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Section 4
Q1
From the For review tab in the Banking center, how can you exclude a bank transaction that is a duplicate?
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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?
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Your answer: Transaction Amount Description Tag
Q3 Which 3 are transaction types you can assign in a rule for money-out transactions?
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Your answer: Journal entry Expense Check
Q4 Which 3 statements regarding bank rules are true?
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Your answer: Bank rules can automatically add transactions to the register Bank rules can be copied, edited, or deleted Bank rules can be prioritized
Q5 Where will the current transactions appear if Auto-add wasn’t selected when creating a bank rule?
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Your answer: For review tab
Q6 What are 2 ways to begin setting up a recurring transaction in QuickBooks Online?
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Your answer: Gear > Recurring transactions Select the Make recurring option at the bottom of the desired transaction
Q7 Which 4 transaction types can be made into recurring templates?
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Your answer: Receive payment Invoice Paycheck Pay bills
Q8 What is the default filter that is automatically applied when reconciling an account in the Reconciliation dashboard?
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Your answer: Statement ending date
Q9 Which 3 conditions could lead to the beginning balance of a bank or credit card reconciliation being inaccurate?
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Your answer: A reconciled transaction was deleted A reconciled transaction’s status was changed to not reconciled A reconciled transaction’s amount was changed
Q10 Which report indicates when QuickBooks Online users signed in and out?
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Your answer: Audit log
Q11 What’s used to validate the bank and credit card account balances on a balance sheet?
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Your answer: Reconciliation reports
Q12 Which report would you use to show the least popular products?
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Your answer: Sales by Product/Service Summary
Q13 What 3 customizations can you do from the Header/Footer section of the Customize reports drawer?
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Your answer: Show the logo Show or hide the report basis Change the header or footer alignment
Q14 Which 3 predefined management report templates will a client see in their company file?
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Your answer: Expenses performance Sales performance Company overview Q15 Which 2 management report templates will be seen by default when accessing a client’s books via QuickBooks Online Accountant?
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Your answer: Expanded company financials Basic company financials
