Section 1

Class tracking is used to categorize income and expense transactions from different sectors
What are 2 options for assigning classes?
 Assign a class in Bill transactions only
 Assign one class to each row in a transaction
 Assign one class to an entire transaction
 Assign a class in Sales Invoices only
 Assign a class through the bank feeds screen
QuickBooks Online is able to keep track of charges you wish to invoice at a later date.
What are the 3 types of billable charges?
 Billable Expenses
 Billable Supplies
 Billable Time
 Delayed Charges
 Billable Customers
Craig's Landscaping took on a time and materials job for Bennie's Barbershop. Purchase
transactions for the job have been assigned to Bennie's. Craig's Landscaping just called because
there were no billable expenses available when they tried to create an invoice for Bennie's
Barbershop.
What are 2 possible causes for this issue?
 The setting to make expenses billable is not turned on
 The purchases were entered on a check screen rather than on bills
 The billable column was not checked
 The billable expenses were dated in the future
Mike's Media wants his employees to track time for the different projects they are working on.
They need to identify the type of work they are doing, i.e. design, graphics, media buying, etc.
He wants them to be able to mark the time billable, but not see the billing rate.
What 3 steps are required to accomplish this?
 Upgrade them to QuickBooks Online Advanced
 Set them up as time-tracking-only users
 Toggle on "Make expenses and items billable"
 Select the "Add service item to timesheets" setting
 Don't check "Show billing rate to users entering time"
 Make sure Products and Services are set up as two-sided items
Your client has hired a new employee to enter time for all employees using QuickBooks Online.
You want to review what has been entered to make sure it has been entered correctly.
What report would you run?
 Audit Trail
 Unbilled Time
  Time by Vendor/Customer
 Recent/Edited Time Activities
 Unbilled Charges
 Recent Transactions
Your client runs a pool-cleaning business. Many of their customers sign up for a regular weekly
clean, but only want to be charged monthly.
What feature of QuickBooks Online can help your client keep track of how much to invoice at
the end of the month?
 Estimate
 Delayed Charges
 Delayed Credit
 Sales Receipt
What’s the easiest way to add unbilled charges for a customer to an invoice?
 Run a Profit & Loss by Customer report, drill down on the expenses for this customer,
and copy them onto the invoice
 Find a previous invoice with unbilled charges and copy it
 Run the Unbilled Charges report and manually copy charges for this customer onto the
invoice
 Add them from the drawer on the right-hand side of the invoice
 Filter the money bar for Unbilled activity in the Sales Center and manually copy charges
for this customer onto the invoice
Daisy's Child Development Center invoices once a month for childcare provided. She has her
invoices set up as recurring transactions, using the option to include unbilled charges. She had to
close the center for a week and needs to reduce next month's invoice for the amount covered by
that week.
How can she make sure that next month's invoices are reduced?
 Create a refund charge
 Create a delayed charge
 Create a delayed credit
 Create a billable expense
Which 2 statements regarding sources and targets are true?
 There is one source per transaction
 There is only one target per transaction
 Sources provide information about classes
 Source accounts are always Balance Sheet accounts
What lets you set up a unique address, phone number, and email address for invoices that are
different from the default in Account and Settings?
 Projects
 Classes
  Locations
 Customers
Excluding the parent, how many hierarchical levels of sub-customers can you have?
 3
 4
 6
 10
Your client wants to start using Projects and they have given you a list of sub-customers to
convert.  While starting the conversion process, you notice that one of the sub-customers is not
on the list to convert.
What might be the reason?
 Multicurrency is turned on
 Projects are not turned on
 The sub-customer has an open balance
 The sub-customer is set to Bill with Parent
 The sub-customer has an inactive sub-customer
Your client has a project that needs a different address than the customer, so they want to convert
this particular project back to a sub-customer. 
Which 2 of the following are correct?
 They cannot convert a project to a sub-customer
 They can create a sub-project and link it to a sub-customer with a different address than
the customer
 They can turn on Locations and set up a location for the new address and assign that new
location to the project
 They can set up a new sub-customer with a different address than the customer and create
a project for that sub-customer
 They need to set up the customer again, with a different "display name as" name and the
new different address needed for the project
How do you activate the feature to manually batch-create and send invoices for unbilled activity?
 Account and Settings > Sales > Automation > Batch Invoicing
 All Sales > Unbilled Activity > Select Customers > Create Invoices
 Account and Settings > Advanced > Automation > Batch Invoicing
 There are no special steps to turn on batch-creating and sending invoices
Which statement is correct about Progress invoicing for a new company file within QuickBooks
Online?
 Once turned on, Progress invoicing cannot be turned off
 Progress invoicing is on by default in all new QuickBooks Online companies
 Progress invoicing is only available in QuickBooks Online Plus
  Progress invoicing automatically selects all outstanding estimates when creating an
invoice for a customer
Craig's Design and Landscaping Service has entered into a subcontracting agreement with Long
General Contractors. The contract states a negotiated special price for each product and service
item utilized in the jobs that Craig completes for Long.
Which type of price rule should you recommend Craig use in this situation?
 Percentage
 Fixed Discount
 Custom price per item
 Contract pricing
QuickBooks Online is able to keep track of charges you wish to invoice at a later date.
What are the 3 types of billable charges?
 Billable Expenses
 Billable Supplies
 Billable Time
 Delayed Charges
 Billable Customers
Read the Sadie's Car Parts scenario and answer the following question.
What is the total amount of billable charges for Mark's Mustang Supply Store?
 3150
 3365
 3325
 3410
Your client has hired a new employee to enter time for all employees using QuickBooks Online.
You want to review what has been entered to make sure it has been entered correctly.
What report would you run?
 Audit Trail
 Unbilled Time
 Time by Vendor/Customer
 Recent/Edited Time Activities
 Unbilled Charges
 Recent Transactions
Janet's Janitorial has contracts for commercial buildings. Her contract is based on the number
and size of the offices. She invoices monthly based on the number of offices cleaned and the
number of times they were cleaned.  
What QuickBooks Online feature can she use to keep track of cleanings to invoice at the end of
the month?
 Use time tracking
 Create an estimate
  Use pending invoices
 Enter delayed charges
 Create a statement charge
Which 3 statements regarding subaccounts are true?
 There is no limit to the levels of subaccounts that can be created
 Best practice is to set up a subaccount for each subcontractor
 Subaccount data appears indented under the parent account on any report
 Subaccounts provide more detail on income and expenses in a simple and straightforward
way
 You can collapse or expand individual groups of accounts, depending on the chevron
direction next to the group
A client manages rental property income and expenditures on behalf of numerous landlords.
Landlords own the properties, which are then rented out to tenants. The client needs to track by
landlord, by property, and by tenant. 
Which one method of monitoring income and expenditure would be most appropriate, especially
if the client needs to re-charge expenses for costs incurred to maintain properties?
 Projects
 Locations
 Sub-customers
 Classes
Which 2 statements are true about estimates in QuickBooks Online?
 You can make a progress invoice recurring
 You can create multiple invoices from one estimate
 You can invoice for more than the estimate, even when the estimate is closed
 You can add multiple estimates to one invoice
Craig's Design and Landscaping Service has entered into a subcontracting agreement with Long
General Contractors.
The contract states a negotiated special price that should be used for each product and service
item in the jobs that Craig completes for Long.
Which type of Price Rule should you recommend Craig use in this situation?
 Percentage
 Fixed Discount
 Custom price per item
 Contact Pricing