Quick Books – Test. Section 8 – Preparing Client’s Books. Questions and Answers. 90% Pass rate.

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QuickBooks – Test: Section 8 – Preparing Client’s Books 1.) You can find the link to the Voided/Deleted Transactions tool by selecting the ________. a. Accountant Toolbox 2.) Which Accounta... nts Only Tool allows for categorizing a couple of transactions or a large batch of transactions in only a few clicks? a. Reclassify Transactions 3.) In the Reclassify transaction screen, which 2 elements of a transaction can be reclassified? a. Account & Class 4.) What 2 options could you use to navigate from a client’s QuickBooks Online company dashboard to the Exceptions to Closing Date report? a. Accountant Toolbox > Accountant Reports > For My Accountant b. Accountant Toolbox > Management Reports > Business Overview c. My Accountant center via the left navigation > Management Reports > Business Overview d. Reports center via the left navigation > For My Accountant 5.) 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? a. Yes, but only if they know the password and there’s no way of tracking changes b. No. Even if they know the password, they can’t change transactions on or before the closing date. Only the accountant can track changes c. Yes, but only if they know the password and changes are flagged in an Exceptions to Closing Date report d. Yes, they can change even without the password and changes are flagged in an Exceptions to Closing Date Report 6.) What 2 options could you use to navigate from a client’s QuickBooks Online company dashboard to the Exceptions to Closing Date report? a. A Closing date has not been set in the company b. The Accountant user does not have the required permissions to view the report c. The Exceptions to Closing Date report is not available in a Simple Start subscription d. The Audit Log is not enabled 7.) Once the Prep for taxes screen has been reviewed and the data is ready to hand off to the tax preparer, which 3 tax options are available? (Select all that apply) a. Create new return b. Update an existing return c. Make adjustment d. Add note e. Export CSV file f. Add Attachment 8.) Which 3 are reasons a bookkeeper might use the Prep for taxes tool to ready their client’s books for the tax return? (Select all that apply) a. Ensure that all Balance Sheet accounts have been reconciled to a supporting document b. Make notes to remind them of important details of an account balance c. To create a period copy of their data d. Make and approve adjusting journal entries to record accruals or depreciation e. To migrate their data to QuickBooks Desktop 9.) Why might an Accountant user not see the Exceptions to Closing Date report in a QuickBooks Online company? a. A Closing date has not been set in the company b. The Accountant user does not have the required permissions to view the report c. The Exceptions to Closing Date report is not available in a Simple Start subscription d. The Audit Log is not enabled Section 4 – Managing your Clients and Work 1.) Dianne Doolittle wants to download an itemized invoice for the QuickBooks Online subscriptions on her wholesale billing account for last month. The statement can be downloaded in which 2 file formats? (Select all that apply) a. XLS(X) b. CSV c. JPEG d. PDF e. DOC 2.) Which team access level gives the user view only access to QuickBooks Online Accountant firm information, but no access to team and subscription billing and no access to the firm’s books? a. Full access b. VIP access c. Customer access d. Basic access e. Standard access 3.) How do you change the status of a project to done in QuickBooks Online Accountant? a. Select the project, select Done in the Status drop-down b. Select the project, select the Pencil icon and select Done c. Select the project, select the Edit Project link in Actions and edit the task status to select Done d. Select the project and select the Remove Task button, select amend status and select Done 4.) QuickBooks Online Accountant allows you to request information from your clients. Which 3 of the below statements are correct regarding this feature? (Select all that apply) a. Selecting Create client request on the Work screen begins the process b. Checking the Notify client checkbox means the client will be sent an email c. You can’t add attachments to a client request d. You can request documents from a non-QuickBooks Online client e. To update the status of the request, select the request, then the Status drop-down 5.) What are 3 benefits of adding non-QuickBooks Online clients to your Client List in QuickBooks Online Accountant? (Select all that apply) a. You can keep all client contact info, notes and documents in one place b. You can access all your ProConnect Tax Online clients from the same dashboard c. You can launch your QuickBooks Desktop client companies directly from the Client Dashboard d. You can create projects and tasks for non-QuickBooks Online clients in the Work tab to stay on top of important client deadlines e. You can share documents stored in QuickBooks Online Accountant with the client 6.) Navigate to ________ in QuickBooks Online Accountant, then ___ Payroll Specialist in the ________ a. Work, select, second drop-down b. Team, type, Search box c. Team, filter for, Gear icon d. Work, type, Search box Which 2 statements about setting up QuickBooks Payments are true? (Select all that apply) • It is recommended that the Master