Introduction of Pipedrive

Have you still not heard about Pipedrive, well let me tell you it is a CRM tool that is used most widely by organizations for managing their sales pipeline. It has a better user-friendly interface than other tools in the market. You can see the entire sales process from lead acquisition to deal closure.

The following tasks are done by Pipedrive:

• Visual and Customizable Pipeline—It has a drag and drop function, and you can add custom field and stages, so all three helps you to configure the pipeline according to your requirements.

• Activity Notifications — You can schedule all your sales activities.

• Contact Past—You can view every contact, deal, email, call, note, and meeting participant in your history.

• Segmenting Leads: By categorizing, filtering, sorting, and segmenting leads, you can make lists of people you want to follow up with.

• Team Management: It assists in coordinating tasks and sharing sales accomplishments.

• Revenue Forecasting: It helps in recalculating deals for updates and anticipates sales and revenue depending on your pipeline.

• Web Forms: Helps to design adaptable web forms for your website to produce leads for your lead pipeline.

• Reporting and Dashboards: Help to receive in-depth information on your sales and crucial activities, and analyze processes against your goals on dashboards.

• Email Integration: You can integrate with Gmail, outlook, and other mail services and can send, receive, and track emails.

Introduction of Quickbooks

There are so many accounting software in the market right now, but Quickbooks is even better among them. As it is widely used accounting software mostly by small businesses for keeping track of income and expenses, managing invoices and payments, generating financial reports, and streamlining the process of tax preparation to submission. It mainly automates most processes of bookkeeping and accounting hence reducing the risk of errors, making it more efficient hence saving time as well as money.

They have plans for mid and big organizations too. While some business owners use Quickbooks themselves, others prefer to have an internal or external bookkeeper. They have many plans nowadays but at first, they have Quickbooks Desktop which is used by most businesses, and they have Quickbooks Online which uses a cloud-based service. I will explain both, so you can understand the difference between them.

Quickbooks Desktop

Quickbooks Desktop is more traditional as this is the first product they have launched and the most widely used accounting software that you download and install on your computer. You pay around $549.99 as an annual fee for the Desktop version. They have a mobile app too, but it only has one of the many functions of uploading receipts and not so much and Only gives access to 200-plus apps.

Quickbooks Online

Quickbooks Online is the cloud-based accounting software made for modern businesses that require the real-time collaboration of data and access to their file from any device whether it’s Mac, Windows, or Tab, Mobile. For this version, you have to pay $315 per year. It gives access to over 650 plus apps, and you can create custom rules for bank transactions, which automatically update and categorize for you.

The online app they have is more robust in comparison to the desktop version. The two versions are independent of each other, which means the data you enter on the Desktop doesn’t sync to the Online version and vice versa.

Why Integrate Pipedrive and Quickbooks

So why do we want to integrate Pipedrive with Quickbooks in the first place? The value we got after integration is more than before integration, so I have provided some reasons down below to show you how it provides you with more value.

Automate the Records Creation

It automates record creation and synchronizes your customer’s Quickbooks data, sales information, and payments records. Hence, eliminating the need for manual work saves time, reduces the risk of errors, and ensures accurate and consistent data across systems

Streamline sales-to-accounting workflow

As you are consolidating the customer’s data in one place by centralizing their customer and financial data, meaning tracking payments from customers from invoicing to collection. This integration helps in seamless synchronization of sales data which streamlines the sales to accounting workflow, enabling smoother collaboration between sales and finance teams leading to shorter payment cycles and more cash flow for your business.

Accurate cash flow management

When you do Pipedrive Quickbooks integration, it ensures that financial data is up-to-date and accurate. Hence, it generates comprehensive financial reports, giving businesses valuable insights into their sales and financial performances. They can make critical data-driven decisions on that accurate financial information, which is especially important for small businesses.

Customer Satisfaction Multi-fold

When your customers have queries without integration, your customer support representatives don’t have all the necessary information, and sometimes they have to request information from other departments, leading to customer dissatisfaction. To respond to customer inquiries, your customer support representatives require a considerable amount of time, resulting in a negative customer experience and potentially losing customers. But after integration, you have all the data in your hands, hence This real-time knowledge helps in having more informed calls, higher conversions, and creating a loyal customer base for your company.

Reduced costs and increased productivity and profitability

As QuickBooks Pipedrive integration eliminates manual data entry and avoids duplication of work and double data entry leading to reducing the risk of errors. Hence, Employees can work on more productive tasks such as following up with leads and closing deals. Better collaboration across departments and a connected workforce mean more productivity and a reduction in costs, leading to higher profits, implying the whole team can work inclusively to achieve more.

Better Forecasts, Predictions, and Business Intelligence

With Pipedrive integration with Quickbooks, real-time data, and access to the collection of recent year-on-year financial transactions, you can create better financial plans for the future. It leads to accurate reporting of your business based on set key performance indicators (KPI) which allow you to make informed decisions on demand and supply.

Lower training costs

As both departments need to know about integration, you can train both department’s employees simultaneously, leading to less IT overhead. On the other hand, this will also increase their understanding of core business goals and learn how to take important actions that might affect other departments, hence reducing the cost overall.

How to integrate Pipeline and Quickbooks

Yeah. You are right, there are two ways to integrate Pipeline with Quickbooks. But if you want more control, or you have a different need, then people use third-party apps in between Pipeline and Quickbooks, But I will explain about it how to do it both ways down below.

Through Third party app

There are so many third-party integration tools available for Pipedrive QuickBooks integration like PieSync, Zapier, Automate.io, and Commercient SYNC. All tools have their strength and weakness, so choose a tool that meets your business need and budget. I am providing you with the process in steps that will make it easier to understand.

Step 1:

After deciding the tool that suits your need and budget, You have to create an account with that tool. Most of the tools offer a free trial, so you first try their tools then if it’s to your liking then commit to a paid plan.

Step 2:

After step 1, you need to connect both to the integration tool, so provide login credentials for Pipedrive and QuickBooks.

Step 3:

You need to Set up the Integration. As the setup is different for every integration tool, they have one thing in common. You have to map the fields of Pipedrive to the fields in Quickbooks, meaning you can decide which data you want to transfer from Pipedrive to Quickbooks.

Step 4:

Test and Monitor the Integration. As for testing, create a test deal in Pipedrive and check whether the data is transferred to QuickBooks or not. You can monitor it regularly, if you face any issues contact customer support.

Through the Pipedrive integration section

Okay, so let’s start with the process of Pipedrive QuickBooks online integration. If you are familiar with Pipedrive there is a tab on the left and one option is tools and apps.it is a marketplace that has so many apps for integration we use this tab in the following steps.

But before that, I am assuming that you have login credentials in both Pipedrive and QuickBooks. Now, one thing to note is that Only one user per Pipedrive company account can have an active Quickbooks integration at a time.

So I am writing the steps to take Pipedrive integration with Quickbooks:

Step 1:

Log into your Pipedrive account.

Step 2:

Go to Tools and Apps in the left tab, Under that Click Invoicing option and select “Quickbooks”. Then You will be taken to the marketplace, where you can complete the installation process according to the instruction flow shown on the screen and grant the app access to your account.

Step 3:

Now after step 2 when your valid Quickbooks login credentials have been confirmed by showing the confirmation on your screen, you will be directed back to your Pipedrive settings. Here you have to configure your Quickbooks integration preferences where you have to fill the value to the 5 fields.

Now as you can see in the above image to set up the Pipedrive Quickbooks integration. You will have to fill in the respective suitable Pipedrive fields and then only the due date will be auto populated when you create an invoice after the integration. There are total 5 fields, I will explain them one by one.

To—

This is the field to whom you wish to address the invoice.

Address —

This field is for the physical address to whom you wish to address the invoice.

Email—

This field is for the Email to whom you wish to address the invoice. In most cases a company’s accounts payable division often pays bills, so we advise using Pipedrive’s organization – Name, Address field, Email, in the above three fields respectively, but you can also choose Other organizations, individual contacts, and deal fields.

Customer tax ID-

Now for this field, as in most cases the invoices don’t require this information. But if you had created a custom field in Pipedrive for storing your customer’s tax ID information, then you have to fill that in here.

Due date—

Here you can set up the due date of the payment. By the way, if the due date is set for 7 days after the issue date, then an invoice created on Aug 4th will have a due date of Aug 11th.

You can save your integration preferences for your company’s Pipedrive account by clicking the “Save” button once you are pleased with your selections for the Pipedrive fields to populate your Quickbooks invoices.

Conclusion

As we write this blog in this manner so that even a beginner who doesn’t know about Pipedrive and Quickbooks can understand and able to do Quickbooks online Pipedrive integration. Although both Pipedrive and Quickbooks are great tools in their respective field in the marketplace, and they still provide updates, connecting the two creates a perfect combination of their own Customer relationship management tools and accounting or bookkeeping.

Before this, a sales team streamlined these processes, but even though there is a chance of errors and mishaps always existed. After this integration, the business can save both money and time, hence increasing productivity and profitability. As you can read, you understand how easy for businesses nowadays to integrate these tools and make your business grow like never before.

The city has become an ideal destination for listing due to its well-established financial infrastructure, international standards, and geographical proximity to Mainland China – making it particularly attractive for Chinese companies looking to go public.

Why list on the Hong Kong stock exchange?

The primary benefit companies gain when listing on the Hong Kong Stock Exchange (HKEX) is access to a large pool of investors, including domestic and international institutional funds. The unique nature of the Hong Kong market also offers companies several advantages that they may not be able to get in other jurisdictions, such as:

A favourable tax environment – there is no capital gains tax or stamp duty payable on share transactions.

Low listing requirements – Companies can list with relatively small numbers of shareholders, which makes the process simpler and faster than in other markets.

 Access to mainland China – HKEX provides a gateway for Mainland Chinese investors to participate in IPOs, offering an alternative route for raising funds.

High liquidity – HKEX has one of the highest traded volumes in the world, making it an attractive market for investors and issuers alike.

How does the IPO process work in Hong Kong?

The IPO process in Hong Kong can be broken down into several stages, from pre-IPO preparation to listing and beyond.

Pre-IPO preparation – Companies must complete all necessary regulatory and legal requirements before proceeding with the listing application. This includes preparing a Prospectus and obtaining approval from the Securities and Futures Commission (SFC).

Submission of listing application – Once the company has completed its preparations, it will submit a listing application to HKEX along with relevant documents, such as a prospectus.

Review by HKEX – The exchange will review the application and documents to ensure that all requirements are met.

Market sounding – HKEX may also conduct a market-sounding process in which potential investors are asked for their views on the company and its proposed listing. This will help the exchange determine the demand for the stock.

IPO announcement – Upon approval of the listing application by HKEX, an announcement is made to inform potential investors about the offer.

Price setting – The Exchange will then set a price at which shares can be offered to investors based on market conditions and investor demand.

Trading commences – After the IPO announcement and shares have been allocated, the company receives trading commences and proceeds from the IPO.

Are there any risks associated with IPOs in Hong Kong?

Like any investment, there are risks associated with IPOs in Hong Kong. These include:

Market risk – Market conditions can be unpredictable, and share prices may fluctuate due to economic downturns or industry-specific issues.

Regulatory risk – Companies must comply with all relevant regulations, including those from the SFC, which can increase costs and add complexity to the listing process.

Reputational risk – Companies that list on the exchange may find their reputation affected if investors are unsatisfied with performance or if the company fails to meet its obligations under the listing rules.

To summarise

IPOs in Hong Kong offer some advantages for companies looking to raise funds and go public. The city is well-known for its well-established financial infrastructure, favourable tax environment and unique access to mainland China investors, making it an ideal destination for listing.

Companies must complete all necessary preparations before proceeding with the listing application process, which includes obtaining approval from HKEX and conducting a market sounding. Once approved, trading commences allowing companies to receive proceeds from the IPO issue. All in all, IPOs in Hong Kong are an excellent way for companies to expand their investor base and access new growth opportunities.

This leaves your product competing with other similar products on the shelf. However, your product should not be seen as a commodity. Just because your competitors are selling similar products does not mean yours is interchangeable with theirs. You can give buyers a reason to choose your product over the competition.
But, how do you tip over an undecided customer to choose your product on the shelf? Here are 4 ways you can increase sales of your products on the shelf.

1. Persuasive labeling

The labeling on your product can also play a role in attracting customers. Use persuasive language and label design to highlight the benefits of your product to encourage customers to choose your product over others.

Also, Many buyers overlook a product because of the inconsistency with the price labeling at retail stores. Sometimes, the price displayed on the manual label on the shelf is different from what customers are charged at the checkout counter. This discourages buyers and increases the customer churn rate for that product.

To reduce these cases of imprecision in price tags, many retail stores are leveraging digital technology to utilize labels like the SES-imagotag’s electronic shelf labels. Hence, price updates can be automated and more efficiently executed to boost customer confidence in the pricing system.

2. Attractive packaging

The packaging of your products is an important factor that can influence a customer’s decision to buy your product. Ensure your packaging is visually appealing as it can help your product stand out on the shelf.

Here are a few ways to strategically use packaging to sell more of your products:

Relevance of packagin

Your product should have a target market. Invest in researching what appeals to this target market and incorporate your findings into the details of your packaging. For instance, if your product is an energy drink, its design and packaging container should be relevant to drinks.

If it were packaged like a skincare product, that would confuse a lot of customers who may not have the time to read the details on the packaging material to know what the product is.

