Section 1

Question 1
Managing inventory and avoiding out-of-stock situations is critical to the success of this
type of client.
What type of client does this best describe?
 

 Professional and Field Services

 Appointment-based

 Retail and e-commerce

Question 2
You have just engaged a new client who has been in business for over a year and has
been using Excel to track her monthly business activity.
Which 2 QuickBooks Online features can help her get the data quickly
into the new QuickBooks Online company?(Select all that apply)
 

 Use File upload tool in the Banking Center to upload banking activity

 Select Transfer under the Create (+) menu

 Select Migrate Data in the Account and Settings menu

 Import lists using the Import Data Tool

 Question 3
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?
 

 Self-Employed, Essentials, or Simple Start

 Simple Start, Essentials, Plus or Advanced

 Any subscription level, including QuickBooks Self-Employed

Question 4
Which subscription option, if any, includes online banking, access from
any device at any time, and integration with a wide range of apps?
 

 Only QuickBooks Online Plus

 QuickBooks Online Simple Start, Essentials, Plus, and Advanced

 Only QuickBooks Self-Employed

 Only QuickBooks Self-Employed and QuickBooks Online Essentials



 None of them

Question 5
Can you spot 2 features of QuickBooks Online Advanced that aren’t
available to QuickBooks Online Plus clients?(Select all that apply)
 

 Advanced custom user permissions

 Price rules

 Project tracking

 Import invoices

Question 6
Which 2 statements are true of wholesale billing for QuickBooks Online?
(Select all that apply)
 

 The practice gets billed at wholesale prices for QuickBooks Online subscriptions

 The client gets billed directly when they’re signed up for a wholesale discount
account


 The client gets billed directly, but the practice determines the price

 The practice gets billed, and determines the amount to bill the client

 The client will be required to enter their credit card information when they log in
to the newly created subscription

Question 7
Below is 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?
 

 Create a new username and password for the client company

 Create a new Intuit ID

 Sign in to your QuickBooks Online Accountant account

 Sign in to the client’s QuickBooks Online company

 Question 8
You are reviewing the Client Overview tab for a new client to determine the scope of a
bookkeeping clean-up engagement. You notice that there is a large amount in the
Opening Balance Equity account.
Which 3 reasons could be causing this balance?(Select all that apply)
 

 The client has added transactions in the Banking Center without assigning an
account to them

 Opening balances for one or more Product/Service items were entered during
the setup process

 The client entered an Opening Balance when creating a new Other Current Asset
account

 Opening balances were included when importing Customers, using the Import
Data tool

Question 9
Dianne Doolittle has opened a client’s QuickBooks Online company from her Client
Dashboard in QuickBooks Online Accountant. She wants to see which apps are
connected to the client’s account.
Where can she find this information without logging out of the client’s QuickBooks
Online account?
Where can she find this information without logging out of the client’s
QuickBooks Online account?
 


 Gear icon > Account and Settings > Billing and Subscriptions

 Client Overview > Company Setup

 Client Overview > Common Issues

 Left navigation > Apps

Question 10
The QuickBooks Online ecosystem gives you and your clients access to a wide
range of 1.__________ to help 2.___________ their business and increase
efficiencies.
Complete the above statement from the list below.
 

 1. add-ons; 2. reduce overheads for

 1. apps; 2. streamline

 1. desktop programs; 2. increase

 1. lab settings; 2. streamline

Section 2

Question 1
 Where can you find the QuickStart template in QuickBooks Online
Accountant to begin the client onboarding process?
 

 Your Practice

 Work

 Your Books

 Dashboard

Question 2
The Chart of Accounts lies at the heart of a QuickBooks Online company.
Which 4 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?(Select all that apply)
 

 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

 Uncategorized Income and Uncategorized Expense are default accounts for

online banking activity


 If you add a new account, the detail 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 3
Where do you enable account numbers for the QuickBooks Online Chart
of Accounts?
 

