SECTION 1

Review Answers
Take a minute to review your answers before you turn in your work.
Once you submit this section, you won’t be able to change your answers.

 Q1
 Which 3 of these areas does the Client Needs Assessment tool focus on to help gather the
information needed to select the right QuickBooks Online subscription for a client?

Edit answer

Your answer:
Features and solutions
Client profile
Needs assessment

 Q2
 Which 4 list types can be directly imported into QuickBooks Online from Excel?

Edit answer

Your answer:
Customers
Products and services
Vendors
Chart of accounts

 Q3
 What is the minimum QuickBooks Online version suitable for Brian's client?

Edit answer

Your answer:
QuickBooks Online Plus

 Q4
 What are 3 benefits of the ProAdvisor Discount Program?

Edit answer

Your answer:
Itemized billing of all firm-billed subscriptions
Ability to add, remove, or change clients' subscriptions
Up to 30% off subscriptions for your clients
  Q5
 Which 2 reasons could be causing this balance?

Edit answer

Your answer:
An opening balance was entered when an inventory item was created
An opening balance was entered when creating a new Other Current Asset account

 Q6
 Where can she see which apps are connected to the client’s account without signing out
of the account?

Edit answer

Your answer:
Left-hand navigation > Apps

 Q7
 Which menu area allows you to search for apps by the problem or business process they
address?

Edit answer

Your answer:
Browse category

 Q8
 Where are 2 places you can search for apps that work with QuickBooks Online?

Edit answer

Your answer:
www.apps.com
The Apps tab in QuickBooks Online Accountant

 Q9
 Where do you go to access QuickBooks Online training materials for your clients?

Edit answer

Your answer:
Left-hand navigation > ProAdvisor > Benefits > Training

 Q10
  What are 2 ways you can clean up her chart of accounts to reduce the number of accounts
shown?

Edit answer

Your answer:
Merge duplicate accounts
Make accounts inactive

 Q11
 Which users will be able to see account numbers if they are enabled?

Edit answer

Your answer:
All users will see the account numbers.

 Q12
 Which 2 accounts cannot be merged or made inactive?

Edit answer

Your answer:
Uncategorized Expense
Retained Earnings

 Q13
 What is the maximum number of characters allowed in the account number field?

Edit answer

Your answer:
7

 Q14
 Where would she navigate to assign a preferred vendor?

Edit answer

Your answer:
Sales > Products and services > Edit under the Action column > Preferred vendors dropdown

 Q15
 What must each product/service item be mapped to?

Edit answer
Your answer:
Chart of accounts

 Q16
 There are four item types to choose from in QuickBooks Online.

Edit answer

Your answer:
 These are products bought and sold where it isn't necessary to track quantities on
hand, such as small parts used in the installation or delivery of a product -
Non-inventory
 This is a collection of products and services that are sold together, such as the
installation of a product that includes both labor and materials -
Bundle
 This includes services that are provided to customers, such as an emergency
service call visit or other labor -
Service
 These are products that are bought and sold, and where it is necessary to track
quantities on hand. You must subscribe to QuickBooks Online Plus or Advanced
to use this feature -
Inventory (in QuickBooks Online Plus and Advanced only)

 Q17
 Where would he go to add the additional term?

Edit answer

Your answer:
Gear > All lists > Terms > New
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SECTION 2
Review Answers
Take a minute to review your answers before you turn in your work.
Once you submit this section, you won’t be able to change your answers.

 Q1
 When importing customers for the first time, which of these file types can you use to
import your customer list?

Edit answer

Your answer:
XLSX

 Q2
 Which field is required when importing vendors?

Edit answer

Your answer:
Vendor Name

 Q3
 What does QuickBooks Online automatically create to record the balance owed when
adding a vendor with a non-zero opening balance?

Edit answer

Your answer:
Journal entry

 Q4
 Which 2 statements are true when creating an OAuth bank connection in QuickBooks
Online?

Edit answer

Your answer:
Most banks require the primary account holder to establish the OAuth connection to the bank
Not all banks and financial institutions support the OAuth bank connection

 Q5
 Where should they go to update their bank info in QuickBooks Online?

Edit answer

Your answer:
Banking Center > Banking tab > Select account tile > Pencil icon > Edit sign-in info
  Q6
 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?

Edit answer

Your answer:
Their company address
How often they have to file a tax return
When their last tax period started
When they started collecting sales tax for the agency

 Q7
 Which 2 are correct regarding setting up a QuickBooks Payments account for a client?