Administrator of the QuickBooks Company complete the setup • You can sign up for QuickBooks Payments from the Dashboard in QuickBooks Online • You can connect an existing QuickBooks Payments, GoPayment, or Intuit Merchant Services account to a new QuickBooks Online Company • It is a best practice for the ProAdvisor to complete and sign the QuickBooks Payments agreement on behalf of a client • You must record the receive payment for each invoice paid using the Pay Now button Which 2 team user roles have permission to view and search for apps using the Apps tab in QuickBooks Online Accountant? (Select all that apply) • Firm Master Admin • Full Access Team User • Custom Team User • Basic Team User Where can a Master Admin Accountant User view the apps connected to a client’s QuickBooks Online account from within QuickBooks Online Accountant? • Select the client from the Client List to open the Client Detail Page > Bookkeeping > View Connected Apps • Left Navigation bar > Apps > Client Apps • In the Connected Apps column on the Client List dashboard • Gear icon > Apps > Client Apps Where would you go in QuickBooks Online to see the range of default and extra lists that are available? • Sales Center, then Settings and All Lists • + New button and All Lists • Gear icon and All Lists • Sales Center, then Settings and Add Lists Which 2 are the payroll options available inside QuickBooks Online companies? (Select all that apply) • QuickBooks Online Full Service Payroll • QuickBooks Online Do-it-Yourself Payroll • QuickBooks Online Self-Service Payroll • Intuit Online Payroll for Accounting Professionals • Intuit Online Self Service Payroll What information is needed to set up sales tax in QuickBooks Online for a client who only does business in their home state? Select the 4 options you think apply. (Select all that apply) • Their company address • Whether they have any criminal convictions • Whether they travel to other countries • When their last tax period started • How often they have to file a tax return • When they started collecting sales tax for the agency Liz has set up a new employee with Standard user access but has unchecked the Payroll access box. Which part of QuickBooks Online will the new employee not have access to? • Bank register • Employees tab • Workers tab • Report Center QuickBooks Online Certification: Exam section 3 Question 1 Which 2 statements about setting up QuickBooks Payments are true? (Select all that apply) • It is recommended that the Master Administrator of the QuickBooks Company complete the setup • You can sign up for QuickBooks Payments from the Dashboard in QuickBooks Online • You can connect an existing QuickBooks Payments, GoPayment, or Intuit Merchant Services account to a new QuickBooks Online Company • It is a best practice for the ProAdvisor to complete and sign the QuickBooks Payments agreement on behalf of a client • You must record the receive payment for each invoice paid using the Pay Now button Question 2 The search box in the Client apps screen allows you to search for apps by which 2 criteria? (Select all that apply) • Name of the app • Apps you connected • Name of the client • Apps others connected Question 3 Where can a Master Admin Accountant User view the apps connected to a client’s QuickBooks Online account from within QuickBooks Online Accountant? Select the client from the Client List to open the Client Detail Page > Bookkeeping > View Connected Apps Left Navigation bar > Apps > Client Apps In the Connected Apps column on the Client List dashboard Gear icon > Apps > Client Apps Question 4 Where would you go in QuickBooks Online to see the range of default and extra lists that are available? Sales Center, then Settings and All Lists + New button and All Lists Gear icon and All Lists Sales Center, then Settings and Add Lists Question 5 Which 2 are the payroll options available inside QuickBooks Online companies? (Select all that apply) QuickBooks Online Full Service Payroll QuickBooks Online Do-it-Yourself Payroll QuickBooks Online Self-Service Payroll Intuit Online Payroll for Accounting Professionals Intuit Online Self Service Payroll Question 6 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? Go to the Gear icon and select All Lists Go to the Plus icon and choose All Lists Go to the Accounting screen and select All Lists Go to the Reports screen and select All Lists Previous Question 7 As part of understanding your client’s needs, you should find out what their sales tax requirements are for their business and locality. What information is needed to set up sales tax in QuickBooks Online for a client who only does business in their home state? Select the 4 options you think apply. (Select all that apply) Their company address Whether they have any criminal convictions Whether they travel to other countries When their last tax period started How often they have to file a tax return When they started collecting sales tax for the agency Question 8 Which 3 navigation features are missing in a Reports Only user’s view? (Select all that apply) Navigation panel Search box + New button Gear icon Help menu Question 9 Erin is excited to start adding some personal branding to her invoice template. Where should she go to start customizing her forms? Select the Gear icon > Custom Form Styles Select the Create (+) icon > Invoice Select the Gear icon > Account and Settings Select the Gear icon > All Lists [Show More]

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