Which of the following can trigger automation in QuickBooks? Select all that apply.
-Recurring invoices
-Inventory updates
-Customer payments
-Search filters
Recurring invoices & Customer payments
Which areas can be accessed using QuickBooks settings? Select all that apply.
Enable account numbers
Banking transactions
Automatically apply credits
Bank reconciliation screen
Automatically apply credits & Enable account numbers
What happens when you delete a transaction instead of voiding it? Select all that apply.
It’s completely removed from the books
The audit trail shows the transaction as deleted
It stays in reports
The financial impact remains
It’s completely removed from the books & The audit trail shows the transaction as deleted
A user wants to schedule weekly payments to a subcontractor. What should they set up?
Custom report
Payment envelopes
Recurring transaction
Bill reminders
Recurring transaction
Which reports help evaluate financial performance over time?
Sales by Product and Services
Profit & Loss Comparison
Balance Sheet
Trial Balance
Profit & Loss Comparison
Why is it helpful to set standard descriptions on service items? Select all that apply.
Speeds up transaction creation
Improves consistency across reports
Automatically applies payment terms
Reduces errors during data entry
Speeds up transaction creation, Improves consistency across reports, Reduces errors during data entry
What is a key benefit of using custom roles in QuickBooks Online Advanced?
Discounts on inventory
Scheduled backup options
Automated payroll
Precise task-based access control
Precise task-based access control
What’s the primary benefit of capturing receipts using the QuickBooks mobile app?
It digitizes expenses and supports recordkeeping
It syncs employee schedules
It sends invoices automatically
It updates company settings
It digitizes expenses and supports recordkeeping
Which functions are available in the QuickBooks mobile app? Select all that apply.
Processing payroll tax forms
Capturing receipts
Tracking mileage
Creating invoices
Capturing receipts, Tracking mileage, Creating invoices
What is typically included in the Statement of Cash Flows?
Operating, investing, and financing activity
Accounts receivable totals
Tax rates by state
Payroll details
Operating, investing, and financing activity
A small business owner asks you to show how much profit they’ve made this month. What report would you use?
Statement of Cash Flows
Profit & Loss
Balance Sheet
Accounts Receivable Aging
Profit & Loss
Which scenarios are good reasons to set a Closing Date? Select all that apply.
After filing taxes
After completing monthly reconciliation
When adding new vendors
Before sending reports to external stakeholders
After filing taxes, After completing monthly reconciliation, Before sending reports to external stakeholders
How does adding an accountant user differ from adding an employee user?
Accountants can bypass login screens
Employees can’t see any reports
Accountants can access advanced accounting tools without editing company settings
Employee users must use a desktop version
Accountants can access advanced accounting tools without editing company settings
What is a key benefit of the Google Drive integration for receipts?
Schedule tax payments
Limit employee access to sensitive transactions
Direct payment processing
Reconcile accounts
Limit employee access to sensitive transactions
Which issues might require you to exclude a transaction from the bank feed? Select all that apply.
Missing payee
Duplicate transactions
Non-business charge
Transactions dated before start date
Duplicate transaction, Transactions dated before start date
What is the primary benefit of using custom fields?
They create audit trails for journal entries.
They generate 1099s automatically.
They let you track data not available in default QuickBooks fields.
They allow importing new customers from Excel.
They let you track data not available in default QuickBooks fields.
Which financial report best helps analyze company profitability?
Trial Balance
Profit & Loss
Bank Reconciliation
Balance Sheet
Profit & Loss
What happens after you deposit funds from Undeposited Funds into your bank account? Select all that apply.
Accounts Receivable is closed
An invoice is created automatically
Checking account balance increases
Undeposited Funds balance decreases
Checking account balance increases, Undeposited Funds balance decreases
You want to bring in transactions from the bank automatically. What feature should you use?
Reconciliation tool to automatically download transactions
Connect the account in the bank transactions window
Connect the account in the Cash Flow Manager
The connectors in the financial statements
Connect the account in the bank transactions window
Why should you use the Undeposited Funds account when recording multiple customer payments deposited together?
To ensure the total deposit in QuickBooks matches your bank statement.
To reduce taxable income before deposits are made.
To link the payments with payroll processing.
To hold payments indefinitely until the fiscal year ends.
To ensure the total deposit in QuickBooks matches your bank statement.
When reviewing a sales tax return, what can you do if your records don’t match the state’s totals?
Change the product prices
Delete the tax agency
Recreate all sales receipts
Make a sales tax adjustment
Make a sales tax adjustment
Which payment methods are supported through QuickBooks Payments? Select all that apply.
Credit card payments
Barter exchanges
ACH bank transfers
Automatic transactions
Credit card payments, ACH bank transfers
What are key reasons to review your Accounts Receivable reports regularly? Select all that apply.
To reduce missed collections
To monitor overdue invoices
To improve cash flow
To approve time entries
To reduce missed collections, To monitor overdue invoices, To improve cash flow
Which functions are commonly found in the Navigation bar? Select all that apply.
Website analytics
Banking
Reporting
Banking Transactions
Banking, Reporting, Banking Transactions