 Gear > Account and Settings > Company > Chart of Accounts > Select Enable
Account Numbers

 Gear > Account and Settings > Advanced > Chart of Accounts > Select Enable
Account Numbers

 Left Navigation Bar > Accounting > Chart of Accounts > Gear > Select Enable
Account Numbers

 Left Navigation Bar > Accounting > Chart of Accounts > New > Select Enable
Account Numbers
 Question 4
What are 2 ways to add a customer to QuickBooks Online?(Select all that
apply)
 

 Sales > Customers > Add New

 + New > Add Customer

 Sales > New Transaction

 Gear icon > Add Customer

 Gear icon > Import Data

Question 5
1. Select Expenses in the left navigation
2. Select the Vendors tab
3. _______________________
4. Select Import vendors
5. Browse for the file you want to upload
6. Select Next
If you’re importing a list of vendors from the Expenses Center, what
would you do at Step 3?
 


 Select the green Add Vendors button

 Select the drop-down arrow next to the green New transaction button

 Select the drop-down arrow next to the green New vendor button

 Select the Export to Excel icon on the right of the current vendor list

Question 6
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?
 

 Banking Center

 Expenses Center

 Accounting Center

 Sales Center
 Question 7
What are the five main account types in the Chart of Accounts?(Select all
that apply)
 

 Assets

 Liabilities

 Bundle

 Income

 Expenses

 Price rules

 Equity

 Payroll

Question 8
 Where can you go in QuickBooks Online to import a list of products and
services?
 

 Select the Create (+) icon and under the Tools column, select Import Data, then
Products and Services

 Select the Gear icon and under the Tools column, select Import Data, then
Products and Services

 Select the Accountant toolbox and under the Tools column, select Import Data,
then Products and Services

Question 9
Which statement is true regarding the Preferred Vendor field in Product
and Services items?
 

 You can add more than one preferred vendor to each product/service item

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

 Preferred vendors must be assigned to utilize Price rules

Question 10
Mariette has confirmed that she will not be tracking the quantity on hand of the products
that she sells.
 What Product/Service type should she select when setting up the items
that she sells?
 

 Non-inventory

 Service

 Inventory

 Sales

Section 3

 Q1
 What other option is available to them, and where in QuickBooks Online can they sign up
for QuickBooks Payments?
Your answer:
There is another plan which means the customer pays the transaction charge; In the Billing and
Subscription tab of Account and Settings
Edit answer

 Q2
 The search box in the Client apps screen allows you to search for apps by which 2
criteria?
Your answer:
Name of the app
Apps others connected
Edit answer

 Q3
 Where can a Master Admin Accountant User view the apps connected to a client’s
QuickBooks Online account from within QuickBooks Online Accountant?
Your answer:
Left Navigation bar > Apps > Client Apps
 Edit answer

 Q4
 Where would you go in QuickBooks Online to see the range of default and extra lists that
are available?
Your answer:
Gear icon and All Lists
Edit answer

 Q5
 Which 2 are the payroll options available inside QuickBooks Online companies?
Your answer:
QuickBooks Online Full Service Payroll
QuickBooks Online Self-Service Payroll
Edit answer

 Q6
 Where would you go to find these lists?
Your answer:
Go to the Gear icon and select All Lists
Edit answer

 Q7
 What information is needed to set up sales tax in QuickBooks Online for a client who
only does business in their home state? Select the 4 options you think apply.
Your answer:
Their company address
When their last tax period started
How often they have to file a tax return
When they started collecting sales tax for the agency
Edit answer

 Q8
 Which 3 navigation features are missing in a Reports Only user’s view?
Your answer:
Navigation panel
Search box
+ New button
Edit answer

 Q9
 Which 3 features should you suggest to your clients to build their brand recognition?
Your answer:
Get choosy with your fonts and use a font type that matches the company’s branding scheme
Add company logo to customer sales forms
Add a splash of color that matches the company’s branding scheme
 Edit answer

Section 4

 Q1
 The statement can be downloaded in which 2 file formats?
Your answer:
CSV
PDF
Edit answer

 Q2
 What are the 3 levels of access that can be granted to Team users of QuickBooks Online
Accountant?
Your answer:
Full access
Basic access
Custom access
Edit answer

 Q3
 Which settings should Heather select to give Esther the appropriate access to her firm’s
books?
Your answer:
C
Edit answer