Packaging size

Size is important when it comes to packaging. Most buyers opt for products they can conveniently move around. Depending on your product type, it should be moderately sized to avoid taking up a lot of shelf space and make transportation easier for customers. The key is to remember that if you make it easier for people to buy from you, they will be more likely to buy.

Design and color theme choice

Product packaging design such as images, font style, and even color theme combinations used on the packaging material can impact sales of your product. The font style should not be dramatic or ‘special’ since it would make it more difficult for some buyers to read.

Also, the color choice should reflect the type of product you are offering. Most water bottling companies use the color blue in their product design. This is because blue has a soothing effect and gives the impression of satisfaction.

3. Shelf placement

Shelf placement can have a big impact on sales. Try to secure a prime spot on the shelf, such as at eye level or the end of an aisle. This makes it more likely that customers will see and consider your product.

Bottom line
You can choose to differentiate your products from those of your competitors in a lot of other ways like price, durability, and ease of use. Price is an important factor for many customers. Make sure your prices are competitive, but also consider the value that your product offers.

1. Keep track of your IT infrastructure

Your IT infrastructure is the core of business tech, so maintaining it is vital. The good thing is that regular maintenance of your hardware and software can keep your systems on the right track. Steps like servicing your hardware assets, backing up your data, using antivirus programs, and installing security updates can save you from massive expenses later. These measures also increase employee productivity and efficiency upfront. Hiring a managed service provider is a good way to cover these fronts without breaking the bank.

2. Invest in timely upgrades

Besides maintaining your current infrastructure, you must invest in timely upgrades to keep your organization ahead. Using a legacy system can actually cost more than spending on automation, so you must upgrade sooner than later. You can do it frugally by setting priorities and picking one process at a time. Carry out regular infrastructure audits to understand where to start and plan a modernization roadmap accordingly.

3. Outsource when necessary

Another money-savvy way to maintain your business tech is by outsourcing when necessary. For example, you can outsource software developers to build a custom solution or upgrade an existing one. A staff augmentation model empowers your team with additional expertise just-in-time. The good thing is that you can find reliable providers for staff augmentation in latam without spending a fortune. The region has a reputation for providing high-end tech talent at affordable costs.

4. Bring your employees on the same page

Business tech is as much about your team as infrastructure, so bringing your employees on the same page helps. Training them to take better care of their devices can prevent malfunctions and save costs for the company. Likewise, creating security awareness is crucial because the smallest errors can compromise corporate data and networks. Employee training may pinch your wallet in the short term, but it provides massive ROI in the long run.

5. Stay updated with the latest trends

Staying updated with the latest tech trends in the industry is another measure to maintain your business tech. You may embrace the ones that can strengthen your competitive positioning. For example, it is vital to have a business continuity plan in the new normal because you never know what is around the corner. Similarly, retail companies must embrace the e-commerce trend to stay competitive. Keeping up with the latest tech developments helps you to adapt quickly in emergencies.

Maintaining business tech need not burn a hole in your wallet. You only need to plan well and spend wisely to keep your company ahead of the trends. Following these frugal tips can keep you on the right track as an entrepreneur.

Features of QuickBooks Online Plus:

It includes all the features of QuickBooks Online Essentials as well as the ability to manage inventory and track project profitability. It helps you to manage worker costs, payroll, and expenses. The QuickBooks Online Plus version allows for a maximum of 5 users. Below are the features of QuickBooks Online Plus.

1. Limitless Invoices and Estimates: The QuickBooks Online Plus includes limitless estimates and invoices.

2. Track Income and Expenses: It easily finds the transactions from your connected account into the tax groups to track income and expenses.

3. Reporting features: It includes up to 20 reports like Profit & Loss, sales, and purchases by class and location.

4. Integrations: It includes 650 integrations.

5. Manage Bills: It tracks and pays bills, creates recurring payments, and pays multiple vendors. 

6. Tracking Time: It can enter time itself or give access to employees to enter their time.

7. Project Management: It can manage project profitability for all your projects with user-friendly dashboards and detailed reports.

8.  Inventory Tracking: It automatically tracks your inventory like product levels, cost of products, and sends notifications when inventory is low.

9. Class Tracking: It categorizes your income and expenses by department, type of business, or any category designation.

10. Miles Tracking: It helps you to use your mobile GPS to easily track the miles you drive, and track the business trips.

11. Includes 5 Users: The QuickBooks Online Plus version allows for a maximum of 5 users.

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Pricing

The QuickBooks Online Plus version allows for a maximum of 5 users and the price is $80/Month. If you buy a 3-month subscription, you have to pay only 50%.

System Requirements:

If you are trying to use QuickBooks Online Plus for your business, then you should know the system requirements for this. Here are some system requirements before using QuickBooks Online Plus.

• Operating Systems should be like Microsoft Windows 7 or 10, Mac OSX 10.7 or later, latest Chrome OS.
• You need a high-speed internet connection. 
• Supported browsers are Chrome 34 or later, Firefox 29 or later, Internet Explorer 10 or later, Safari 6.1 or later.
• It is accessible via mobile browsers like Android, Chrome (Android and iOS) & Safari.
• A data plan is necessary. (All features are not available on mobile apps).
• You can use the QuickBooks Online mobile application on iPhone, iPad, Android phones, Android tablets.
• The mobile access has been included with your QuickBooks Online subscription at no additional cost.

This was everything about the QuickBooks Online Plus. We have discussed its pricing, features, and system requirements. You can drop a call through this toll-free number +1-844-405-0904 and can connect with our QuickBooks ProAdvisors for further queries.

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It allows users to track income and expenses, manage accounts receivable, and stay on top of accounts payable. And it can connect with your accountant and makes it easy to pay taxes. The Online Essentials allows up to 3 users to access it. Let’s know more features;

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Features of QuickBooks Online Essentials

There are some of the new features of QuickBooks Online Essentials are given below.

1. Track Income and Expenses

It can easily import transactions from your credit cards, bank, PayPal, Square accounts and sort your transactions into tax categories automatically. The QuickBooks Online Essentials creates custom tags and arranged them into up to 40 tag groups to see where you make and spend money. It can email or upload receipts to QuickBooks.

2. Capture and Arrange Receipts

It creates new expenses receipts and matches your receipts to existing expenses. Also, it can easily upload or email receipts to QuickBooks. QuickBooks can shortlist your receipts into tax categories.

3. Bills Management

The user can manage bills in one place and schedule and pay bills online in QuickBooks. It allows choosing the way to pay your vendors like pay online through bank transfer or debit card, or defer payments through credit card.

4. Detailed Reports

The user can track inventory, profitability, enhanced sales, expenses reports, profit & loss, and balance sheets. You can choose different templates to build and customize reports according to your business need.

5. Track Sales and Sales Tax

The QuickBooks Online Essentials helps you to calculate taxes automatically through your invoices and connecting to the e-commerce tools like Shopify. You can accept credit cards anywhere with the mobile card reader or sync with popular apps.

6. Includes 3 Users

The QuickBooks Online Essentials includes up to 3 users. It helps you to protect sensitive data and share reports without sharing a sign-in.

7. Time Tracking

The Online Essentials enters the hour itself or gives access to employees to enter their hour. The QuickBooks Online Essentials helps you to track billable hours by client or employee and add them automatically to invoices.

8. Miles Tracking

The QuickBooks Online Essentials allows you to use your mobile GPS to easily track the miles you drive, and track personal and business trips. 

9. Send Estimates

It allows you to categorize your business estimates to see the latest performance of your business. In QuickBooks Online Essentials, you can accept mobile signatures and convert estimates into invoices and track payments easily.

10. Maximize Tax Deductions

The user can arrange income and expenses into tax categories and automatically shortlisted business expenses into the right tax categories.

11. Manage 1099 Contractors

You can prepare the 1099s file from QuickBooks and assign vendor payments to 1099 categories. In QuickBooks Online Essentials, the user can see who they have paid, what, and when they did it.

12. Invoice and Accept Payments

The QuickBooks Online Essentials permits you to accept all credit cards and bank transfers. Also, you can track invoice status, and match payments, send payment reminders to invoices automatically. It helps users to create professional custom invoices.

Pricing

The QuickBooks Online Essentials version allows up to 3 users and the price is $25/Month. If you buy a 3-month subscription, you have to pay only 50%.

System Requirements

If you are trying to use QuickBooks Online Essentials for your business, then you should know the system requirements for this. Here are some system requirements before using QuickBooks Online Essentials.

• Operating Systems should be like Microsoft Windows 7 or 10, Mac OSX 10.7 or later, latest Chrome OS.
• You need a high-speed internet connection. 
• Supported browsers are Chrome 34 or later, Firefox 29 or later, Internet Explorer 10 or later, Safari 6.1 or later.
• It is accessible via mobile browsers like Android, Chrome (Android and iOS) & Safari.
• A data plan is necessary. (All features are not available on mobile apps).
• You can use the QuickBooks Online mobile application on iPhone, iPad, Android phones, Android tablets.
• The mobile access has been included with your QuickBooks Online subscription at no additional cost.

It was all about the QuickBooks Online Essentials. Hope you find it informative, and now you have an idea about its features, pricing, and system requirements. You can contact our QuickBooks experts through this number +1-844-405-0904 for further detail.

Didn't find your solution?

Don't get stressed out? We are here for help. Find a QuickBooks ProAdvisor or CPAs who can help you get rid of your problem. Dial our toll-free number.

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Furthermore, QuickBooks Online Advanced is utilized to provide tasks to the company representatives, give access to other users, and work online with other team members. Users can utilize it to categorize their transactions based on finance, tax categories, and other financial operations. It allows you to manage recurring payments and create custom estimates.

Through this article, Learn the QuickBooks Online Advanced in detail. You can get help by dropping a call through a toll-free number +1-844-405-0904 for further assistance.

What’s New in QuickBooks Online Advanced

Below are the new features of QuickBooks Online Advanced.

1. Exclusive App Integration

You can integrate with the best apps for tailored solutions and track data unique to your industry with Premium Apps like Bill.com, Salesforce, Hubspot, DocuSign, and more. And access exclusive connections, and functions only with this QuickBooks Online plan.

2. Manage Employee Expenses

Employees can save their valuable time and can reduce the tension of error by directly submitting expenses to QuickBooks. This function will help to track the employee’s expenses in QuickBooks.

3. Revenue recognition

Now you can avoid manual work in Spreadsheets and third-party tools as this feature can automatically track and enter deferred revenue to your books, so you can Stay consistent, compliant, and credible with automated revenue recognition.

4. Workflow automation

Now you can automate key accounting tasks like setting reminders for transactions like invoices, payments, or deposits with a due date and notify customers when their payment has been received and Route invoices through on pre-set approval flows quickly.

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Key-Features Available in Online Advanced

There are some features that are available in QuickBooks Online Advanced.

1. Track Income and Expenses

It can sort your transactions into tax categories automatically and import them safely from your bank, credit cards, PayPal, Square. Also, it creates custom tags and organizes them into up to 40 tag groups to see where you make and spend money. It can upload or email receipts to QuickBooks.

2. Maximize Tax Deduction

It can easily categorize and sort income and expenses into tax categories. It allows you to share your account details with your accountant.

3. Invoice and Accept Payments

It allows you to accept all credit cards and bank transfers, and you can track invoice status, and match payments, send payment reminders to invoices automatically. Also, The user can create professional custom invoices.

4. Manage Cash Flow

You can open a QuickBooks Cash account to use instant deposit at additional cost and see your business balances on one dashboard. 

5. Send Estimates

The user can easily categorize their business estimates to see the latest status of their business. QuickBooks Online allows you to accept mobile signatures and convert estimates into invoices. Also, the user can track payments easily.

6. Manage and Pay Bills

You can pay and schedule payments online in QuickBooks and manage bills in one place. It allows choosing the way to pay your vendors. You can pay online through bank transfer or debit card, or defer payments through credit card. 

7. Project Profitability Tracking

The user can easily track labor costs, payroll, and expenses with job costing and keep the eye on one place. You can see project profitability with clear dashboards and reports.

8. Inventory Tracking

You can easily track products and the cost of goods and create purchase orders, and manage vendors. When inventory is low, you will get a notification. See what’s popular.

9. Miles Tracking

It allows you to use your mobile GPS to easily track the miles you drive, and track business and personal trips. 

10. Sales and Sales Tax Tracking

You can calculate taxes automatically by using your invoices and connecting to the e-commerce tools like Shopify. It allows you to accept credit cards anywhere with the mobile card reader or sync with popular apps.

11. Time Tracking

It can enter the hour itself or give access to employees to enter their hour. Also, you can track billable hours by client or employee and add them automatically to invoices.

12. Google Sheets

You can link QuickBooks with Google Accounts and start exporting any QuickBooks report to Google Sheets. When QuickBooks reports are exported to Google Sheets, the formatting of the QuickBooks report is also ported over.

13. Manage Task

It allows you to create and assign work from anywhere and on any device. You can speed up review and approval processes with if-this-then-that workflows.

14. Run Powerful Reports

You can see how much your profitability is progressing and create custom charts to track indicators like gross revenue, net profit, or expenses by class or location.

15. Business Analytics & Insights

It allows you to rank, compare, and benchmark your companies, clients, or franchisees. 

16. Batch Invoices & Expenses

It helps you to batch invoices with category or item details, or duplicate line items for multiple categories. You can create up to 150 invoices, checks, bills, or expenses at once via the batch transactions panel.

