Are you interested to appear in the QuickBooks Online certification exam 2021 and looking for a perfect guide? No worries. We understand the need of candidates who want to become a QuickBooks ProAdvisor and preparing for the QB certification exam. In the following post, we are including all the relevant questions along with their answers that can be asked in the exam pattern 2021. You must know that there are only three attempts to crack the exam. Take your time and go through the complete post wisely.
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Now, you may proceed further to look into the following QuickBooks online certification exam answers pdf without wasting time. We wish you all the luck from our team. If in case, you want assistance regarding any QuickBooks accounting software, feel free to contact us.
Q1: Write down the true statements regarding how to make changes to the QuickBooks Chart of Accounts and how to link products and services to the chart of accounts?
Q2: You should look into the sales tax requirements of your clients for their business and locality, as part of understanding the client’s requirements.
What information will be required to set sales tax up in QuickBooks Online? (Only for home-state business)
Q3: What are the unique features of QuickBooks Enterprise that no other version has?
Q4: What is the main difference between QuickBooks Pro and Premier?
Q5: What are the main tips for a beginner to speed up the work in QuickBooks?
Q6: Which financial reports are to be prepared at the end of the year for the tax preparation or other type of financial reporting?
Q7: What is the difference between a Custom Transaction Detail Report and a Custom Summary Report?
Q8: Where you can find the transfer funds function in QuickBooks Online?
Q9: What type of user permissions need to be set up to give access to one or more employees to your practice?
Q10: Where can you import a list of products and services in QuickBooks Online?
Q11: Which of these Company Settings must be chosen in order to activate online invoices:
Q12: What are the steps to turn on warnings for duplicate check and bill numbers in QuickBooks Online Company?
Q13: If your client wants to modify the business address of the company in QBO, what steps he needs to perform? Complete the following steps.
Q14: Why is setting a closing date and a password strongly recommended?
Q15: Are you allowed to enter statement charges one by one as you enter customer or vendor services?
Q16: Which one of the following is a feature of QuickBooks Online Payroll?
Q17: If you see two or more similar names in the vendor center that refer to the same vendor, what will you do to clean up the Vendors list?
Q18: Which account register needs to be opened to view the cleared checks?
Q19: What is the difference between the Balance Sheet Report and Profit & Loss Report?
Q20: If your client wants to transfer $600 from the checking account into a savings accounts to cover tax liabilities, from where he should imitate the process?
Q21: Write down the difference between Accounts and Items?
Q22: What is the difference between writing a check and entering a bill?
Q23: What is the undeposited funds account?
Q24: How to get QuickBooks financial reports to excel?
Q25: Which subscription includes online banking, integration with a wide range of apps, and online access feature?
Q26: How to reclassify transactions in QuickBooks Online?
Q27: What types of customer statements can be created by QuickBooks Online?
Q28: Write down the correct definition of Cash-based reports?
Q29: Which option is to be selected to find the link to the Deleted Transactions tool?
Q30: Which option may help you to set up a new bank feed or link to a bank account in QuickBooks Online Company?
Q31: Complete the following steps of adding a new customer for your client in their QuickBooks Online Company.
Q32: What are the methods to get information into QuickBooks Online?
Q33: What does a negative inventory indicate?
Q34: How to enter statement charges in QuickBooks?
Q35: When would you use the Add other funds to this deposit grid in a Deposit Transaction?
A1: Here are the important statements about the QuickBooks chart of accounts.
A2: We think the following information will be needed to set up QuickBooks sales tax.
A3: Listed below are some of the unique features of QuickBooks Enterprise.
A4: With the help of QuickBooks Premier, you can create P.O.’s directly from sales orders, change orders, and manage industry-specific reports such as Retail, Wholesale & Manufacturer, Non-Profit, Professional, Contractor, and services. Whereas, QuickBooks Pro doesn’t contain this feature.
A5: The following things should keep in mind before starting up with the QuickBooks software.
A6: Profit & Loss, balance sheet A/R Aging, A/P Aging, Summary of Inventory Valuation, Profit by job, etc. are to be prepared at the end of the year for the tax preparation.
A7: Here is the difference between a custom summary report and a detailed report.
A8: Under the ‘Quick Create’ option, you can find the transfer funds function in QBO.
A9: Company administrator, Regular or custom user, Time Tracking only, and Reports only.
A10: Choose the Gear icon and select All Lists. Here, you can import a list of products and services.
A11: Option B (Email a link to customers to pay invoices online)
A12: Listed below are the steps to turn on warnings for duplicate check and bill numbers in QuickBooks Online Company.
A13: Step 2: Choose the client company from the Client Switcher drop-down.
Step 4: Select the Gear icon.
A14: Because it automatically sends an email to the accountant.
A15: No, you can’t enter statement charges in turn like entering customer or vendor services.
A16: C. Run from a different website with a central client list.
A17: In such a condition, we will merge similar vendor names.
A18: Checking Account.
A19: The balance sheet reports indicate the values of Assets and Liabilities at Equity as of a particular date. Whereas, the Profit & Loss Reports show activities (Income and Expenses to arrive at Net Income for a particular time).
A20: He should navigate to the Quick Create option and choose the Transfer link.
A21: Here are the differences between the items and accounts.
A22: Writing a check indicates recording an expense simultaneously it is being paid. There will be no time gap between the expense and the payment date. Whereas, entering a bill is to incur an expense that will be paid in the future.
A23: Undeposited funds account is a temporary account that is used when you have received a payment from a client but has not been deposited in the bank.
A24: Given below are the steps to get the financial reports to excel.
A25: All QuickBooks Online subscription includes the feature of online banking, integration with a wide range of apps, and online access.
A26: In the Account Toolbox option, you need to choose reclassify transactions to clear out unspecified expense accounts.
A27: The following is a list of all customer statements that can be created by QuickBooks Online.
A28: Cash-based reports indicate income as of the date you get the customer payment and expenses as of the date you pay the vendor bill.
A29: Accountant Toolbox.
A30: In the Banking Center option, you can set up a new bank feed.
A31: Step 2: Choose the Add Customer option.
Step 5: Click on Payment and Billing.
A32: Here, we are listing all the methods to get information into QuickBooks Online.
A33: The negative inventory shows that there is no inventory to sell. To resolve this issue, you can create a Quick report for the item and can look for the discrepancy in and out of the inventory.
A34. Below, we have mentioned the complete steps to enter statement charges on the QuickBooks account.
A35: In the following situation, we use to add other funds in a deposit transaction.
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