Question 12 of 15
What is a unique feature of the Quick Create button when you are on the Client List screen in QuickBooks Online Accountant?
A. Add User
B. Edit Client List
C. Turn On Payroll
D. Upload Document
E. Manage Preferences
Question 13 of 15
Where can you manage your settings for Wholesale Billing?
A. Gear Icon > Your Account
B. Gear Icon > Wholesale Billing
C. Gear Icon > Company Settings
D. Your Books > Customer Center > Customer Detail Page
E. Each Wholesale Billing subscription is managed in each QuickBooks Online company’s Company Settings
Question 14 of 15
In QuickBooks Online Accountant, which of the following is the quickest way to open a client’s QuickBooks Online company?
A. Click on the company name hyperlink in the Client List
B. Click on the QB icon in the Bookkeeping Status column of the client list
C. Right click on the company name hyperlink in the Client list, then choose ‘Go to QuickBooks’
D. Open an incognito window and log in to qbo.intuit.com with the client’s master administrator username and password
E. From the Your Books section, choose the company from the Customer Center, then click the QB icon from the customer detail page
Question 15 of 15
What happens when you ‘inactivate’ a company in the Client Details page of QuickBooks Online Accountant?
A. The company no longer shows on your firm’s Client List
B. Your accountant access to that QuickBooks Online company is deleted
C. The QuickBooks Online subscription for that company is suspended until you reactivate the company
D. Your client’s access to that QuickBooks Online company is deleted if you are the master administrator
E. The Master Admin rights are automatically transferred to your client and the company is removed from your client list
Question 1 of 15
Donna has categorized all payments for building power and water as Rent. These payments should have been categorized as Utilities. In QuickBooks Online Accountant, which tool will be the most useful to remedy this issue?
A. Reclassify Transactions
B. Undo Bank Reconciliation
C. Write off invoices in a batch
D. Enter Adjusting Journal Entries
E. Repair transactions in Register
Question 2 of 15
Every quarter you close out Wayne’s books and run a quarterly comparison report package for him. This quarter, you notice that numbers are not aligning with your last report package. What is the best way to identify changes made to a closed period?
A. Reports > Accountant Reports > Exceptions to Closing Date
B. Reconciliation History > Look for deleted/changes transactions
C. Tools/Gear Icon > Company Settings > Advanced > Closing Date
D. Tools/Gear Icon > Audit Log > Filter for changes made to closed period
E. Reports > All Reports > Business Overview > Changes to Closed Period
Question 3 of 15
Aside from the Client List, where else can you begin a ProConnect Tax Online tax return from QuickBooks Online?
A. The Company Tools when logged in as an Accountant user
B. The Company Tools when logged in as Master Administrator
C. The Accountant ToolBox when logged in as the Accountant user
D. The Taxes tab from the left side navigation bar in QuickBooks Online Accountant
E. The Taxes tab from the left side navigation bar when logged in as Master Administrator
Question 4 of 15
MB’s School of Beauty calls you because their beginning balance is off in their reconciliation window for their checking account. You log in and see that there are many transactions that were changed/deleted on the last couple of months’ reconciliations. She likes to do as much she can on her own. Which of the following next steps would you take?
A. Enter a journal entry to Opening Balance Equity to compensate for the difference
B. Advise her to use the Undo button to undo the reconciliation and re-reconcile the account
C. Undo the previous months’ reconciliations for her so that she can re-reconcile each month
D. Advise her to complete the reconciliation as normal, then use the auto-adjustment feature to balance the reconciliation
E. Re-enter the changed/deleted transactions and manually reconcile them in the register, then advise her to complete the current month’s reconciliation as usual
Question 5 of 15
Which of the following describes the functionality of the Close Books tool?
A. Locks transactions prior to a certain date
B. Cancels the QuickBooks Online subscription
C. Purges transaction history prior to a certain date
D. Sets user permissions to certain areas of the books
E. Closes the QuickBooks Online company and returns you to the Client List
Question 6 of 15
How can you set the default date for most reports?
A. Accountant Toolbox > Report Tools
B. Accountant Toolbox > Default Settings
C. Accountant Toolbox > Settings and Reports
D. Gear Icon > Manage My Account > Defaults
E. Gear Icon > Account and Settings > Advanced > Accounting
Question 7 of 15
The Write off invoices tool does which of the following?