Edit answer

Your answer:
The Primary admin of the QuickBooks Online company should connect QuickBooks Payments
The accountant should not be the primary owner of the client's QuickBooks Payments account

 Q8
 Where would your client navigate to view the status of a bill payment that was paid using
Melio?

Edit answer

Your answer:
+ New > Pay bills > View online payments

 Q9
 Which 2 team user roles have permission to view and search for apps using the Apps tab
in QuickBooks Online Accountant?

Edit answer

Your answer:
Full Access
Primary Admin

 Q10
 What are 2 ways to track time using QuickBooks Time?

Edit answer

Your answer:
Manual Time Card
Time Clock Kiosk

 Q11
 What are 2 features QuickBooks Time Elite has that Premium does not?

Edit answer

Your answer:
Ability to analyze project estimates verses actuals
Ability to use geofencing

 Q12
 Which 3 options for customizing invoices can you access via the Custom form styles >
Invoice template?

Edit answer

Your answer:
Change invoice fonts
Add a logo
Change invoice color schemes

 Q13
 Which options would a client select in their Manage Users screen to give their worker
access to create invoices, but not print checks in their QuickBooks Online company?

Edit answer

Your answer:
Standard user > Limited > Customers

 Q14
 How can you switch from Accountant view to Business view in QuickBooks Online?

Edit answer

Your answer:
Gear icon > Switch to Business view

 Q15
 In the Overview tab of the Client List, what filter can be applied to only show clients
assigned to a specific team member?

Edit answer
Your answer:
Lead
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Section 3
QuickBooks OnlineHow it works
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 Q1
 When downgrading a client’s subscription, what will be affected as a result of the
downgrade?

Edit answer

Your answer:
All discounts will be removed

 Q2
 The statement can be downloaded in which 2 file types?

Edit answer

Your answer:
CSV
PDF

 Q3
 How does Teresa update the lead for her client in QuickBooks Online?

Edit answer

Your answer:
Clients > Filter > Edit leads > Select the new lead > Save

 Q4
 What is the correct process for setting up a recurring project for the same client?

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

 Q5
 Which 2 status options can be selected when changing the status of a task?

Edit answer

Your answer:
In progress
Blocked

 Q6
 Which 2 are QuickStart templates provided in the Work area for ProAdvisors to use when
setting up a new project?

Edit answer

Your answer:
Bi-weekly payroll
Monthly bookkeeping

 Q7
 Which 3 statements about the Client request functionality are correct?

Edit answer

Your answer:
You can check the Notify client box to send the client an email notification
You can start the process by selecting Create client request on the Work screen
To update the status of a client request, select the request and then the Status dropdown

 Q8
 By posting to Undeposited Funds, you can create a single bank deposit for multiple
payments, making it easy Blank 1 .
When receiving a payment, make sure Blank 2Edit answer

Your answer:
Blank 1 -  to match your bank register with your bank statement
Blank 2 -  the "Deposit to" account is Undeposited Funds

 Q9
 Which common workflow error can cause duplicate expenses in QuickBooks Online?

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

 Q10
 Which Accountant tool in QuickBooks Online helps identify transactions that may have
been removed accidentally from the company file?

Edit answer

Your answer:
Voided/deleted transactions

 Q11
 What are 2 tools you can use to identify possible issues in a QuickBooks Online
Company?

Edit answer

Your answer:
Voided/deleted transactions tool
Transaction Journal report

 Q12
 Which feature helps streamline the purchasing process once a customer approves an
estimate?

Edit answer

Your answer:
Create purchase order from an estimate

 Q13
 What are 4 status types that can be assigned to an estimate in QuickBooks Online?

Edit answer

Your answer:
Pending
Closed
Accepted
Rejected

 Q14
 What is the best practice sequence of steps to convert an estimate to a purchase order?
 Edit answer

Your answer:
Open estimate > down arrow next to Create invoice > Copy to purchase order

 Q15
 Where must the Automatically apply credits setting be turned on?

Edit answer

Your answer:
Account and Settings > Advanced > Automation

 Q16
 Which 3 types of customer statements can QuickBooks Online generate?

Edit answer

Your answer:
Statements that show a balance forward and then all activity between two specified dates
Statements that show invoices created between two specified dates and their related payments
Statements that show just open transactions
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Section 4
QuickBooks OnlineHow it works
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 Q1
 What are 2 ways to use a vendor credit in QuickBooks Online?

Edit answer

Your answer:
Apply it to an existing bill
Hold on to it and apply it to a future bill
  Q2
 What are 2 scenarios in which you would use a Bank deposit transaction?

