Q1Which 3 of these can you do when you select the Pencil icon on the bank account tile in the

Banking center?Edit answer

Your answer:

Update the bank info of that account

Edit user access to that account

Edit the account name

Q2Which statement is true when an account is disconnected from the bank feed in QuickBooks
Online?Edit answer

Your answer:

Transactions that haven’t been categorized yet will be excluded

Q3What user type and setting should you choose when you add the employee?Edit answer

Your answer:

Standard user with full access limited to customer and sales

Q4In QuickBooks Online, what 4 pieces of information do you need to set up sales tax for a
client who only does business in their home state?Edit answer

Your answer:

When they started collecting sales tax for the agency

How often they have to file a tax return

Their company address

Q5If you think sales tax isn’t being calculated correctly, which 2 of these should you verify?Edit
answer

Your answer:

That the tax is being calculated on the correct address

That the correct tax category is selected

Q6Where should a client initiate the setup of QuickBooks Payments?Edit answer

Your answer:

The Payments tab in Account and Settings

Q7Where would your client navigate to view the status of a bill payment that was paid using Bill
Pay powered by Melio?Edit answer

Your answer:

Open bill payment > View online payment

Q8Where are 2 places you can search for apps that work with QuickBooks Online?Edit answer

Your answer:

The Apps center tab in QuickBooks Online Accountant

Q9When logged into QuickBooks Online Accountant, where can you view apps that are
connected to a client's QuickBooks Online?Edit answer

Your answer:

Apps > Client apps

Q10From here, how can you access and create custom fields in QuickBooks Online?Edit answer

Your answer:

Gear icon > Custom fields

Q11When choosing how sales forms appear in emails, which 2 of these options can be chosen?
Edit answer

Your answer:

Summarized details

Full details

Q12Where would you go to disable this feature?Edit answer

Your answer:

Gear icon > Account and Settings > Sales tab > Tags

Q13In which account would you expect to see payments received but not yet deposited?Edit
answer
 Your answer:

Undeposited Funds/Payments to deposit

Q14How would you create a new estimate in QuickBooks Online?Edit answer

Your answer:

Sales > All Sales > New Transaction > Estimate

Q15What is the best practice sequence of steps to convert an estimate to a purchase order?Edit
answer

Your answer:

Open estimate > Dropdown next to Create invoice > Copy to purchase order

Q1

 Which 3 types of customer statements can QuickBooks Online generate?

Edit answer

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

 Q2
 Where should clients who want to apply credits manually go to disable this option?

Edit answer

Your answer:
Account and Settings > Advanced > Automation

 Q3
 What are 2 ways to access the vendor credit screen in QuickBooks Online?

Edit answer
 Your answer:
+New > Vendor credit
Expenses center > New Transaction > Vendor credit

 Q4
 In which scenario would you use a Bank deposit transaction?

Edit answer

Your answer:
When your client wants to record an SBA loan amount received

 Q5
 In what 3 ways can a Payments link be delivered to a customer?

Edit answer

Your answer:
The client can issue a QR code so the customer can scan and pay from their mobile device
From the client's mobile phone, a Payments link can be sent as a text message
Clients can send a Payments link to the customer via email

 Q6
 If your client wants to enable Autopay for their Customer, which 3 setup steps are required?

Edit answer

Your answer:
Set up a scheduled, recurring invoice template in QuickBooks Online
The recurring invoice is set to auto email the Customer
Enable Online payments on the recurring invoice template

 Q7
 Which statement is true about payment links in QuickBooks Online?

Edit answer

Your answer:
You can use payment links to send a request for payment on an existing invoice

 Q8
 What are the 3 ways to capture bills and receipts so that they can be matched to transactions and
added to the bank feed?

Edit answer
 Your answer:
Via the mobile app
File upload
Via mail service

 Q9
 Which 3 statements are true about recording journal entries?

Edit answer

Your answer:
You must specify a customer when posting to the accounts receivable account
Total debits must equal total credits
You can post to multiple accounts receivable and/or accounts payable accounts in the same
journal entry

 Q10
 What are 3 benefits of the Pay down credit card feature?

Edit answer

Your answer:
It provides easy-to-understand language for non-accountant users
It prevents miscategorization of credit card payment transactions
It prevents common errors that affect the company's financial statements

 Q11
 Where should your client go to record a Transfer?

Edit answer

Your answer:
+New > Transfer

 Q12
 Which Accountant tool in QuickBooks Online Accountant helps identify transactions that may
have been removed accidentally from the company file?

