recurring transaction in QuickBooks Online?

Your answer:
Gear > Recurring transactions
Select the Make recurring option at the bottom of the desired transaction

Section 5- 87%

Review Answers
Take a minute to review your answers before you turn in your work.
Once you submit this section, you won’t be able to change your answers.

 Q1 Where can you see the number of tags and tag groups created?

Your answer:
Banking > Tags

 Q2 Where would you navigate in QuickBooks Online to generate a Balance Sheet report?

Your answer:
Reports > Business overview > Balance Sheet

 Q3 Which 2 user types can access the Performance Center in QuickBooks Online?

Your answer:
Accountant users in any subscription level of QuickBooks Online
 Client users in QuickBooks Online Advanced

 Q4 Which report shows the book (purchase or cost) value of inventory items with quantity on hand?

Your answer:
Inventory Valuation Summary (or Detail)

 Q5 Where can you select this option for them?

Your answer:
Customize > General

 Q6 How would she accomplish this?

Your answer:
Copy an existing template under Custom reports and save to Management reports

 Q7 Which are 2 open issues that you can view from the Transaction review tab?

Your answer:
Undeposited funds
Unapplied payments

 Q8 What are the 3 status options?

Your answer:
Done
Waiting
To do

 Q9 In the Reclassify transactions screen, which 3 elements of a transaction can be reclassified?

Your answer:
Accounts
Locations
Classes

 Q10 Where would you go to review your client’s expense account to see if any transactions have been
miscategorized?

Your answer:
Voided/deleted transactions from Accountant Tools

 Q11 When can an Accountant user use the Write off invoices tool?

Your answer:
 When a customer has outstanding invoices that will not be paid

 Q12 Which tool in the Accountant Tools helps you clean up uncollectible balances from customers?

Your answer: Write off invoices

 Q13 Which 2 forms related to employees and contractors do you need to file at year end?

Your answer:
Form W-2
Form 1099

 Q14 Which 3 items are included in the substantiation requirements?

Your answer:
Date placed in service
Vehicle type
Mileage

 Q15 Which 2 options are benefits of using the Close books feature?

Your answer:
It keeps track of any changes made after the closing date was set to closed period transactions
It can prevent users from changing transactions in a closed period

 Q16 How can you find the Exceptions to Closing Date report?

Your answer:
Reports > For my accountant