QuickBooks Certification Exam Study Guide
2024/2025 (Updated)
Why would you hide or collapse sub accounts on a report? ANSW - To temporarily hide
unnecessary detail and hide parent accounts
What should you do after you click save & close on a customer credit memo? ANSW - Choose
between retained as an available credit, give a refund or apply to an invoice
Which of the following CAN be memorized in quickbooks? ANSW - check
Which is NOT shown on the payroll summary report on quickbooks? ANSW - information
necessary to complete your state unemployment tax form
The bank notified you that a customer's check you deposited has bounced. The customer did not
have sufficient funds to cover the check. What should you do? ANSW - Record a transaction to
show the customer owes you the money and that the checking balance decreased by that same
amount
Suppose you always want all reports to show a specific size and color,how do you set standard
preference in quickbooks so you don't have to customize each report? ANSW - Click the edit
menu and select preferences then click the reports and graphs group to set preferences
Suppose you want to restrict which users can access customer credit card numbers. How do you
do this? ANSW - Give the user access to sales and accounts receivable but do not check the
complete credit card numbers
Which of the following is a possible reason for a bank reconciliation discrepancy? ANSW - The
beginning balance calculated by quickbooks does not match last months ending balance
, which of the following statements is TRUE regarding Undeposited funds? ANSW - It is an
account used to record payments before you make a deposit
Which accounts are affected when you enter Time in quickbooks? ANSW - Accounts receivable
Workers who require a W2 tax form at the end of the year should be added to which of the
following lists? ANSW - Employee
If you have customized report that you use each month, which feature lets you run the ANSW -
Memorize Report
What is the primary reason for setting a closing date in Quickbooks? ANSW - To restrict users
from deleting, editing or adding transactions to last year
Your new employee earned an annual salary of $40,000. How do you enter this into quickbooks?
ANSW - Enter 40,000 in the payroll info window
What steps must you complete to use the payroll center to pay payroll liabilities ANSW - set
deposit frequencies
Name the section of the balance sheet ANSW - Assets, Liabilities, Equity
When you create a new company file, quickbooks asks for your start date. What is the best
definition of the start date in quickbooks? ANSW - The day you chose to start recording the
finacial records in quickbooks
Which of the following statements is NOT true regarding entering and paying bills in
quickbooks? ANSW - If you use the enter bills window to record a bill, do not use the write
checks window or check register to pay that same bill
How do you use a different forms template when creating a new transaction? (i.e. Invoice)
ANSW - Open the form, click the templates drop down list and select the appropriate form
2024/2025 (Updated)
Why would you hide or collapse sub accounts on a report? ANSW - To temporarily hide
unnecessary detail and hide parent accounts
What should you do after you click save & close on a customer credit memo? ANSW - Choose
between retained as an available credit, give a refund or apply to an invoice
Which of the following CAN be memorized in quickbooks? ANSW - check
Which is NOT shown on the payroll summary report on quickbooks? ANSW - information
necessary to complete your state unemployment tax form
The bank notified you that a customer's check you deposited has bounced. The customer did not
have sufficient funds to cover the check. What should you do? ANSW - Record a transaction to
show the customer owes you the money and that the checking balance decreased by that same
amount
Suppose you always want all reports to show a specific size and color,how do you set standard
preference in quickbooks so you don't have to customize each report? ANSW - Click the edit
menu and select preferences then click the reports and graphs group to set preferences
Suppose you want to restrict which users can access customer credit card numbers. How do you
do this? ANSW - Give the user access to sales and accounts receivable but do not check the
complete credit card numbers
Which of the following is a possible reason for a bank reconciliation discrepancy? ANSW - The
beginning balance calculated by quickbooks does not match last months ending balance
, which of the following statements is TRUE regarding Undeposited funds? ANSW - It is an
account used to record payments before you make a deposit
Which accounts are affected when you enter Time in quickbooks? ANSW - Accounts receivable
Workers who require a W2 tax form at the end of the year should be added to which of the
following lists? ANSW - Employee
If you have customized report that you use each month, which feature lets you run the ANSW -
Memorize Report
What is the primary reason for setting a closing date in Quickbooks? ANSW - To restrict users
from deleting, editing or adding transactions to last year
Your new employee earned an annual salary of $40,000. How do you enter this into quickbooks?
ANSW - Enter 40,000 in the payroll info window
What steps must you complete to use the payroll center to pay payroll liabilities ANSW - set
deposit frequencies
Name the section of the balance sheet ANSW - Assets, Liabilities, Equity
When you create a new company file, quickbooks asks for your start date. What is the best
definition of the start date in quickbooks? ANSW - The day you chose to start recording the
finacial records in quickbooks
Which of the following statements is NOT true regarding entering and paying bills in
quickbooks? ANSW - If you use the enter bills window to record a bill, do not use the write
checks window or check register to pay that same bill
How do you use a different forms template when creating a new transaction? (i.e. Invoice)
ANSW - Open the form, click the templates drop down list and select the appropriate form