17. Back up Company Data

You can set up automatic and continuous backups and restore to a specific date and time, and track changes with the history logs. Rollback on changes made to vendors, customers, settings, and more.

18. Includes More than 5 Users

The QuickBooks Online Advanced includes more than 5 and up to 25 users. You can create custom access to share the work without losing data.

19. 3 Accountant Seats

It allows up to three accountants, CPAs, tax preparers, inventory specialists, or other accounting professionals.

20. Security & Private

It keeps all your financial data protected by using advanced, industry-recognized security safeguards. It can automatically back up your data and work anytime and on any device.

21. Easy to Use

You can connect to the right resources with a dedicated account team via your Priority Circle membership. According to a maximum number of users, it is very easy to get QuickBooks and use it.

22. Work Smarter

You can work anywhere, anytime, and on any device. You can collaborate with your bookkeeper, accountant, or other colleagues when you track the changes in an activity log. It allows you to access and manage your accounts from your computer, laptop, tablet, or smartphone.

23. Bill management

You can easily manage and pay bills on time by scheduling and making payments online right in Quickbooks, and also you can connect with your vendors and automatically import bills through the QuickBooks Business Network.

24. Chart of accounts (unlimited)

You can keep track of money in and money out with unlimited entries, as you can track financial transactions with an unlimited chart of account entries.

25. Connect all sales channels

You can connect QuickBooks Online to any number of accounts across e-commerce apps like Amazon, Shopify, and eBay—and other platforms added in the future.

26. Custom access controls

You can easily control who sees your data, assign work to specific users, and create custom permissions.

27. Data sync with Excel

As you already know that Excel provides more accurate business data and custom insights, so it gives you the option to seamlessly send data back and forth between QuickBooks Online Advanced and Excel.

28. Enhanced custom fields

You can add up to 40 custom fields and create more detailed reports with multiple field types. You can also search, sort, and filter data.

29. Exclusive premium apps

You can integrate best-in-class apps like LeanLaw, HubSpot, Docusign, Bill.com, Salesforce, and Centage to build end-to-end solutions tailored to meet your unique business needs.

30. Income and expenses

You can create custom tags and organize them into up to 40 tag groups to see where you make and spend money.

31. Receipt capture

You can upload or email receipts to QuickBooks instantaneously, and it will match your receipts to existing expenses or create new expenses for you if it doesn’t match any expenses.

32. Tax deductions

It can automatically sort business expenses into the right tax categories, which you can organize easily, and you can share with your accountants to avoid tax-time surprises.

Pricing

The QuickBooks Online Advanced version allows a minimum of 5 users and up to 25 users and the price is $90/Month. If you buy a 3-month subscription, you have to pay only 50%.

System Requirements for QuickBooks Online Advanced

If you are trying to use QuickBooks Online Advanced for your business, then you should know the system requirements for this. Here are some system requirements before using QuickBooks Online Advanced.

• Operating Systems should be like Microsoft Windows 7 or 10, Mac OSX 10.7 or later, latest Chrome OS.
• You need a high-speed internet connection. 
• Supported browsers are Chrome 34 or later, Firefox 29 or later, Internet Explorer 10 or later, Safari 6.1 or later.
• It is accessible via mobile browsers like Android, Chrome (Android and iOS) & Safari.
• A data plan is necessary. (All features are not available on mobile apps).
• You can use the QuickBooks Online mobile application on iPhone, iPad, Android phones, Android tablets.
• The mobile access has been included with your QuickBooks Online subscription at no additional cost.

QuickBooks Online Advanced simplifies your business with some of the advanced custom tools to make your account management easier. First, observe the features provided by the Online Advanced, and take the decision to use it or not. We have covered all of the important information of the plan, hope you find it informative. You can take help from our QuickBooks ProAdvisor through the toll-free number +1-844-405-0904 for any kind of query regarding this.

Didn't find your solution?

Don't get stressed out? We are here for help. Find a QuickBooks ProAdvisor or CPAs who can help you get rid of your problem. Dial our toll-free number.

Call us: +1-844-405-0904

• Is QuickBooks Online the same as Simple Start?
• What is the difference between QuickBooks Online Simple Start and Essentials?
• How do I use QuickBooks Simple Start?
• What reports are available in QuickBooks Online Simple Start?

QuickBooks Simple Start can track miles, run general reports, send estimates, track sales, and sales tax, and manage cash flow. Apart from these, meant for the plan.

Features of QuickBooks Online Simple Start:

The QuickBooks Online Simple Start version allows only one user. Below are the features of the QuickBooks Online Simple Start version.

1. Track Income and Expenses: It easily finds the transactions from your connected account into the tax groups to track income and expenses.

2. Invoices and Estimates: The QuickBooks Online Plus includes limitless estimates and invoices.

3. Reporting features: It includes up to 20 reports like Profit & Loss, sales, and purchases by class and location, balance sheet, and sales.

4. Miles Tracking: It helps you to use your smartphone’s GPS to easily track the miles you drive, and track the business trips.

5. Sales and Sales Tax Tracking: It automatically calculates and tracks sales and sales tax.

6. Maximize tax deductions: It automatically sorts expenses into the right tax categories.

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Pricing of QuickBooks Simple Start:

The QuickBooks Online Simple Start version allows a single user and the price is $7.50/Month. If you buy a 3-month subscription, you have to pay only 30%.

Simple Start System Requirements:

If you are trying to use QuickBooks Online Simple Start for your business, then you should know the system requirements for this. Here are some system requirements before using QuickBooks Online Simple Start.

• Operating Systems should be like Microsoft Windows 7 or 10, Mac OSX 10.7 or later, latest Chrome OS.
• You need a high-speed internet connection. 
• Supported browsers are Chrome 34 or later, Firefox 29 or later, Internet Explorer 10 or later, and Safari 6.1 or later.
• It is accessible via mobile browsers like Android, Chrome (Android and iOS) & Safari.
• A data plan is necessary. (All features are not available on mobile apps).
• You can use the QuickBooks Online mobile application on iPhone, iPad, Android phones, and Android tablets.
• The mobile access has been included with your QuickBooks Online subscription at no additional cost.

Final Words:

QuickBooks Simple Start is only for business starters, who are new in the business. So it is a good beginning plan for QuickBooks Online. We have given the complete overview of the simple start in the above still if you have any kind of query regarding this QuickBooks Online plan then you contact our well-experienced, and certified QuickBooks ProAdvisors through the toll-free number +1-844-405-0904 for further support.

Didn't find your solution?

Don't get stressed out? We are here for help. Find a QuickBooks ProAdvisor or CPAs who can help you get rid of your problem. Dial our toll-free number.

Call us: +1-844-405-0904

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Get A Lawyer’s Advice

If your work has been impacted as the result of a work accident, there is no question that seeking legal assistance would be important for getting yourself back on track.   This could include finding out your entitlement to disability benefits and also receiving guidance on suing an employer who does not uphold their responsibility in keeping workers safe from harm. If necessary, your lawyer can help you file a lawsuit against your employer or former employer.

It’s been said that West Virginia has a population of 1,793,716 people. If someone needs a West Virginia personal injury law firm they should check the lawyer websites for free consultations and case evaluations. It’s often possible to make contact 24/7 and to view client testimonials and legal victories, and to view the team. Look for the lawyers’  affiliations and accreditations and how many years of experience they have before you choose.

Notify Your Employer

As soon as you have become injured in a work accident, notify your employer – be it your supervisor, manager or HR department. If you don’t tell them in person or via a phone call, make sure that they get a letter in the mail letting them know what happened and when. This will help protect you if anything happens with your claim down the road (i.e., getting fired for not disclosing). Should you ignore these steps your employer could claim that your injury was not sustained during work time, but happened later on at a different location.

Only return to work once the injury has healed and it’s safe for you do so without risking further injury or worsening symptoms. Let your doctor be the guiding voice in this scenario – if you don’t take their advice you could return to work too soon and need to be off sick again later on – and this could create problems with your employer.

File For Workers’ Compensation

Workers’ compensation is a type of insurance that covers your medical expenses and part of your lost wages if you are injured on the job. In some states, it also protects employees who have been hurt as a result of unsafe working conditions or because they were not using safety equipment. Workers’ compensation can provide financial support to those who have been seriously harmed in an accident at work or while conducting company business – even if it was considered “an Act Of God.”   

In order to file for workers’ comp, you need an experienced attorney who will guide you through the process from start to finish. You should speak with your employer to ask whether you qualify for any state-mandated insurance coverage (like workers’ compensation) as well as what steps they must take should something happen on the job site (like filing a claim or taking action against another party). Worker’s Compensation Laws vary from state to state, which is why you need an experienced attorney who knows how it works in your particular jurisdiction.

Collect The Evidence

After speaking with your employer and attorney, begin gathering evidence (e.g. doctor’s reports and documents related to your job duties and work injury).

This will be needed so there are no disputes later about any pre-existing conditions or what you were doing when you got injured.

Understand Negotiation And Time Limits

The last step is to deal with the insurance company and negotiate what you are entitled to under state law. This would be achieved by accepting a settlement or going through mediation, arbitration or filing a lawsuit if necessary.

Workers’ compensation cases have time limits so it’s very important that everything is handled quickly. This is in order to minimize any delays which could reduce your benefits. The process can take anywhere from several months to two years depending on how long it takes for claims adjusters and doctors to give their opinions. They would include whether further surgery is required, whether you are temporarily disabled or even permanently disabled. These factors and more would determine the dollar amount of your settlement. Keep track of all the expenses incurred during this period (medical bills, utilities, food costs, etc.) so you can make sure you get reimbursed by your company should you return to work. 

Seek Disability Benefit

One of the initial things you need to do is see your doctor. While it may seem obvious, many people forget about this step and end up struggling because they are not aware of short-term disability benefits. Your doctor can help determine if you are unable to work due to an injury or illness that will take a set period of time before you are able to return back at full strength. Get a doctor’s note stating that you cannot work due to your injury and give this to your employer.

In some cases, people need to file an application for long-term disability benefits with Social Security Disability. They can help you determine how to go about this process and explain what criteria you need to meet in order for your application to be approved.

During the process, take care of yourself by getting enough rest and eating nutritious meals. Also, be sure to follow medical advice regarding things like physical therapy exercises, taking medication and applying for therapy or counseling if needed. If you follow the steps outlined in this article you will be well-placed to get through this challenging season and to obtain the finance that you need. Then you can focus on your physical recovery, and the new normal following the accident.

In this modern business sector, everyone wants to grow within a specific duration of time in such situations Quickbooks accounting software has proved to be an essential tool for any organization to maintain its growth. That’s why the demand for this tool is increasing day by day and now students are also focusing on the preparation for quickbooks online certification exam answers and want to make their career as a QuickBooks ProAdvisor. To become a Pro adviser, one needs to crack the quickbooks online certification exam on which he gets the Quickbooks certification awarded by Intuit.      

Want to know all the essential information as well as quickbooks online certification exam 2021 questions and answers for the preparation of this exam? This post is very critical for you as you will get complete information about the same.  

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Sample QuickBooks Online Certification Exam Answers 2023

The sample QuickBooks Online Certification exam answers 2023 will assist you in preparing for the exam. It will also help candidates who are currently practicing QuickBooks Online Certification 2023 Questions and want to analyze the answers or questions. Here we will provide 230+ Questions and answers.

Question (1): What is the difference between the “Profit and Loss Report” and the “Balance Sheet Report”?

Answer: 

P&L shows activities: income and expenses to arrive at Net Income (Profit) for a specific period.

The Balance Sheet shows values: Assets and Liabilities to arrive at Equity (Net Worth) as of a specific date.

The Net income from the Profit and Loss passes through the equity section on the balance sheet.

Question (2): Your client wants to transfer $500 from their checking account into a savings account to cover tax liabilities for sales made last month. Where should they start the process?

Answer: Navigate to the Quick Create icon, then find the Transfer link.

Question (3): Look at these two sentences about Undeposited Funds.

By posting to Undeposited Funds, you can create a single bank deposit for multiple payments, making it easy ___________.

When receiving a payment, make sure _________________.

Which of the options below correctly fills in the blanks?

Answer: To match your bank register with your bank statement; 2. The Deposit to the account is Undeposited Funds

Question (4): You have a client business that uses invoicing, the Accounts Receivable workflow, and they use the Banking screen to record a customer payment received. They select an income account and then select Add. What 2 problems will this cause?

Answer: 

Their Accounts Receivable balance will not be accurate

The income account will show duplicate income

Question (5): When would you use to add other funds to this deposit grid in a Deposit Transaction? Identify the 3 correct options below.

Answer: 

1. When an employee reimburses the company.

2. You receive a tax refund from the IRS.

3. When a company doesn’t record income using sales transactions (invoices or sales receipts) and wants to record deposits directly to income accounts.

Question (6): Which 2 of the transactions and tools in the list are Posting transactions?

Answer: 

Credit memos

Vendor credits

Question (7): Which option has the correct information about how a delayed charge is used, and how it is created and linked to an invoice?

Answer:

Use a delayed charge to record a fee that you want to invoice in the future. The first step is to select a Delayed charge from the Quick Create menu, and then add it to an invoice later by selecting Add when the customer invoice is created.

Question (8): What 3 types of customer statements can be generated by QuickBooks Online?

Answer:

1. Statements that show a balance forward and then all activity between two specified dates.

2. Statements that show invoices created between two specified dates and their related payments.

3. Statements that show just open transactions.

Question (9): Clients can take payments from their customers’ credit cards via Online Invoicing if they have QuickBooks Payments set up. How does the customer interact with the invoice to access credit card payment features?