A. Takes into account sales tax
B. Creates credit memo in the current period
C. Creates credit memo as of the invoice date
D. Creates a discount on the invoice as of the invoice date
E. Allows you to choose which item from the Products and Services list to use
Question 8 of 15
Ben set up one expense account for each one of his shipping vendors in the Chart of Accounts and wants to consolidate the balances into one shipping expense account. Which of the following is the best option to help Ben reach his goal?
A. Merge accounts with the Merge Account button in the Chart of Accounts
B. Merge the old shipping accounts by renaming them with the new shipping expense account name
C. Delete all incorrectly mapped transactions and re-enter them to the new shipping expense account
D. Delete the old shipping accounts and map future transactions to the new shipping expense account
E. Use the reclassify transactions tool to reclassify the transactions to the new shipping expense account
Question 9 of 15
Hector’s Hobby Shop has bank accounts and credit cards synced with QuickBooks Online; however, his credit card sync has stopped working and has red errors in the Bank Feeds center. He tries the Update button, but gets errors. What is the first thing you should try in order to repair the banking connection?
A. Import a .qbo file
B. Delete the account sync from the Bank Feed Center, then reconnect
C. Contact Hector’s bank to determine why the connection isn’t working
D. Click Add Account to add the account to the Bank Feed Center with a new connection. Then, merge the two accounts
E. Click on the pencil to edit the account details. Then, update the account sign in information for the account that isn’t working
Question 10 of 15
Why wouldn’t you want to post a payment against an invoice directly to a bank account?
A. It will duplicate income
B. It will create a negative Accounts Receivable
C. It won’t reduce Accounts Receivable correctly
D. The deposits from the bank statement automatically post to income
E. The deposits in QuickBooks generally won’t match up with the deposits on the bank statement
Question 11 of 15
When running reports for Mariette’s Marketing in QuickBooks Online, you notice that the income amount is unusually high but A/R balances look okay. Which of the following errors could be the reason?
A. Received Payments posted directly to the bank account
B. Used journal entries to record income instead of invoices
C. Entered customer credits to get their A/R balances to be correct
D. Received Payments against Invoices, then posted Payments to Deposits
E. Received Payments against invoices, then posted Deposits to income accounts
Question 12 of 15
Your client calls you to figure out why he suddenly has an amount showing in his balance sheet for Opening Balance Equity. Which of the following errors could he have made that would result in a balance existing in the Opening Balance Equity account?
A. Condensed the file
B. Entered an owner’s draw banking transfer
C. Entered an owner’s draw banking transfer
D. Received new inventory items on a bill without making a purchase order
E. Entered an opening balance when setting up the liability account for a new truck purchase
Question 13 of 15
Your client recorded a check in the prior fiscal year that did not clear and was re-issued in the current fiscal year. They are accrual based taxpayers and the return for the prior fiscal year has been completed. Which of the following is the best method to repair this issue?
A. Use the Write Off Invoices tool to void the check in the current fiscal year
B. Delete/void the check from the prior fiscal year and create a new check in the current fiscal year
C. Delete the check and re-enter as a bill payment using the same check number and date originally used
D. Change the date and the check number of the original check entered in the prior fiscal year to match the new check number and date
E. Create a deposit to the same expense account as the original check but dated in the current period, then reconcile them against each other
Question 14 of 15
Trudie Lyn calls you because a bill is still showing due but she knows she paid it and her bank and credit cards are all reconciled. You determined she recorded an expense instead of paying the bill through bill payment. What steps would you take to repair this issue?
A. Delete the bill
B. Delete the expense and create a bill payment
C. Enter a credit memo to offset the amount of the bill
D. Open the expense and add the bill from the transaction drawer
E. Created a delayed credit and when the next bill comes, apply the delayed credit to the bill
Question 15 of 15
When going in to reconcile a bank account, you realize that the beginning balance does not match the statement. Where can you view changes made to a bank account’s reconciled period?
A. Chart of Accounts
B. Audit Trail Report
C. Reconciliation Report
D. Reconciliation History
E. Banking Changes screen