Edit answer

Your answer:
When your client wants to group customer payments into a single deposit transaction
When your client wants to record an SBA loan amount received

 Q3
 What type of transaction in QuickBooks Online allows her to record the sale and the
payment on a single screen?

Edit answer

Your answer:
Sales receipt

 Q4
 Which 2 statements are true about payment links in QuickBooks Online?

Edit answer

Your answer:
Payment links can be used anytime a client wants to sell a product to a customer
You can use payment links to send a request for payment on an existing invoice

 Q5
 Which statement about adjusting journal entries in QuickBooks Online is true?

Edit answer

Your answer:
Only Accountant users can create adjusting journal entries

 Q6
 What are 3 benefits of the Pay down credit card feature?

Edit answer

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

 Q7
  1. Select the + New button from the left-hand navigation and select

Blank 1 in the Other column

Your answer:
Blank 1 -  Paydown credit card
Blank 2 -  Payee
Blank 3 -  Save

 Q8
 Where should your client go to record a Transfer?

Edit answer

Your answer:
+ New > Transfer

 Q9
 What are the 3 ways to capture bills and receipts so that they can be matched to
transactions and added to the bank feed?

Edit answer

Your answer:
Forwarding by email
File upload
Via the mobile app

 Q10
 To make receipt forwarding active, you’ll need to enable a unique email address within
the client’s QuickBooks Online. Where would you navigate to enable this feature?

Edit answer

Your answer:
Banking center > Receipts > Manage forwarding email

 Q11
 When an excluded transaction is reinstated, which tab will it appear under?

Edit answer
Your answer:
For review

 Q12
 Which 3 of these statements regarding bank rules are true?

Edit answer

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

 Q13
 What is the default filter that is automatically applied when reconciling an account in the
Reconciliation dashboard?

Edit answer

Your answer:
Date

 Q14
 Which report can be viewed to provide some guidance on how you can resolve
transactions that are causing discrepancies when reconciling an account?

Edit answer

Your answer:
Reconciliation Discrepancy report

 Q15
 Which users are able to undo a reconciliation?

Edit answer

Your answer:
Accountant users only

 Q16
 What are 2 ways to begin setting up a recurring transaction in QuickBooks Online?

Edit answer

Your answer:
Gear > Recurring transactions
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Section 5
QuickBooks OnlineHow it works
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Once you submit this section, you won’t be able to change your answers.

 Q1
 How many ungrouped tags can be created in QuickBooks Online Plus?

Edit answer

Your answer:
Unlimited

 Q2
 Which report summarizes the amount of financial activity associated with each income or
expense account for a specific period of time?

Edit answer

Your answer:
Profit and Loss

 Q3
 Which 2 of these datasets can be visualized using custom charts in the Performance
Center?

Edit answer

Your answer:
Accounts receivable
Expenses

 Q4
 Which report would you use to show top-selling and/or worst selling products?

Edit answer

Your answer:
Sales by Product/Service Summary

 Q5
 Where can you select this option for them?

Edit answer

Your answer:
Customize > General

 Q6
 How would she accomplish this?

Edit answer

Your answer:
Copy an existing template under Management reports

 Q7
 Which 2 tasks should be completed monthly as part of the month-end review process?

Edit answer

Your answer:
Resolving incomplete transactions
Reconciling accounts

 Q8
 What are the 3 status options?

Edit answer

Your answer:
To do
Waiting
Done

 Q9
 In the Reclassify transactions screen, which 3 elements of a transaction can be
reclassified?

Edit answer

Your answer:
Classes
Locations
Accounts

 Q10
 What are the correct steps to access and begin reclassifying transactions?

Edit answer

Your answer:
Accountant Tools > Reclassify transactions

 Q11
 When can an Accountant user use the Write off invoices tool?

Edit answer

Your answer:
When a customer has outstanding invoices that will not be paid

 Q12
 Which tool in the Accountant Tools helps you clean up uncollectible balances from
customers?

Edit answer

Your answer:
Write off invoices

 Q13
 At year end, what 2 reports can be used to verify that all bank and credit card accounts on
the balance sheet have been reconciled?

Edit answer

Your answer:
Reconciliation Report
Reconciliation Discrepancy Report

 Q14
 Which 3 items are included in the substantiation requirements?

Edit answer

Your answer:
Vehicle type
Date placed in service
Mileage
  Q15
 Can your client make changes, and if so, how would you track any changes to
transactions within the closed period?

Edit answer

Your answer:
Yes, but only if they know the password. Changes are flagged in the Exceptions to Closing Date
report

 Q16
 How can you find the Exceptions to Closing Date report?

Edit answer

Your answer:
Reports > For my accountant