 Q4
 Which of these options is correct if you want to set up a recurring project for the same
client?
Your answer:
Create a new project and select the Repeat button, then set the frequency and duration
Edit answer

 Q5
 Which 3 of the below statements are correct regarding this feature?
Your answer:
Selecting Create client request on the Work screen begins the process
Checking the Notify client checkbox means the client will be sent an email
To update the status of the request, select the request, then the Status drop-down
Edit answer

 Q6
 What are 3 benefits of adding non-QuickBooks Online clients to your Client List in
QuickBooks Online Accountant?
 Your answer:
You can keep all client contact info, notes and documents in one place
You can access all your ProConnect Tax Online clients from the same dashboard
You can share documents stored in QuickBooks Online Accountant with the client

Section 5

 Q1
 Based on the relationship and agreement with the vendors, what are the 2 vendor
workflow options to pay your vendors?
Your answer:
Bill > Pay Bills
Create Purchase Order
Edit answer

 Q2
 What 2 problems will this cause?
Your answer:
They will create duplicate expenses
Their Accounts Receivable balance will not be accurate
Edit answer

 Q3
 When the Sales Tax feature is enabled in QuickBooks Online, where must you record
sales tax payments?
Your answer:
Sales Tax Center
Edit answer

 Q4
 What are 2 tools you can use to identify possible issues in a QuickBooks Online
Company?
Your answer:
Transaction Journal
Audit Log
Edit answer

 Q5
 Which of the options below correctly fills in the blanks?
Your answer:
To match your bank register with your bank statement; 2. the Deposit to account is Undeposited
Funds
Edit answer

 Q6
 What are 4 status types that can be assigned to an Estimate in QuickBooks Online?
 Your answer:
Pending
Accepted
Closed
Rejected
Edit answer

 Q7
 When using the Copy to Purchase Order feature from within an Estimate, Use Purchase
orders must be turned on in which area?
Your answer:
Account and Settings > Expenses > Purchase orders
Edit answer

 Q8
 What 3 types of customer statements can be generated by QuickBooks Online?
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
Edit answer

 Q9
 When a vendor credit is recorded by a QuickBooks Online user, what are 2 ways to use
the vendor credit?
Your answer:
Apply it to an existing bill
Hold on to it and apply it to a future bill
Edit answer

 Q10
 When should you use Add other funds to this deposit grid in a Deposit Transaction?
Identify 3 correct options.
Your answer:
When an employee reimburses the company
You receive a tax refund from the IRS
When a company doesn’t record income using sales transactions (invoices or sales receipts), and
wants to record deposits directly to income accounts
Edit answer

 Q11
 Which statement about journal entries in QuickBooks Online is true?
Your answer:
Your client can’t create an Adjusting Journal Entry
Edit answer
 Q12
 Where should they start the process?
Your answer:
Navigate to the Create (+) icon, then find the Transfer link
Edit answer

 Q13
 How can a customer pay an emailed QuickBooks Online invoice via credit card?
Your answer:
Select Review and pay > Enter payment details > Pay
Edit answer

Section 6

 Q1
 What report in QuickBooks Online will show whether a client was profitable for a
specific period?
Your answer:
Profit & Loss
Edit answer

 Q2
 Which 2 vendor workflows will enable her to create reports with this data?
Your answer:
Create Expense with product/service items
Create Expense with account/category detail
Edit answer

 Q3
 Which report should you run to list all customers who currently owe balances and how
old the balances are?
Your answer:
A/R Aging Summary
Edit answer

 Q4
 Which report should she run to find that information?
Your answer:
Sales by Customer Summary
Edit answer

 Q5
 Under which report category heading will she find the report she needs?
Your answer:
Who owes you
Edit answer
 Q6
 Which is the best definition of cash-basis reporting?
Your answer:
Cash-basis reports display income as of the date the customer payment is received/recorded and
expenses as of the date a vendor bill is paid
Edit answer

Section 7

 Q1
 Where can you go in the Banking Center to review downloaded bank feed transactions
that have already been matched to existing transactions in QuickBooks Online?
Your answer:
Recognized tab
Edit answer