Edit answer

Your answer:
Voided/deleted transactions

 Q13
 Which common workflow error can cause duplicate expenses in QuickBooks Online?
 Edit answer

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

Section 4

 Q1
 From the For review tab in the Banking center, how can you exclude a bank transaction that is a
duplicate?

Edit answer

Your answer:
Find transaction > Check box next to transaction > Select Exclude in banner

 Q2
 Which 3 criteria can be specified in a bank rule condition?

Edit answer

Your answer:
Transaction Amount
Tag
Description

 Q3
 What 3 transaction types can you assign in a rule for money-in transactions?

Edit answer

Your answer:
Sales receipt
Invoice payment
Credit card payment

 Q4
 Which 3 statements regarding bank rules are true?

Edit answer

Your answer:
Bank rules can be copied, edited, or deleted
 Bank rules can be prioritized
Bank rules can automatically add transactions to the register

 Q5
 What happens when QuickBooks Online doesn't find a rule that applies to a transaction?

Edit answer

Your answer:
It leaves the category (account) field blank

 Q6
 In which of these scenarios would a scheduled recurring transaction be the best automation
option?

Edit answer

Your answer:
When invoices are sent monthly to a customer for fixed amounts and descriptions (and for any
unbilled charges as well)

 Q7
 Which 4 transaction types can be made into recurring templates?

Edit answer

Your answer:
Bill
Deposit
Invoice
Transfer

 Q8
 What is the default filter that is automatically applied when reconciling an account in the
Reconciliation dashboard?

Edit answer

Your answer:
Statement ending date

 Q9
 Which statement is true about the Reconciliation Discrepancy report?

Edit answer

Your answer:
 It’s always visible, even if discrepancies have been fixed

 Q10
 Which report displays the business’s Profit and Loss in picture form?

Edit answer

Your answer:
Profit and Loss Graph

 Q11
 Which report summarizes the amount of financial activity associated with each income or
expense account for a specific period of time?

Edit answer

Your answer:
Profit and Loss

 Q12
 Which report would you use to show the least popular products?

Edit answer

Your answer:
Sales by Product/Service Summary

 Q13
 What 3 customizations can you do from the Header/Footer section of the Customize reports
drawer?

Edit answer

Your answer:
Change the header or footer alignment
Show or hide the report basis
Show the logo

 Q14
 What 2 formats can be used for exporting management report packages in QuickBooks Online?

Edit answer

Your answer:
DOCX
PDF
 Q15
 Which 2 management report templates will be seen by default when accessing a client’s books
via QuickBooks Online Accountant?

Edit answer

Your answer:
Basic company financials
Expanded company financials

 Q1
 What should you do if you don’t see the Setup tab in the Books review screen inside
QuickBooks Online Accountant?

Edit answer

Your answer:
Select Cleanup from the dropdown next to the Books review heading

 Q2
 Which tab in the Books review menu allows you to view and adjust balances for balance sheet
accounts?

Edit answer

Your answer:
Final review

 Q3
 What are 3 of the stages in Books review?

Edit answer

Your answer:
Transaction review
Final review
Account reconciliation

 Q4
 How can you record the mileage expense for a company at year-end in QuickBooks Online?

Edit answer

Your answer:
Select Mileage in the left navigation bar
 Q5
 Where would you go to review your client’s expense account to see if any transactions have been
miscategorized?

Edit answer

Your answer:
Reclassify transactions from Accountant Tools

 Q6
 Which accountant-only tool enables you to categorize a large batch of transactions in only a few
clicks for any subscription level?

Edit answer

Your answer:
Reclassify transactions

 Q7
 Which 2 options are benefits of using the Close the books feature?

Edit answer

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

 Q8
 What’s the reason a client wouldn’t see the Exceptions to Closing Date report in the Reports
center?

Edit answer

Your answer:
No closing date has been set

 Q9
 Who would have access to these notes?

Edit answer

Your answer:
Team members assigned to the client

 Q10
 What are 2 ways to check a client’s subscription level in QuickBooks Online Accountant?
 Edit answer

Your answer:
From the Subscriptions and billing screen from the Gear icon
From the Company Settings screen from the Gear icon

 Q11
 What are the 3 types of user permissions you can choose from in QuickBooks Online Accountant
when adding new team members to your firm?

Edit answer

Your answer:
Full access
Basic access
Custom access

 Q12
 What is the correct process for setting up a recurring project for the same client?

Edit answer

Your answer:
Create a new project and use the Repeat slider to turn it on, then set the frequency and duration