Answer: They select the Pay Now button.

Question (10): Look at the following process for matching and adding deposit transactions from a bank feed: 

Select the line for that entry, and you’ll see more information in the row that expands

Select the Deposit link among suggested match(es) to view the deposit transaction

Hit Cancel in the bottom left and you’ll go back to the banking area

Now that we’re satisfied that this is the right banking activity matched to the right QuickBooks Online Transaction, we can ______________. 

Which option correctly completes the final step?

Answer:

Hit Match on the right of the entry.

Question (11): The ____________ lists each customer with an open balance. It lists the open invoices in different columns based on whether they are current or how long it’s been overdue 30, 60, and 90+ days. What kind of report is being described here?

Answer:

A/R Aging Summary Report

Question (12): Your client wants to understand the difference between cash-based and accrual-based reporting. Which is the best definition of cash-based reporting?

Answer:

Cash-based reports display income as of the date the customer payment is received/recorded and expenses as of the date a vendor bill is paid.

Question (13): Read the following statement about recurring transactions in QuickBooks Online and the suggested steps to create one.

Statement: “Recurring transactions in QuickBooks Online can be set up to manage any of the first transactions in any workflow, like sales receipts, invoices, bills, journals, checks, deposits, or expenses”.

Suggested steps:

• Select the Quick Create icon
• Select Recurring transactions
• Select New
• Now choose Expense as the new Transaction Type from the drop-down list and hit OK
• On the new screen, enter Sult Advertising monthly fees as the template name. The best practice is to list the “Name” (Vendor/Customer/Employee) in the Template name. This makes it easier to identify what Names have recurring templates
• As the type, make it Scheduled. Which is true?

Answer:

Only the statement is correct

Question (14): Look at these steps for creating a project and a task in QuickBooks Online Accountant:

1. _________________
2. Select Create a Project in the top right
3. Name the project Year-End
4. Select the Client and enter four weeks from now as the due date
5. Select Save
6. Select your newly added Year-End project
7. _________________
8. Type in the Task name – Bank reconciliation and close books
9. Due date – two weeks from now10. Select Save, Which option identifies the right steps for 1 and 7?

Which option identifies the right steps for 1 and 7?

Answer: 

1. Select Work from the left menu;

7. Select Add a Task

Question (15): Your client, Client A, has a problem. He has several invoices that have not been paid by the customer after the customer became insolvent.

• Another client, Client B, needs to adjust invoices because of small overpayments by the customer on a series of invoices dating back six months.
• Which client or clients would need to use the Write-off invoices feature of QuickBooks Online to get their books corrected, and can they perform the task themselves?

Select the option that has the correct answer for both parts of the Question.

Answer:

Only Client A would benefit from the Write-off Invoices tool; No, the feature is only available to Accountant users via the Accountant Toolbox

Question (16): You have a client who needs a QuickBooks Online solution that includes tracking for sales and sales tax. Which subscription level in QuickBooks Online would you recommend?

Answer:

Simple Start, Essentials, or Plus

Question (17): Taking care of pay reports for employees and subcontractors is a key task when preparing for the year-end. Which of the 2 forms below would need to be sent?

Answer: 

• W-2s are submitted for employees
• 1099s for subcontractors

Question (18): Which subscription option, if any, includes online banking, access from any device at any time, and integration with a wide range of apps?

Answer:

All QuickBooks Online Subscription levels.

Question (19): When would you need to reclassify transactions, and how would you do it in QuickBooks Online? Select the option that answers both parts of the Question correctly.

Answer:

To clean up large uncategorized expense accounts; go to Reclassify transactions in the Accountant Toolbox

Question (20): You can find the link to the Voided/Deleted Transactions tool by selecting the ___________________. Which option correctly completes the sentence?

Answer: Accountant Toolbox

Question (21): What steps are to import a list of products and services in QuickBooks Online?

1. Select + New icon > Tools column > Import Data > Products and Services
2. Select Accountant Tools > Tools column > Import Data > Products and Services
3. Select Gear icon > Tools column > Import Data > Products and Services
4. Select Gear icon > Account and Settings > Advanced > Import

Answer:

3. Select Gear icon > Tools column > Import Data > Products and Services

Question (22): Which statement is true regarding the Preferred Vendor field in Product and Services items?

1. You can add more than one preferred vendor to each product/service item
2. You can create a new vendor from the product/service information screen
3. Preferred vendors must be assigned to utilize the Price rules feature
4. You can reorder your list of preferred vendors

Answer:

2. You can create a new vendor from the product/service information screen

Question (23): What are 2 ways to add a customer to QuickBooks Online?

1. Sales > Customers > Add New
2. + New > Add Customer
3. Sales > All Sales
4. Gear icon > Add Customer
5. Gear icon > Import Data

Answer: 

1. Sales > Customers > Add New

4. Gear icon > Add Customer

Question (24): Which of the following buttons could you use to add a new vendor or find the link to import a vendor list into QuickBooks Online?

1. The New Vendor button in the Vendors tab of the Sales screen
2. The New Vendor button in the Vendors tab of the Expenses screen
3. The New Vendor button in the Expenses tab of the Expenses screen
4. The Enter Vendor Details button in the Expenses tab of the Sales screen

Answer:

2. The New Vendor button in the Vendors tab of the Expenses screen

Question (25): Where should you go to set up a new bank feed or link to a bank account in a client’s QuickBooks Online company?

1. Expenses Center
2. Accounting Center
3. Sales Center
4. Banking Center

Answer:

4. Banking Center

Question (26): In QuickBooks Online, what 4 data points do you need to set up sales tax for a client who only does business in their home state?

1. Their company address
2. Whether they have any criminal convictions
3. Whether they travel to other countries
4. When their last sales tax period started
5. How often do they have to file a sales tax return
6. When they started collecting sales tax for the agency

Answer: 

1. Their company address

4. When their last sales tax period started

5. How often do they have to file a sales tax return

6. When they started collecting sales tax for the agency

Question (27): Which 4 methods allow clients to process digital payments from customers using QuickBooks Online Payments?

• Running a card through a card reader attached to a mobile device
• Entering payments manually as a Receive Payment
• Taking client payments via cryptocurrency
• Entering payments manually as a Sales Receipt
• Entering payments manually as a Credit Memo
• Sending a Sales Receipt to a customer via email
• Taking client payment via the Pay Now button on an emailed Invoice

Answer: 

• Running a card through a card reader attached to a mobile device
• Entering payments manually as a Receive Payment
• Sending a Sales Receipt to a customer via email
• Taking client payment via the Pay Now button on an emailed Invoice

Question (28): Your client wants to open a new QuickBooks Payments merchant account. From inside QuickBooks Online, where can they go to sign up?

1. In the Usage tab of Account and Settings
2. In the Advanced tab of Account and Settings
3. In the Payment tab of the Account and Settings
4. In the Billing and Subscription tab of Account and Settings

Answer: 

3. In the Payment tab of the Account and Settings

Question (29): Which 2 team user roles have permission to view and search for apps using the Apps tab in QuickBooks Online Accountant?

1. Firm Master Admin
2. Full Access Team User
3. Custom Team User
4. Basic Team User

Answer: 

1. Firm Master Admin
2. Full Access Team User

Question (30): Where can a Master Admin Accountant User view the apps connected to a client’s QuickBooks Online account from within QuickBooks Online Accountant?

1. Select the client from the Client List to open the Client Detail Page > Bookkeeping > View Connected Apps
2. Left Navigation Bar > Apps > Client Apps
3. In the Connected Apps column on the Client List dashboard
4. Gear icon > Apps > Client Apps

Answer: 

4. Gear icon > Apps > Client Apps

Question (31): Which are the 3 payroll options available inside QuickBooks Online companies?

1. QuickBooks Online Do-it-Yourself Payroll
2. QuickBooks Online Core Payroll
3. QuickBooks Online Premium Payroll
4. QuickBooks Online Elite Payroll
5. QuickBooks Online Self-Service Payroll

Answer: 

2. QuickBooks Online Core Payroll

3. QuickBooks Online Premium Payroll

4. QuickBooks Online Elite Payroll

Question (32): Which 3 features should you suggest to your clients to build their brand recognition on sales forms?

1. Customize your fonts and use a font type that matches the company’s branding scheme
2. Add the company logo to customer sales forms
3. Use the standard template with no customization
4. Add a splash of color that matches the company’s branding scheme
5. Select a default payment method

Answer: 

1. Customize your fonts and use a font type that matches the company’s branding scheme

2. Add company logo to customer sales forms

4. Add a splash of color that matches the company’s branding scheme

Question (33): Your client has called for help with their bank feeds in QuickBooks Online. You begin by asking them to open the Banking tab in the Left Navigation bar, and your client tells you that she doesn’t see this option listed.

What could be the reason?

• Your client doesn’t have bank feeds enabled
• Your client has Business View selected in their settings
• Your client has turned off the Banking option in their settings
• Your client has the Simple Start subscription for QuickBooks Online

Answer: 

Your client doesn’t have bank feeds enabled

Question (34): What are the 3 benefits of adding non-QuickBooks Online clients to your Client List in QuickBooks Online Accountant?

1. You can keep all client contact info, notes, and documents in one place
2. You can access all your ProConnect Tax Online clients from the same dashboard
3. You can launch your QuickBooks Desktop client companies directly from the Client Dashboard
4. You can create projects and tasks for non-QuickBooks Online clients in the Work tab to stay on top of important client deadlines
5. You can share documents stored in QuickBooks Online Accountant with the client

Answer: 

1. You can keep all client contact info, notes, and documents in one place
2. You can access all your ProConnect Tax Online clients from the same dashboard
3. You can create projects and tasks for non-QuickBooks Online clients in the Work tab to stay on top of important client deadlines

Question (35): A user 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?

XLS or XLSX

• CSV
• JPEG
• PDF
• DOC

Answer: 

CSV, PDF

Question (36): Depending on the way your practice works, you may need to give team members different access levels based on their roles.

What are the 3 levels of access that can be granted to Team users of QuickBooks Online Accountant?

• Full access
• VIP access
• Basic access
• Custom Access
• Standard access

Answer: 

Full access, Basic access, Custom Access

Question (37): What is the correct process for setting up a recurring project for the same client?

• Create a new project and select the Repeat button, then set the frequency and duration
• Create the project and save it. Reopen the project and select the Duplicate button for the number of times you want it to recur
• You can’t repeat projects, only tasks

Answer: 

Create a new project and select the Repeat button, then set the frequency and duration

Question (38): Based on the relationship and agreement with the vendors, what are the 2 vendor workflow options to pay your vendors?

1. Bill > Pay Bills
2. Invoice > Receive Payment > Create Deposit
3. Create Purchase Order
4. Expense or Check
5. Delayed Charge > Pay Bills

Answer: 

1. Bill > Pay Bills

3. Create a Purchase Order

Question (39): Look at these two sentences about Undeposited Funds:

By posting to Undeposited Funds, you can create a single bank deposit for multiple payments, making it easy ___________.

When receiving a payment, make sure _________________.

Which option correctly fills in these two sentences?

1. To match your bank register with your bank statement; 2. The Deposit to the account is Checking

1. To match your bank register with your bank statement; 2. The Deposit to the account is Uncategorized Funds

1. To match your expenses with your bank statement; 2. The Deposit to the account is an Uncategorized asset

1. To match your bank register with your bank statement; 2. The Deposit to the account is Undeposited Funds

Answer: 

1. To match your bank register with your bank statement; 2. The Deposit to the account is Undeposited Funds

Question (40): Someone is teaching his/her client proper vendor workflow.

What is the correct workflow?

• Purchase Order > Pay bill
• Bill > Print checks
• Bill > Pay bill
• Invoice > Pay bill

Answer: 

Purchase Order > Pay bill

Question (41): When the Sales Tax feature is enabled in QuickBooks Online, where must you record sales tax payments?

• Create Bill
• Sales Tax Center
• Create Check
• Pay Bills

Answer:

Sales tax center

Question (42): What are 2 tools you can use to identify possible issues in a QuickBooks Online company?

• Transaction Journal
• Import Data
• Account and Settings
• Audit Log
• Journal Entry

Answer:

• Transaction Journal
• Audit Log

Question (43): What steps are to create a new estimate in QuickBooks Online?

• Projects > All Sales > New Transaction > Estimate
• Sales > Customers > New Customer
• Sales > All Sales > New Transaction > Estimate
• Gear icon > Estimate

Answer:

Sales > All Sales > New Transaction > Estimate

Question (44): Stacy wants to run reports that tell her which vendors provide the best prices on the products she sells.

Which 2 vendor workflows in QuickBooks Online enable her to create reports with this data?

1. Create Bill with product/service items > Pay Bill
2. Create Expenses with product/service items
3. Create Expenses with account/category detail
4. Create an Invoice with product/service items
5. Create Bill with account/category detail > Pay Bill

Answer:

• Create Bill with product/service items > Pay Bill
• Create Expenses with account/category detail

Question (45): Which report should you run to list all customers who currently owe balances, and how old those balances are?

• Accounts Payable Aging Summary
• Accounts Receivable Aging Summary
• Balance Sheet
• Trial Balance

Answer:

Accounts Receivable Aging Summary

Question (46): Kathryn is concerned about her cash flow and wants to know how much she spent with each of her vendors last month.

