ACCOUNTING QBO TEST PAPER 2026 STUDY
GUIDE REVIEW
◉ The steps to enter information into a journal entry are: Answer: 1.
Select the Account
2. Enter the amount to be credited and debited.
3. Verify the credit/debit amounts are the same
4. Enter a memo.
◉ What are two benefits of extending QBO functionality through
apps? Answer: 1. Apps can automate workflows, bookkeeping,
invoicing, data entry, and more.
2. Apps allow business owners to access their QBO data from their
mobile devices.
◉ When you add products and services as items in QBO, you give
them a type. These help you categorize the products and services for
better tracking. The four item types are: Answer: 1. Inventory
2. Non-inventory
3. Services
4. Bundles
, ◉ Which types of products and services can appear on your Sales
forms? (2) Answer: - Bundle, Services
- Inventory, Non-Inventory
◉ In QBO, if you want the option to reward customers with a
specified reduction on their invoices, you need to: Answer: Activate
discounts.
◉ 1099 workers are Independent Contracts who decide: Answer:
when, how, and where they work.
◉ How do you make expenses and items billable in QBO? Answer: 1.
Settings Icon (gear) --> Account and Settings
2. Expenses Tab
3. From the "Bills & Expenses" section --> Edit (pencil)
4. Enable the following:
- show items table on expense & purchase forms
- Track expenses & items by customer
- make expenses & items billable
◉ What is the Unbilled Costs by Job Report? Answer: identifies
expenses and items billable to a customer
GUIDE REVIEW
◉ The steps to enter information into a journal entry are: Answer: 1.
Select the Account
2. Enter the amount to be credited and debited.
3. Verify the credit/debit amounts are the same
4. Enter a memo.
◉ What are two benefits of extending QBO functionality through
apps? Answer: 1. Apps can automate workflows, bookkeeping,
invoicing, data entry, and more.
2. Apps allow business owners to access their QBO data from their
mobile devices.
◉ When you add products and services as items in QBO, you give
them a type. These help you categorize the products and services for
better tracking. The four item types are: Answer: 1. Inventory
2. Non-inventory
3. Services
4. Bundles
, ◉ Which types of products and services can appear on your Sales
forms? (2) Answer: - Bundle, Services
- Inventory, Non-Inventory
◉ In QBO, if you want the option to reward customers with a
specified reduction on their invoices, you need to: Answer: Activate
discounts.
◉ 1099 workers are Independent Contracts who decide: Answer:
when, how, and where they work.
◉ How do you make expenses and items billable in QBO? Answer: 1.
Settings Icon (gear) --> Account and Settings
2. Expenses Tab
3. From the "Bills & Expenses" section --> Edit (pencil)
4. Enable the following:
- show items table on expense & purchase forms
- Track expenses & items by customer
- make expenses & items billable
◉ What is the Unbilled Costs by Job Report? Answer: identifies
expenses and items billable to a customer
