QuickBooks

QuickBooks Certification Exam Study Guide Questions And Answers Why would you hide or collapse sub accounts on a report? - To temporarily hide unnecessary detail and hide parent accounts What should you do after you click save & close on a customer credit memo? - Choose between retained as an available credit, give a refund or apply to an invoice

Quickbooks Exam Practice Questions What are settings for expenses? - Bills and expenses, purchase orders and messages What are the 4 settings for bills and expenses under expense settings - 1. Show items table on expense and purchase forms (only in PLUS) 2. Track expenses and items by customer (only in PLUS) 3. Make expenses and items billable (only in PLUS) 4. Default bill payment terms Why might you want to undo a reconciliation? - If the reconciliation was forced, meaning it was...

The order of the steps in the accounting cycle includes: - ANSWER Trial balance, adjusting entries, adjusted trial balance, financial reports What is an asset? - ANSWER What a company owns Examples of management reports for internal decision making include all of the following except - ANSWER 1120S Report Sales are recorded under cash basic accounting when: - ANSWER Cash is collected from customers Which one of the following classifications is found on Statement of Cash Flows? - ANSW...

All of the following are one of the four main categories of transactions in QuickBooks except: - ANSWER Calendar The Chart of Accounts can be accessed from which section of the Home page? - ANSWER Company To change a company name in QuickBooks, select the following form the menu bar: - ANSWER Company>My company>Edit> Which of the following file types identifies a QuickBooks Backup File? - ANSWER .QBB Which QuickBooks window allows you to add your name to the checking account...

Which of the following is true? If a customer balance is entered during the setup process, QuickBooks creates an entry using the Accounts Receivable and Uncategorized Income accounts. If a vendor balance is entered during the setup process, QuickBooks creates an entry using the Accounts Payable and Uncategorized Expenses accounts. If an inventory balance is entered during the setup process, QuickBooks creates an entry using the Inventory Asset and Opening Balance Equity accounts. All...

accounting - ANSWER The process of recording, summarizing, and presenting the financial information of a company in the form of financial statements. accrual basis of accounting - ANSWER An accounting method that requires the recording of revenue when it is earned and the recording of expenses when they are incurred regardless of cash receipts or cash payments. adjusting journal entries - ANSWER Adjustments made to accounts at certain periods of time, such as the end of the month or the en...

To memorize a report: - ANSWER Create a report > Memorize The following taxes are reported on form 941 except: - ANSWER State income taxes withheld from the employee paychecks When saving reports as a file to a disk, QuickBooks permits you to select from all of the following file formats except - ANSWER Adobe text file When creating paychecks using QuickBooks, you must deduct withholdings from employees' pay for all of the following except: - ANSWER Federal Unemployment taxes All...

Which of the following is not an input field or selection at the Add New Account window? a. Financial Statement Override b. Description c. Account Type d. Enter Opening Balance - ANSWER a. Financial Statement Override Which of the following is not an available button at the Glad you're here! page when completing the Express Start method? a. Preview Your Settings b. Create Company c. Create Chart of Accounts d. All of the choices are correct. - ANSWER c. Create Chart of Accounts ...

Chart of Accounts -ANSWER This is the name of the list of accounts the company uses as it conducts its business deits and credits -ANSWER each account in the general ledger shows all increase and decreases Accounting -ANSWER to edit account names and add account numbers, begin by clicking this option on the Navigation bar create icon > journal entry -ANSWER to enter the opening balances in the Journal Entries window ACTION -ANSWER In the Vendor window, this column is used to ...