Which report in QuickBooks Online would provide that information?

• Accounts Payable Aging
• Profit and Loss
• Balance Sheet
• Expenses by Vendor Summary

Answer:

Expenses by Vendor Summary

Question (47): _________ is designed to support the most common workflows and tasks to close a client’s monthly books.

It consists of the following three workflow tabs:

__________

__________

__________

Fill in the blanks.

1. Month-end review, Transactions, Accountant review, Final review
2. Overview, Transaction review, Accountant reconciliation, Final review
3. Month-end review, Transaction review, Account reconciliation, Final review
4. Overview, Transactions, Accountant review, Final review

Answer:

2. Overview, Transaction review, Accountant reconciliation, Final review

Question (48): The first stage in the month-end process is reviewing transactions and recognizing any possible issues.

What are the 2 open issues that can be viewed from the Transaction review tab?

• Reclassified transactions
• Uncategorized transactions
• Transactions without payees
• Transactions without accounts
• Transactions with attachments

Answer:

• Uncategorized transactions
• Transactions without payees

Question (49): To keep track of her team, Esther has requested that the status of each task be updated in the Month-end review tabs.

What are the 3 status options?

• Open, pending, done
• To do, waiting, complete
• Open, pending, and complete
• To do, waiting, do

Answer:

Open, pending, and complete

Question (50): What are the 2 limitations of the Reclassify Transactions tool?

• You can’t change the payment bank account when reclassifying expenses
• You can’t change the Classes when reclassifying expenses
• You can’t change the Locations when reclassifying expenses
• You can’t change the account for inventory adjustments
• You can’t change the Classes for deposit types

Answer:

• You can’t change the payment bank account when reclassifying expenses
• You can’t change the Classes for deposit types

Question (51): When should an Accountant user use the Write-Off tool?

• When a client has overpaid
• When a client has outstanding invoices that will not be paid
• When you wish to remove a duplicate transaction
• When a user wants to categorize several transactions quickly

Answer:

When a client has outstanding invoices that will not be paid

Question (52): Where can you find the link to the Voided/Deleted Transactions tool?

• Accountant Tools
• Gear icon
• + New icon
• Banking screen link in the Left Navigation Bar

Answer:  

Accountant Tools

Question (53): What are 4 options you can access via Accountant Tools?

1. Reclassify transactions
2. Reconcile
3. Recurring transactions
4. Close books
5. Reports options
6. Audit log
7. My Experts

Answer: 

1. Reclassify transactions

2. Reconcile

3. Recurring transactions

5. Reports options

Question (54): IRS guidelines require specific information to substantiate deductible automobile expenses.

Which 3 items are included in the substantiation requirements?

• Vehicle type, date placed in service, and total mileage (including business, commuting, vacation, and personal)
• Vehicle type, the number of days driven, and the total mileage (including business, commuting, vacation, and personal)
• Vehicle type, date placed in service, and total mileage (including business, commuting, and personal)
• Vehicle type, the number of days driven, and the total mileage (including business, commuting, and personal)

Answer: 

Vehicle type, date placed in service, and total mileage (including business, commuting, vacation, and personal)

Question (55): You have set a closing date with a password. Can your client make changes and if so, how would you track any changes to transactions within the closed period?

1. Yes, but only if they know the password. There is no way to track changes
2. No. Even if they know the password, they can’t change transactions on or before the closing date. Only the accountant can track changes
3. Yes, but only if they know the password. Changes are flagged in an exception to the Closing Date report
4. Yes, they can change transactions even without the password. Changes are flagged in an exception to the Closing Date report

Answer:

3. Yes, but only if they know the password. Changes are flagged in an exception to the Closing Date report

Why might an Accountant user not see the Exceptions to Closing Date report in a QuickBooks Online company?

Question (56): Why might an Accountant user not see the Exceptions to Closing Date report in a QuickBooks Online company?

• A closing date has not been set in the company
• The Accountant user does not have the required permissions to view the report
• The Exceptions to Closing Date report is not available in a Simple Start subscription
• The Audit Log is not enabled

Answer:

The Accountant user does not have the required permissions to view the report.

Question (57): When using the Copy to Purchase Order feature from within an Estimate, where do you need to turn on Use Purchase orders?

1. Account and Settings > Products and Services
2. Expenses > Purchase orders
3. Account and Settings > Expenses > Purchase orders
4. Vendors > Purchase order

Answer:

3. Account and Settings > Expenses > Purchase orders

Question (58): Different customer statement types are available to suit different client situations. Heather wants to help her client send out a statement that reflects all unpaid invoices, unapplied payments, and Credit Memos.

Which statement type should she choose?

• Balance Forward
• Open Item
• Transaction Statement
• Client Open Balance

Answer: 

Open Item

Question (59): What are 2 ways to access the vendor credit screen in QuickBooks Online?

Sales Center > New Invoice

1. Gear icon > Vendor Credit
2. Expenses Center > Import Transactions
3. + New button > Vendor Credit
4. Expenses Center > New Transaction > Vendor Credit

Answer:

3. + New button > Vendor Credit

4. Expenses Center > New Transaction > Vendor Credit

Question (60): When might you use the Bank Deposit Transaction?

1. Your client wants to apply a customer payment to an open invoice
2. Your client wants to record an SBA loan amount received
3. Your client wants to record sales from her upcoming trade show and provide sales receipts
4. Your clients want to refund a customer

Answer:

2. Your client wants to record an SBA loan amount received

Question (61): Where can a client identify the instant deposit options for their QuickBooks 

Payments account?

Deposits tab

1. Account and Settings
2. Invoices tab
3. Create Invoice screen
4. Banking Center

Answer: 

Account and Settings

Question (62): What is the additional percent fee when using QuickBooks Payments Instant Deposits?

• 2
• 1.5
• 1
• 2.5

Answer: 

3. 1

Question (63): Which 3 statements are true about journal entries?

• Total debits must equal total credits
• You can post to Products and Services in a journal entry
• When posting to the accounts receivable account, you must specify a vendor
• When posting to the accounts receivable account, you must specify a customer
• You can post to multiple accounts receivable and/or accounts payable accounts in the same journal entry

Answer:

• Total debits must equal total credits
• When posting to the accounts receivable account, you must specify a customer
• You can post to multiple accounts receivable and/or accounts payable accounts in the same journal entry

Question (64): The Pay down credit card feature can be found in which area of QuickBooks Online?

• Gear icon
• + New on the Left Navigation Bar
• Account and Settings
• Banking Center

Answer: 

+ New on the Left Navigation Bar

Question (65): 

1. Select the + New button from the Left Navigation Bar

2. Select _______ in the Other column

3. Select the credit card account that is being paid

4. Select the ____________, if applicable

5. Enter how much was paid

6. Enter the date of payment

7. Select the account the payment is being made from next to “What did you use to make the payment?”

8. Select ______________.

Which option completes the 3 missing steps to use the Pay down credit card feature?

1. Pay down your credit card, and account number, Submit the payment
2. Transfer, Payee, Schedule payment
3. Pay down the credit card, Payee, and Save
4. Transfer, account number, Save

Answer: 

3. Pay down the credit card, Payee, Save

Question (66): Your client wants to transfer $500 from their checking account into a savings account to cover tax liabilities for sales made last month.

Where should your client go to find the Transfer link?

• Gear icon
• + New
• Sales screen
• Banking screen

Answer: 

Banking screen

Question (67): 

One major benefit of using the Bank Feeds feature in QuickBooks Online is that as you _________________ or __________________ transactions in QuickBooks Online from the downloaded transactions from the bank, they are marked ___________________. This makes the end-of-period bank reconciliation more efficient.

Which option correctly completes these statements?

• Record, delete, and reconcile
• Match, exclude, cleared
• Match, add, cleared
• Exclude, add, and reconcile

Answer: 

Exclude, add, reconciled

Question (68): A user accidentally added a new transaction to his/her bank register via the bank feed that should have been matched to an existing transaction.

Where in the Banking Center should she/he go to find the transaction and correct the error?

• Gear icon
• Filter
• For Review
• Categorized

Answer:

Categorized

Question (69): How can you filter the For Review tab to see all the transactions QuickBooks Online thinks it has found a good match for?

• Select the All transactions drop-down, then Matched
• Select the All transactions drop-down, then Recognized
• Click on the Gear icon, then select Show only matches
• Select the All Transactions drop-down, then Included

Answer: 

Select the All transactions drop-down, then Recognized

Question (70): MB has been using proper workflow for her sales process by creating invoices, receiving payments, and recording deposits using the transaction screens in QuickBooks Online. Most likely, she will be able to ___________ downloaded deposits to ____________ transactions in the Banking Center.

Which option correctly completes the sentence?

• Add, new
• Add, existing
• Match, existing
• Match, new

Answer: 

Match, existing

Question (71): Which option correctly explains the steps to enable email receipt forwarding in QuickBooks Online?

• Gear icon > Account and Settings > Expenses > Receipts > Register your email to get started
• Gear icon > Account and Settings > Advanced > Automation > Turn on receipt forwarding
• Banking > Receipts > Turn on receipt forwarding
• Banking > Receipts > Forward from email

Answer: 

Gear icon > Account and Settings > Expenses > Receipts > Register your email to get started

Question (72): The Receipt Capture feature in QuickBooks Online allows users to add receipts to QuickBooks using which 3 methods?

• By forwarding an email to [youruniquename]@qbodocs.com from a registered email
• By forwarding an email to companyname@quickbooks.com from a registered email
• By snapping a picture via the mobile app
• By snapping a picture via a browser
• By uploading a file via a browser
• By texting receipts@quickbooks.com

Answer: 

• By snapping a picture via the mobile app
• By uploading a file via a browser
• By texting receipts@quickbooks.com

Question (73): In which 2 situations might a transaction need to be excluded from bank feeds?

• If the downloaded transaction was already recorded and reconciled in QuickBooks Online
• If the bank downloads the same transaction more than once
• If the posting date and actual payment date don’t match in the bank feed
• If the bank description doesn’t match the payee’s name

Answer: 

• If the downloaded transaction was already recorded and reconciled in QuickBooks Online
• If the bank downloads the same transaction more than once

Question (74): Which 3 statements regarding bank rules are true?

• Bank rules can be prioritized
• Bank rules are only included in QuickBooks Online Plus or Advanced subscriptions
• Bank rules can be copied, edited, or deleted
• Only an Accountant user can set up bank rules in QuickBooks Online
• There is an additional fee to use bank rules in QuickBooks Online
• You can automatically add transactions to the register using bank rules

Answer: 

• Bank rules can be prioritized
• Bank rules can be copied, edited, or deleted
• You can automatically add transactions to the register using bank rules

Question (75): Which 2 statements are correct regarding reconciling a bank account in QuickBooks Online?

• You can only undo a bank reconciliation via a link in Accountant Tools
• To successfully reconcile and run a reconciliation report, you need to enter the Statement Ending Date and Ending Balance from the relevant bank statement
• Reconciliations must only be run at the period end to estimate tax owed
• To see the Reconciliation report, select View Report after you’ve successfully reconciled the account

Answer:

• To successfully reconcile and run a reconciliation report, you need to enter the Statement Ending Date and Ending Balance from the relevant bank statement
• To see the Reconciliation report, select View Report after you’ve successfully reconciled the account

Question (76): How would you begin setting up a recurring transaction in QuickBooks Online?

• Select Create > Recurring Transactions
• Select the Gear icon > Recurring Transactions
• Select Accountant Tools > Recurring Transactions
• Select the Gear icon > Account and Settings > Advanced > Enable Recurring Transactions

Answer:

Select the Gear icon > Recurring Transactions

Question (77): What are the names of the three tabs listed across the top of the Reports Center?

• Favorites, Custom reports, Management reports
• The business overview, Favorites, Custom reports
• Standard, Business overview, Custom reports
• Standard, Custom reports, Management reports

Answer:

Standard, Custom reports, Management reports

Question (78): Which report accounting method shows an overview of the money received and spent for a specific period?

• Hybrid basis
• Accrual basis
• Modified basis
• Cash basis

Answer: Accrual basis

Question (79): What reports in QuickBooks Online will show whether a client was profitable for a specific period?

• Balance Sheet
• Accounts Receivable Aging
• Profit and Loss
• Trial Balance

Answer:

Profit and Loss

Question (80): How do you record a debit card transaction in QuickBooks?

Answer:

Use the write check window for the check register, but type debit in the check number field

Question (81): The computer that houses your QuickBooks data could crash. What should you do in QuickBooks to make sure you always have access to your data?

Answer:

Create a backup copy of your company files and store it separately from the computer

Question (82): List entries may be deleted only when:

Answer:

There is no balance, it has not been used and is not linked to anything that has been used.

Question (83): You sent a QuickBooks report to Excel and made some changes. How do you import the change in Excel back to QuickBooks?

Answer:

Use the import from the Excel wizard in QuickBooks

Question (84): Which of the following statements is true regarding single-user and multi-user modes?

Answer:

To use QuickBooks in multi-user mode, each user must have the same version of QuickBooks on their computer to access the same company file

Question (85): Which of the following elements on an invoice can you not customize?

Answer:

The amount of information, and the number of characters you can type in each field.

Question (86): Which statement about creating a client request in QuickBooks Online Accountant is false?