 Q2
 How can you filter the For Review tab to see all the transactions QuickBooks Online
thinks it has found a good match for?
Your answer:
Click on the Recognized tab
Edit answer

 Q3
 Which 2 statements regarding Bank Feed best practice workflows are correct?
Your answer:
You should complete Match transactions first, then move on to Add transactions
You should match downloaded Bank Feed transactions to Invoice Payments, Sales Receipts,
Deposits, or open invoices
Edit answer

 Q4
 Which option explains how to enable email receipt forwarding in QuickBooks Online?
Your answer:
Select Banking > Receipts > Register your email to get started
Edit answer

 Q5
 Which 4 statements are correct regarding the QuickBooks Online Receipt Capture
feature?
Your answer:
The Receipt Capture feature uses Optical Character Recognition (OCR) technology to read and
transform receipt data to QuickBooks Online
If QuickBooks Online finds an expense already entered in QuickBooks Online, it will suggest
that you match the receipt to the existing transaction
QuickBooks Online will fill in the fields it can for the expense using the OCR data
 You can assign a payee, account, payment date, category, description, amount, and memo to the
expense transaction in the Review screen
Edit answer

 Q6
 What should she do?
Your answer:
Select the reconciled transactions > Batch Actions > Exclude Selected
Edit answer

 Q7
 QuickBooks Online allows the creation of Bank Rules, but when would you use them?
Identify the 3 correct statements.
Your answer:
Automatically split a transaction
Automatically assign a transaction type
Automatically assign a payee to the transaction
Edit answer

 Q8
 What are 3 important reasons to reconcile bank and credit card accounts at set dates?
Your answer:
To verify that an account balance is within its credit limit
To verify that all transactions have been recorded for the period
To verify that previously reconciled transactions have not been changed since the last
reconciliation
Edit answer

 Q9
 Which 2 statements are correct regarding reconciling a bank account in QuickBooks
Online?
Your 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
Edit answer

 Q10
 What are two ways to begin setting up a Recurring Transaction in QuickBooks Online?
Your answer:
Select Make Recurring at the bottom of a transaction
Select Gear > Recurring Transactions
Edit answer

 Q11
 Fill in the missing words in this statement.
Your answer:
match, add, cleared
Edit answer

Section 8

 Q1
 Which option correctly completes the sentence?
Your answer:
Accountant Toolbox
Edit answer

 Q2
 Which Accountants Only Tool allows for categorizing a couple of transactions or a large
batch of transactions in only a few clicks?
Your answer:
Reclassify Transactions
Edit answer

 Q3
 In the Reclassify transaction screen, which 2 elements of a transaction can be
reclassified?
Your answer:
Accounts
Classes
Edit answer

 Q4
 When should an Accountant user use the Write Off tool?
Your answer:
When a client has outstanding invoices that will not be paid
Edit answer

 Q5
 Is it possible for a client to change transactions in a QuickBooks Online company if the
books have been closed with a closing date password? If so, how would you track any changes to
transactions within the closed period?
Your answer:
Yes, but only if they know the password and changes are flagged in an Exceptions to Closing
Date report
Edit answer

 Q6
 What 2 options could you use to navigate from a client’s QuickBooks Online company
dashboard to the Exceptions to Closing Date report?
 Your answer:
Accountant Toolbox > Accountant Reports > For My Accountant
Reports center via the left navigation > For My Accountant
Edit answer

 Q7
 Why might an Accountant user not see the Exceptions to Closing Date report in a
QuickBooks Online company?
Your answer:
The Accountant user does not have the required permissions to view the report
Edit answer

 Q8
 What are 3 Accountant tools in QuickBooks Online?
Your answer:
Reclassify Transactions
Accountant reports
Report tools
Edit answer

 Q9
 Once the Prep for taxes screen has been reviewed and the data is ready to hand off to the
tax preparer, which 3 tax options are available?
Your answer:
Create new return
Update an existing return
Export CSV file
Edit answer

 Q10
 How can you change the type of tax return selected for a company in the Prep for taxes
tool?
Your answer:
Select the Tax mapping tab > select the Pencil icon next to the tax form name > select the new
tax form from the list > click Save
Edit answer