1. You can add attachments by selecting the + Add document link
2. The request is not sent to the client’s email address unless the default setting is changed.
3. The request appears in the client’s QuickBooks Online company in My Accountant
4. If you wish to notify your client of your request with a QuickBooks Online-generated email, select Notify client

Answer: 

2. The request is not sent to the client’s email address unless the default setting is changed.

Question (87):– The Opening Balance Equity account should always be zero. If you see a balance here, it’s most likely because an amount was entered in the opening balance field when?

Answer:– During the creation of a new customer, vendor, balance-sheet account, or inventory product

Question (88):– In the Client Overview Tab under Transaction Volume, what is the latest date you can see?

Answer:–

Up to 30 days

Question (89):– The Accountant User and Clients with the Advanced subscription have access to The Client Overview. What are some benefits of the Client Overview?

Answer:–

Concise subscription information, recent banking activity stats, and early indications of banking errors

Question (90):– What are the five benefits of using apps?

Answer:– 

1. Reduce data entry
2. Solve industry-specific tasks
3. Streamline workflow processes
4. Expand business insight
5. Security and/or separation of duties

Question (91):– All apps are pre-categorized into the tasks they help resolve

Answer:–

By selecting the Browsing Category, you can filter apps by the problem you are trying to solve.

Question (92):– What are the two ways to search an app in QuickBooks Online? 

Answer:–

Using the search box or by category

Question (93):– Which is the most popular time-tracking app available in QBO?

Answer:– 

T-sheet

Question (94):–  What subscriptions would you suggest to track sales and sales tax?

Answer:–

Simple Start, Essentials, Plus, and Advanced

Question (95): During the Advanced Setup, you can turn on and off which features in the EasyStep Interview.

1. Sales taxes
2. Inventory
3. Progress Invoicing
4. All of the above

Answer:

All of the above

Question (96): During the Advanced Setup, you can set up a password for which of the following users during the EasyStep Interview?

1. Administrator
2. External Accountant
3. You cannot set up passwords during the EasyStep interview
4. All users

Answer:

Administrator

Question (97): When setting up a new company through the Advanced Setup, some company information is optional and some are required. Which of the following pieces of information does QuickBooks require you to enter during the EasyStep Interview?

1. Company name
2. Company password
3. Tax ID
4. All of the above

Answer:

Company name

Question (98): How do you set up multiple businesses in QuickBooks (assuming each business files a separate tax return)?

1. Purchase a separate QuickBooks license for each company you need to set up.
2. Use the Advanced Setup to go through the EasyStep interview for the oldest
3. Use the Advanced Setup to go through the EasyStep interview for each company
4. Use the Advanced Setup to go through the EasyStep Interview for the largest company first, and then choose File > Add a separate business at the end of the interview. to create a separate company file.

Answer:

Use the Advanced Setup to go through the EasyStep interview for each company

Question (99): During the Advanced Setup, how do you set up a new account that is not on the default list of accounts during the EasyStep Interview?

1. You can’t add accounts that are not on the QuickBooks default list. Finish the interview and add the accounts directly to the Chart of Accounts.
2. Click Add new account in the EasyStep Interview.
3. Click Edit Account during the EasyStep Interview.
4. Select Import My Chart of Accounts during the EasyStep Interview.

Answer:  You can’t add accounts that are not on the QuickBooks default list. Finish the interview and add the accounts directly to the Chart of Accounts.

Question (100): You’ve been hired by a company that started in 1911. They’ve never used QuickBooks. During the Advanced Setup, what “Start Date” should you use in the EasyStep Interview?

1. There is no Start Date in the EasyStep Interview.
2. The date the company bought QuickBooks.
3. 1911
4. The date you want to begin tracking the company’s finances in QuickBooks.

Answer:

The date you want to begin tracking the company’s finances in QuickBooks.

Question (101): How do you restore a company file from a backup copy?

1. Choose File > Back Up. Then click the Restore from the Backup button.
2. Choose File > Utilities > File Operations > Restore.
3. Choose File > Open or Restore Company. Select Restore a backup copy and click Next. Choose Local or Online Backup and click Next. Select the file to restore and click Open. Decide where to restore the file and click Save.
4. Click the Restore icon on the Home page. Click the Next option.

Answer: 

Choose File > Open or Restore Company. Select Restore a backup copy and click Next. Choose Local or Online Backup and click Next. Select the file to restore and click Open. Select where to restore the file and click Save.

Question (102): Which of the following is NOT a backup option in QuickBooks?

1. Manually back up the file.
2. Automatically back up the data file when closing QuickBooks.
3. Schedule an unattended backup
4. All of the above are QuickBooks backup options.

Answer: 

All of the above are QuickBooks backup options.

Question (103): Why would you restore a data file from the backup file?

1. You wish to review the company data as it stood at an earlier date.
2. The company data file on your hard drive is damaged and cannot be used.
3. Your computer crashed. You reloaded QuickBooks, and now you are ready to open the company file.
4. All of the above.

Answer: All of the above

Question (104): How do you switch to Multi-User Mode?

1. Choose Company > Set Up Users and Passwords > Set Up Users from the
2. Open the data file from a remote location.
3. Choose Edit > Preferences > Multi-User from the menu.
4. Choose File > Switch to Multi-user Mode from the menu.

Answer:

Choose File > Switch to Multi-user Mode from the menu.

Question (105): If you decide to remove transactions as of a specific date from the “Condense Data” window, what does QuickBooks do?

1. Removes all payroll transactions that occurred on that date. This is a great way to fix the mistakes a new person made on a particular day.
2. Removes all transactions while leaving lists, preferences, and service subscriptions intact.
3. Changes the company’s start date.
4. Deletes all transactions, as well as user passwords and access privileges.

Answer:

Removes all transactions while leaving lists, preferences, and service subscriptions intact.

Question (106): What happens when you press F2 in QuickBooks?

1. Nothing, because function keys are not designed to work with QuickBooks.
2. QuickBooks opens the Help.
3. QuickBooks opens the Product Information window, which includes version and company file information.
4. QuickBooks closes all windows.

Answer:

QuickBooks opens the Product Information window, which includes version and company file information.

Question (107): When would you enter a journal entry?

1. To correct errors (if you have a strong accounting background)
2. For year-end adjustments
3. To enter depreciation
4. All of the above

Answer:

All of the above

Question (108): If the computer that houses your QuickBooks data crashes, what should you do?

1. Restore a backup copy of your company file
2. Create a backup copy of your company file
3. Condense your company file data
4. Export your data to Excel

Answer: 

Restore a backup copy of your company file

Question (109): When you start a company or are hired as a bookkeeper, it is important to know which edition of QuickBooks you are using. What are the major QuickBooks editions?

1. QuickBooks Online, QuickBooks Pro, QuickBooks Premier, QuickBooks Enterprise Solutions
2. QuickBooks Online, QuickBooks Basic, QuickBooks Pro
3. QuickBooks Basic, QuickBooks Pro
4. QuickBooks Premier, QuickBooks Enterprise Solutions

Answer: 

QuickBooks Online, QuickBooks Pro, QuickBooks Premier, QuickBooks Enterprise Solutions

Question (110): Which of the following could explain why a profit and loss show a profit, but the business owner doesn’t have any money in the bank?

Answer:

This is the difference between cash and accrual reporting.

Question (111):- You have to set up the item for shipping. What item type should you use?

Answer: 

Other charges

Question (112):- Which of the following elements on an invoice can you not customize?

Answer:

The amount of information, and number of characters you can type in each field.

Question (113):- Your company just hired a contractor to work 40 hours per week on a job. Which list should you add this person to?

Answer:

Vendor

Question (114):- Where would you go in QuickBooks Online to see the range of default and extra lists that are available?

1. Sales Center > Settings > All Lists
2. + New button > All Lists
3. Gear icon > All Lists
4. Sales Center > Settings > Add Lists

Answer: 

2. + New button > All Lists

3. Gear icon > All Lists

Question (115):- Where would you go to find all the lists you can use to fill in forms in QuickBooks Online?

1. Gear icon > All Lists
2. + New icon > All Lists
3. Accounting screen > All Lists
4. Reports screen > All Lists

Answer: 

1. Gear icon > All Lists

Question (116):- Which 3 navigation features are missing in a Reports Only user’s view?

• Navigation panel
• Search box
• + New button
• Gear icon
• Help menu

Answer: 

• Navigation panel
• + New button
• Gear icon

Question (117):- What types of user permissions can you set up when adding a new team member in QuickBooks Online Accountant?

• Regular or custom user, Company administrator, Reports only, and Time Tracking only
• Basic, Custom, and Full Access
• Regular or custom user, Company administrator, and Reports only
• Regular or custom user and Company Administrator

Answer: Basic, Custom, and Full Access

Question (118):- The majority of your time working with QuickBooks Online will be spent utilizing a form, a list, or a:

Answer:-

Register

Question (119):- When you select the Paycheck List tab, you will be sent to the Payday tab where you can view and print checks, delete checks, or change check numbers. The statement is true or false:

Answer:-

True

Question (120):- What would you do to organize the Vendors list in the Vendor Center if you found two or more names with a similar spelling that belonged to the same vendor?

Answer:-

Merge similar vendor names

Question (121):- To view cleared checks, which account register do you open?

Answer:-

Checking account

Question (122):- Which of these transactions involving the vendor cannot be started with a single click from the “Quick Create” menu:

• Create new vendor
• Write Check
• Cash Expense
• Vendor Refund

Answer:-

Create a new vendor

Question (123):- Why is creating a password and closure date highly advised?

Answer:- It sends an automatic email to the accountant

Question (124):- Which of the following Company Settings needs to be chosen to enable online invoices:

• HTML emails
• Include the invoice as a PDF attachment
• Include sales forms as PDF attachments
• Email a link to customers to pay invoices online

Answer:- Email a link to customers to pay invoices online

Question (125):- Where in QuickBooks Online is the transfer funds feature?

• Banking tab
• Home page
• Quick create
• Transactions tab

Answer:-

Quick create

Questions (126):- What are QuickBooks’ two main reports?

Answer:-

The balance sheet and the profit and loss report are the two main reports in QuickBooks.

Questions (127):- What is the most recent date you may see under Transaction Volume in the Client Overview Tab?

Answer:-

Upto30 days

Question (128):- For each functional area QuickBooks, Pro & Premier, for example, sales and accounts receivable, purchases, and accounts, etc. What level of access can you grant to use it?

Answer:

You can prohibit access, grant access or grant selected access. These levels, all transactions within that area.

Question (129):- Which of the following is not a billing option when you prepare a progress invoice?

Answer:

Invoice for hours entered on the timesheet.

Question (130):- Which list represents the payroll services you can add to QuickBooks?

Answer:

Basic calculates taxes and helps create state and federal tax forms and assisted intuit handles payroll taxes and forms

Question (131):- Which of the following additions of QuickBooks supports multi-users?

Answer:

All versions support multi-users.

Question (132):- What can you do in the report center?

Answer:

Run most reports in QuickBooks.

Question (133):- How can you open a QuickBooks report in Microsoft Excel?

Answer:

Click the Excel button on the top of any QuickBooks report.

Question (134):- Which two steps do you follow to track accounts payable in QuickBooks?

Answer: Enter bills, pay bills.

Question (135):- How do you display a group of reports?

Answer:

Click the reports menu and select process multi-reports.

Question (136):- Your company supplies them with sick, vacation hours. You need to track how many hours that each employee currently has available, how many they earn, accrued hours when you pay them for sick or vacation time. How do you do this in QuickBooks?

Answer:

Follow these steps: 

• Click the sick, vacation button in employees setup to define how to approve time and to tell QuickBooks how many hours the employee has available. 
• Setup a sick, vacation wage item. Use a sick, vacation wage item to pay employees for sick, vacation time.

Question (137):-

Which payroll service allows you to print state tax forms?

Answer: Enhanced payroll

Question (138):-

Which of the following transactions cannot be memorized?

Answer: Bill payment

Question (139):-

How do you ensure that no one accidentally deletes, edits, or adds transactions to last year?

Answer:

Set a closing date and password in the accounting preferences or from the company menu.

Question (140):-

How do you make a column on a report wider?

Answer:

Click the diamond to the right side of the column and drag it to the right.

Question (141):-

How do you pay, payroll liability in QuickBooks?

Answer:

Select the payment you want to make from the pay schedule liability. Select view pay.

Question (142):-

What is the purpose of the audit trail report?

Answer:

Track any changes or deletions to transactions as well as track which users make the changes or deletions.

Question (143):-

You accidentally entered a customer twice in the customer center with a slightly different spelling. How do you merge these two entries?

Answer:

Edit the unwanted list entry; change the name to match the name you want to merge into. Click ok, then click yes when prompted to merge names.

Question (144):-

Your company had to return some goods to a vendor. How do you record the vendor credit in QuickBooks?

Answer:

Click the enter bills then click credit on top of the bill.

Question (145):-

When you set up a new employee, how do you add a payroll deduction such as medical insurance?

Answer:

In the new edit employee window, click the change tab drop-down window, select payroll and compensation information, then add the medical insurance payroll into the addition/deletion and company compensation section.

Question (146):-

What is the result of the payroll setup interview?

Answer:

QuickBooks has an accurate record of employees’ earnings and deductions and payroll history and you are ready to create your first paycheck.

Question (147):-

Two primary financial statements summarize the chart of accounts.

Answer: Balance sheet

Question (148):-

Once you have completed the sign of the new company file, how do you change company information such as business name, address, or phone number?

Answer: Select company information from the menu.

Question (149):-

Suppose you work for a pet store and have to track the name of each customer’s pet. How would you do this in QuickBooks?

Answer: Add a custom field to the customer list

Question (150):-

The company file you are working on is a mess. You decided to start a new file. To save time, you want to keep all the lists and preferences and just delete the transactions. How do you do this?

Answer:

Click the file menu. Select utilities, condense data from the menu then choose the all transaction option.

Question (151):-

Which is an example of when to use a non-inventory part?

Answer:

When you buy and sell an item but do not need to track quantity on hand information.

Question (152):-

Which of the following cannot be entered during the setup of a new company?

Answer: Trail balance, open balance

Question (153):-

When you enter profit and loss on the accrual basis what does QuickBooks include as income?

Answer: All sales.

Question (154):-

When should you void instead of deleting a check?

Answer: Use a check number but it will never be cashed.

Question (155):-

Your company sells unique items to every customer. Then never sell the same product or service twice. What item should you set up in QuickBooks?

Answer: 

Set up a generic item and edit the description and price and time.

Question (156):-

Which of the following form templates cannot be customized in QuickBooks?

Answer: Check

Question (157):-

Which is not a good reason to enter a general journal entry?

Answer: 

To avoid using the built-in forms.

Question (158):-

The bank notifies you that a customer’s check you have deposited has bounced. The customer did not have sufficient funds to cover the check. What should you not do?

Answer: 

Delete the customer’s payment from the deposit.

Question (159):-

How do you change the text in the header/footer report?

Answer: 

Click the customize button on the report and then click the header/footer tab.

Question (160):-

Why would you hide or collapse subaccounts on a report?

Answer: 

To temporarily hide unnecessary detail and hide parent accounts.

Question (161):-

What should you do after you click save and close on a customer credit memo?

Answer: 

Choose between retained as available credit, give a refund or apply to an invoice.

Question (162):-

The bank notified you that a customer’s check you deposited had bounced. The customer did not have sufficient funds to cover the check. What should you do?

Answer: 

Record a transaction to show the customer owes you the money and that the checking balance has decreased by the same amount.

Question (163):-

Suppose you always want all reports to show a specific size and color, how do you set the standard or preference in QuickBooks so you don’t have to customize each report?

Answer: 

Click the Edit menu and select preferences to click the reports and graphs group to set your report preferences.

Question (164):-

Suppose you want to restrict which users can access customer credit card numbers. How do you do this?

Answer: 

Give the user access to sales and accounts receivable but do not check the complete credit card numbers.

Question (165):-

Which accounts are affected when you enter time in QuickBooks?

Answer: Accounts Receivable

Question (166):-

If you have a customized report that you use each month, which features let you run their ports with updated data each month?

Answer: Memorize Report

Question (167):-

What is the primary reason for setting a closing date in QuickBooks?

Answer: 

To restrict users from deleting, editing, or adding transactions to last year.

Question (168):-

Your new employee earned an annual salary of $40,000. How do you enter this into QuickBooks?

Answer: Enter 40,000 in the payroll info window.

Question (169):-

What steps must you complete to use the payroll center to pay payroll liabilities?

Answer: Set deposit frequencies

Question (170):-

Name the section of the Balance Sheet

Answer: Assets, Liabilities & Equity

Question (171):-

When you create a new company file, QuickBooks asks for your start date. What is the best definition of start date in QuickBooks?

Answer: 

The day you choose to start recording the financial records in QuickBooks.

Question (172):-

How do you use a different forms template when creating a new transaction? (i.e. Invoice)

Answer: 

Open the form, click the templates dropdown list and select the appropriate form.

Question (174):-

How do you change the report basis, accrual vs. cash for just one report?

Answer: 

Click the modify report button on the report and then choose accrual or cash on the display pad.

Question (175):-

How would you track customer birth dates in QuickBooks?

Answer: Add a custom field to the customer list.

Question (176):-

How do you change the text in the header/footer of a report?

Answer: 

Click the modify report button on the report and then change the header/footer tab.

Question (177):-

Where can you see a thumbnail sample of each report in QuickBooks along with a description of what the report tells you?

Answer: Report center.

Question (178):-

What transaction in QuickBooks should you use if your customer pays you when you provide the goods or services?

Answer: Sales Receipt.

Question (179):-

How can you ensure that invoice detail does appear on a customer statement?

Answer: 

Uncheck the show invoice item detail on the statement’s box in the create statements window.

Question (180):-

What is the purpose of backing up in QuickBooks?

Answer: 

To protect against data loss from file corruption or a hard file crash.

Question (181):-

How do you add or delete columns on a report?

Answer: 

Click the modify report button and on the display tab check or add or uncheck remove columns.

Question (182):-

When should you use the items tab on a bill or check?

Answer:  When you purchase inventory parts.

Question (183):-

When you are setting up a service item, what happens if you select the box next to this “service is performed by a subcontractor or partner”?

Answer: 

QuickBooks provides fields so you can track purchase and sales information for that item.

Question (184):-

The Product Information window shows you the version and release of QuickBooks you have along with other information about the company file. How do you access the Product Information window?

Answer: Press the F2 key.

Question (185):-

When making your payroll tax deposit, how can you add IRS interest and/or penalties?

Answer: 

Click the Expense tab and enter the appropriate account and amount of interest and penalties.

Question (186):-

When can you delete a check from QuickBooks without voiding it?

Answer: 

You entered a check-in QuickBooks but haven’t printed it yet. You realize the purchase was made using a credit card. The check was never really used.

Question (187):-

What tool do you use to move your logo to a form?

Answer: Layout Designer.

Question (188):-

What is the reason for not being able to delete a list entry?

Answer: The entry has been used in a transaction.

Question (189):-

How do you move list entries to a different location on the list? For example, customers.

Answer: 

Click on the diamond to the left of the name and then drag the name up or down the list.

Question (190):-

Assume that QuickBooks is now in Single User Mode. What does this mean?

Answer:  Only one user can access the data file.

Question (191):-

How can you ensure that the invoice details are on a customer statement?

Answer:  Turn on invoice detail in the customer statement window.

Question (192):-

How can you open a QuickBooks report in Microsoft Excel?

Answer: Click the Export button on the top of any QuickBooks report.

Question (193):-

What is the Accountants’ copy?

Answer: 

A copy of a company file that allows the accountant to review and make adjustments while you can continue to work in QuickBooks.

Question (194):-

What 2 steps do you follow to track accounts payable in QuickBooks?

Answer: Enter bills, pay bills

Question (195):-

How do you hide subaccounts on a report?

Answer: Click the collapse button.

Question (196):-

Your company had to return some goods to a vendor. How do you record the vendor credit in QuickBooks?

Answer: Enter bill then click credit on top of the bill.

Question (197):-

What do you use to narrow the data QuickBooks displays on a report?

Answer: Filter.

Question (198):-

Once the Easy Step interview is complete, how do you change the company information for the business name, address, or phone number?

Answer: Select File, Easy step interview.

Question (199):-

What are the Undeposited Funds accounts in QuickBooks?

Answer: 

An account is used to record payments before you make a deposit.

Question (200):-

What is the result of a payroll setup interview?

Answer: 

QuickBooks has an accurate record of employees, earing deductions, and payroll history and you are ready to create the first paycheck.

Question (201):-

You finished entering all the transactions for last year, and just send the file to the tax preparer. How do you assure that no one accidentally deletes or edits a transaction last year?

Answer: 

Set the closing date and password in the accounting preferences in the company menu

Question (202):-

How do you identify the version and release of QuickBooks you have?

Answer: Press the F2 button.

Question (203):-

When you set up a new employee, how do you add a payroll deduction such as medical insurance?

Answer: 

In the new employee window, click the change tab drop-down list and select payroll and compensation info, and then add the medical insurance payroll item below the additions deductions and company contributions.

Question (204):-

When should you VOID instead of deleting a check?

Answer: You used the check number but it will never be cashed.

Question (205):-

How do you pay payroll liabilities in QuickBooks?

Answer: 

Select payments you want to make from the pay schedule liabilities in the payroll center then click view pay.

Question (206):-

How do items affect the financial statement?

Answer: When you purchase or sell an item the value of the on-sale purchase flows to the account

Question (207):-

You accidentally entered the same customer twice in the customer center with a slightly different spelling. How do you merge these entries?

Answer: 

Edit the unwanted list entry, change the name you want to merge, and click ok, then yes when prompted to merge.

Question (208):-

How do you record debit card transactions in QuickBooks?

Answer: 

Use the write checks window, enter the check and write debit the check number field.

Question (209):-

Which is a reason to NOT enter a general journal entry?

Answer: 

To enter transactions in another way instead of using forms.

Question (210):-

The bank notifies you that a customer’s check you deposited has bounced. The customer does not have sufficient funds to cover the check. What should you NOT do?

Answer:  Delete the customer payment from the deposit.

Question (211):-

How do you display a group of reports?

Answer: Click the reports menu then select process multiple reports.

Question (212):-

Which payroll service allows you to print state tax forms?

Answer: Basic payroll

Question (213):-

How do you customize a report, i.e. change the information QuickBooks displays, change the title, etc?

Answer: Click the modify report button on the report.

Question (214):-

A list entry may be deleted only when…

Answer: 

It has no balance; it has not been used and is not linked to anything that has been used.

Question (215):-

Your company provides its employees with sick/vacation hours. You need to track how many hours each employee currently has available, how many they add or accrue and you need to reduce their accrued hours when you pay them for sick or vacations time. How would you do this in QuickBooks?

Answer: 

Click the vacation button on the employee set up to define how to accrue time and tell QuickBooks how many hours the employee is available. When you pay an employee for sick/vacations time, click the sick/vacation button and reduce those available hours.

Question (216):-

When you send a QuickBooks report to Excel, which features allow you to choose what sections of the report to collapse?

Answer: Auto outline.

Question (217):-

What is the purpose of an Audit Trail report?

Answer: 

Track any changes and deletions to transactions and track which user makes the change or the deletion.

Question (218):-

What can you do in the report center?

Answer: Run most reports in QuickBooks

Question (219):-

The company file you are working on is a mess. You decided to start a new file. At the same time, you want to keep all the lists and preferences and just delete the transactions. How do you do this?

Answer: 

Click the File menu, choose Utilities, clean up company data, then choose the default transaction option.

Question (220):-

Your company sells unique items to every customer. They never sell the same service or product twice. What item should you set up in QuickBooks?

Answer: 

Set up a generic item and edit the description and price each time.

Question (221):-

You hired a subcontractor to work 40 hours per week. Which list should you add this person to?

Answer: Vendors.

Question (222):-

When should you enter a customer credit memo?

Answer: When the customer returns a product that is damaged.

Question (223):-

How do you make a column on a report wider?

Answer: 

Click the diamond to the right of the column and drag it to the right.

Question (224):-

When you run a profit and loss on an accrual basis what does QuickBooks include as income?

Answer: All sales.

Question (225):-

What is the quickest way to find an invoice from 6 months ago?

Answer: 

Open an invoice and click the find button. Open an invoice and click the find button.

Question (226):-

Which tool do you use to modify where QuickBooks displays elements on a printed form or template?

Answer: Layout designer.

Question (227):-

How do you make an item on the item list inactive?

Answer: 

Open the item list, click to select the appropriate item, then click the bottom left button and select item inactive.

Question (228): 

QuickBooks Online has some great features. Clients can use Online Invoicing, which will track when they’ve been viewed and paid. Online Invoicing even allows for customer queries via online messages directly linked to the invoice. You now need to enable this feature in the new client company you’re setting up.

Take a look at the steps below.

1. Select the Gear icon, and select Account and Settings, under the Your Company column

2. _____________ and scroll down to the Online delivery section

3. _____________ to ensure that Attach invoice as pdf is unchecked

Can you identify the missing steps?

Answer: Step 2: Select the Sales tab; Step 3: From the drop-down list, select Online invoice

Question (229): 

Your client has asked you to turn on warnings for duplicate check and bill numbers in their QuickBooks Online company.

Take a look at the steps below.

1. ______________

2. Under Your Company, select Account and Settings

3. Select the Advanced tab

4. In the Other preferences section, select the option to warn if a duplicate check number is used and warn if a duplicate bill number is used

5. ______________

Starting at the QuickBooks Online Dashboard, which option would complete the following steps?

Answer: Step 1: Select the Gear icon; Step 5: Select Save

Question (230): 

Your client doesn’t want to pay a monthly fee for their QuickBooks Payments merchant account. What other option is available to them, and wherein QuickBooks Online can they sign up for QuickBooks Payments?

Answer: There is another plan which means the customer pays the transaction charge; In the Billing and Subscription tab of Account and Settings.

Question (231): 

Your client has moved and needs you to modify the business address of the company in QuickBooks Online.

Take a look at the steps below.

1. Sign in to your QuickBooks Online Accountant account

2. _________________

3. You’ll see the client company dashboard 

4. _________________

5. Select Account and Settings

6. Select the Pencil icon in the Address section of the Company tab

What are the missing steps to get you to the screen to edit the address for your client?

Answer:

Step 2: Select the client company from the Client Switcher drop-down in the green header bar

Step 4: Select the Gear icon

Question (232): 

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?

Answer: Go to the Gear icon and select All Lists

Question (233): 

Where can you go in QuickBooks Online to import a list of products and services?

Answer: Select the Gear icon and under the Tools column, select Import Data, then Products and services

Question (234): 

A small business owner already has an Intuit ID and is going to set up their own QuickBooks Online company. Below are a series of steps for setting up a new QuickBooks Online company.

1. Go to QuickBooks.com

2. Select the appropriate subscription level

3. Select Sign in

4. ________________

5. Select Sign in

Can you identify the missing step 4?

Answer: Step 4: Enter an Intuit ID email address and password

Question (235): 

Below are a series of steps for accepting an invitation from the client to become their accountant user.

1. Open the email account you use for your Intuit ID

2. You will see an invite from the client company

3. Select the Accept button to accept the invitation

4. ________________________ and you’ll see a Success! box

5. Select Continue

Can you identify the missing step?

Answer: Step 4: Sign in to your QuickBooks Online Accountant account

Question (236): 

Look at the following 2 statements:

• Statement 1 – “QuickBooks Online _____________ is the do-it-for-me option; a complete payroll service with a team of US-based payroll experts to take care of payroll for your client.”
• Statement 2 – “You can also link up ____________ with QuickBooks to simplify workflow and save yourself a significant amount of time. You’ll benefit from a seamless, end-to-end experience that translates a client’s QuickBooks Online books into a tax return.” 

Identify the products that fit in the spaces to correctly complete the statements.

Answer: Full-Service Payroll; ProConnect Tax Online

Question (237): 

The Chart of Accounts lies at the heart of a QuickBooks Online company. Which 5 of the following statements are true about the Chart of Accounts, how to make changes to the Chart of Accounts, and how products and services are linked to the Chart of Accounts?

Answer:

• To add a new account, you open the Chart of Accounts by selecting Accounting from the left navigation, then select New to open the Account window
• The Sales of Product Income account is a default account when inventory is turned on
• If you add a new account, the category type determines on which financial statement this account will show
• When we set up Products and Services, they are linked to the Chart of Accounts by specifying a sales price/rate
• Delete an account from the Chart of Accounts if it is not relevant to your business

Question (238): 

To set up a new bank feed or link to a bank account in a client’s QuickBooks Online company you should go to the ___________. If it’s the first time you’ve been here, select Connect, otherwise select Add account. Which option completes the statement?

Answer: Banking Center

Question (239): 

If you want to give one or more of your employee’s access to Your Practice, what types of user permissions can be set up?

Answer: Regular or custom user, Company administrator, Reports only and Time Tracking only

Question (240):

You’ve been asked to add a new customer for your client in their QuickBooks Online company, so, you go to the Sales Center and select the Customer tab to begin. As this is the first customer for your client you are taken straight to an easy entry screen.

Take a look at the steps that follow:

1. You enter the customer name, phone number, and email from the business card you’ve been given by the client
2. ____________________
3. You now want to edit this customer’s details to add some further information
4. Select the customer name from the customer list
5. Select the Edit button in the top right
6. This customer is not taxable and you need to enter their reseller number. Select the Tax info tab and enter their reseller number 92-12345 in the Exemption details for the employee tax exemption in QuickBooks.
7.  ___________________ and set their preferred payment method to Credit Card
8. Select Save
9. Now select the missing steps.

Answer: 

2. Select the Add Customer button; 

7. Select Payment and Billing

Question (241): 

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 sales tax up for a client in QuickBooks Online who only does business in their home state? Select the 4 options you think apply.

Answer:

Their company address?

When did their current tax period start?

How often do they have to file a tax return?

When did they start collecting sales tax for the agency?

Question (242): 

Where would you go to add a new vendor or find the link to import a vendor list into QuickBooks Online?

Choose the most viable method from the options below, although other methods may be available.

Answer:

The New vendor button in the Vendors tab of the Expenses screen

Question (243): 

What would a client select in their Manage Users screen to give their worker access to create invoices, but not write checks in their QuickBooks Online company?

Answer:

Select the Limited radio button and check the Customer and Sales box

Question (244): 

You want to add a new Product and Services entry to your client’s QuickBooks Online company. The service is the installation of a server but doesn’t include the cost of the hardware. Here are some steps for getting the job done. 

1. Select the Gear icon, select Products, and Services, then select New
2. _________________
3. In the Name field, type ‘Server installation’
4. In the Sales information field, type ‘Server installation’
5. Sale price/rate is $1250
6. In the Income Account drop-down select Service/Fee Income
7. Select Save and close
8. Which of the options below correctly fills in Step 2?

Answer: Select Service

Question (245):

What are 3 primary ways to get information into QuickBooks Online?

• Use Import Data Tool
• Use Export Data Tool
• Use data manually into the QuickBooks Online forms and check registers
• Use the Attachments Tool

Answer:

The 3 primary ways to get information into QuickBooks Online are

• Use the Import Data Tool
• Place the data in the formats of QuickBooks Online, and check register
• Use Export Data Tool

Question (246):

Which 2 statements are true of wholesale billing for Quickbooks Online

1. The practice gets billed at wholesale prices for QuickBooks Online subscriptions
2. The client gets billed directly when they’re signed up for a wholesale discount account
3. The client gets billed directly, but the practice determines the price
4. The practice gets billed, and determines the amount to bill the client
5. The client will be required to enter their credit card information when they log in to the newly created subscription

Answer: 1, and 2

Question (247): 

What does QuickBooks Enterprise have that the other versions do not?

Answer: Here are some points mentioned below:

• Enterprise can have from 5 to 30 users,
• Individual user access per area
• Can handle an unlimited amount of items vs. 14500 max with Pro/Premier,
• More powerful inventory features,
• Works much faster in a network multi-user environment

Question (248):

What are the main differences between QuickBooks Pro and Premier?

Answer:

QuickBooks Premier can do sales orders, can create P.O.’s straight from Estimates or sales orders, create change orders, Industry-specific reports (Wholesale & Manufacturer, Retail, Non-Profit, Professional Services, Contractor), Inventory Center, etc, but QuickBooks Pro has no features to do these work.

Question (249):

What are the most important QuickBooks tips for a beginner and to speed up the work?

Answer:

• Check the date: wrong dates give you the wrong reports, always.
• Use Tab instead of Enter: Enter tends to do the opposite of what you want.
• Shortcuts: Speed up data entry process, especially with dates.  Always reconcile accounts and get rid of unreconciled (often duplicate) transactions
• Home Page: use the home page when lost to find what you are looking for.
• Respect Accounting: accounting rules such as revenue recognition and expenses matching allow for a better understanding of the reports.

Question (250):

What does it mean when you have a negative Inventory? What can you to do troubleshoot inventory issues?

Answer:

The negative inventory indicates that there is no selling inventory. You can make a quick report for the item and can find the discrepancy of the in and out the time of the inventory.

Question (251):

What is the difference between a Custom Summary Report and a Custom Transaction Detail Report?

Answer:

Summary: Contains totals for a customer or vendor/totals for a particular account

Detail: Line by line, transaction by transaction, Itemized transaction.

Question (252):

What financial reports should you prepare at the end of the year to prepare for tax preparation or other types of financial reporting?

Answer:

Profit & Loss, balance sheet A/R Aging, A/P Aging, Inventory Valuation Summary, sales by rep, Profit by job, etc.. should be ready at the end of the year to prepare for the tax preparation.

Question (253):- What type of business relies on knowing their inventory at all times?

Answer:

B2B Wholesale businesses

Question (254):- Managing inventory and avoiding out-of-stock situations is critical to the success of what type of business, as well as understanding cash flow and balance sheets?

Answer:

Retail and e-commerce businesses

Question (255):- What are the three different ways to get information into QuickBooks Online?

Answer: 

1. Convert data in existing QuickBooks Desktop software
2. Import customers, vendors, Chart of Accounts, and products and services lists from Excel
3. Enter all data manually

Question (256):-  What are the five different subscription plans available on QuickBooks Online? 

Answer: 

1. QuickBooks Online Self-Employed 
2. QuickBooks Online Simple Start
3. QuickBooks Online Essentials 
4. QuickBooks Online Plus 
5. QuickBooks Online Advanced

Question (257):- What is considered the backbone of accounting software?

Answer:

The Chart of Accounts, including all assets, liabilities, income, and expenses

Question (258):- In wholesale billing, who is billed monthly for the subscription of QBO?

Answer: 

The Accountant

Question (259):- How much does the Accountant user pay for wholesale billing?

Answer:

50% wholesale discount

Question (260):- What is a perk of wholesale billing?

Answer:

The Accountant user decides how the clients will be billed.

Question (261):- How do you add a new client?

Answer:-  

1. Go to Client Dashboard in QuickBooks Online Accountant
2. Select Add Client
3. Enter the business info

Question (262):- How do existing users add you as their Accountant on QBO?

Answer:- 

1. Tell them to go to My Accountant in the left-hand navigational panel
2. Send an email
3. Accept invite
4. Sign in using QBO account information
5. Continue
6. The user will be added to your list of clients

Things to Keep in Mind Before Attempting Exam

Before attempting the exam, you need to know some important points. Let’s discuss the key points.

• You have 2-3 hours to complete 75 questions. Start preparing to keep this in mind.
• The exam contains 5 sections and It is compulsory to gain at least 80% of marks in each section to pass the exam. You can attempt the section in any order.
• QuickBooks gives you 4 chances to attempt for each section. If you reattempt a section, you’ll only answer the questions that you missed before.
• Unfortunately, if you lost all four chances, you will be blocked for 60 days. You can reappear in the exam after 60 days.
• QuickBooks Online Certification is valid for up to 365 days.
• Take screenshots, make notes and print out the pdf of the question answers. You can use them in your exam because this is an open book exam.
• Give your answer clear and direct. Don’t over-explain it because there are no bonus points. 
• Cross-check the answer sheet, at last, to make sure that, you didn’t miss and answer all the questions correctly.

Steps to Sign in For The Exam

Here we are going to discuss how you can sign in to take the QuickBooks Online Certification exam. Follow the steps to take the training and sign in.

• Go to the QuickBooks accountants training certification page.
• If you want to get training first, choose the Sign in to start button at the beginning of the page. After that, you can sign in with Google, email, the user ID, or Phone number.
• If you already prepared for the exam and want to sign in, scroll the page to the end.
• Here you will find the Start training today tab, you can choose Self-paced training, find upcoming events, and Take your Exam.
• Click on the Take your Exam, and the sign-in window will appear. 
• Sign in with Google, email, the user ID, or Phone number.

• Follow the on-screen instructions to start.

Make a Strong Schedule for QBO Certified Exam

The foremost thing you need to do before preparing for the exam is, make an effective schedule for becoming a QuickBooks ProAdvisor. This can be done in three easy steps. Have a look at the below steps.

Step 1: Take a Good Training Class

The first step for preparing for the QuickBooks Online certified exam is, finding a good training class near your location. If in case you are unable to find a training class then, you can get our ProAdvisor support to find a training class, and also can clear your doubts regarding the class. 

QuickBooks provides a pre-certification training course for the exam free of cost. You should take the training so that the exam preparation will be done easily. It helps you a lot in clearing the exam without any charge. The training course also gives you CPE credits.

If you want extra preparation for this examination then, you can go for the live webinar from QuickBooks.

Step 2: Give tests 

Once your training class completes, give more and more tests to boost up your knowledge. Attempt sample exams like Online tests, mock tests, read sample papers, and do exercises from the test papers. It will build up your confidence and increase the speed to attempt all questions in the given frame time. 

Step-3: Finally Give Your QuickBooks Certification Exam 

After all the preparation, now it’s time to appear in the Certification Exam of the QuickBooks Online. Here we are going to discuss what are the points you need to keep in mind during the exam. Let’s start. 

• Be ready with your notes, screenshots, pdf, and other study material you collect. This is an open book exam, you can take help from the study materials. 
• Don’t panic, stay confident and focused during the exam.
• If a particular question puzzles you and takes more time, skip it. Come back to it before submitting the final exam. 
• You have limited time for the exam. Divide your time equally to each section.
• Sometimes QuickBooks have some pixies available on its server, due to that some candidate fails to download the certificate of passing the exam. So, it is very important to take a screenshot immediately after passing the exam. 

Important Tips for Qualifying the Exam

We have given some tips below, which will help you a lot in qualifying for the exam. Let’s get started.

Tip 1: Get the QuickBooks Online Certification Exam Answers 2023 pdf 

Collect various pdf, sample questions, and different study material you can. The more question you read the more chances to clear the exam. QuickBooks Choose the best candidate for the QuickBooks ProAdvisor. Sometimes it changes question patterns, test styles, and web environment. 

Tip 2: Technical Tips

It is best to take online tests in Chrome Incognito Window because it doesn’t save your history and block the site cookies. 

Open the chrome incognito window in Windows by pressing Ctrl + Shift + N keys at the same time. For Mac, press Command + Shift + N keys.

Tip 3: Verify the answers 

Verifying the answers is a good tip to get success in QuickBooks certification. After practicing the sample tests, have a look at the answers which did wrong. It helps you to boost your knowledge and make your learning more effective. 

Conclusion

Hope, the above information helped you a lot to mitigate tension. We have discussed all the important points for the QuickBooks Online Certification Exam. Practice the sample questions and enhance your knowledge and confidence. In case you need any kind of help then, you can get an expert solution through the toll-free number +1-844-405-0904.  Finally, we wish you the best of luck in your exam.

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Don't get stressed out? We are here for help. Find a QuickBooks ProAdvisor or CPAs who can help you get rid of your problem. Dial our toll-free number.

Call us: +1-844-405-0904

Frequently Asked Questions

Here we will provide frequently asked questions related to the QuickBooks ProAdvisor certification exam in case users have any doubts about this exam.