QuickBooks Online Certification Test Study
Guide 2024 with Complete Solutions
What does a plus account let you do as an overview?
Manage Bills, Track billable time, track inventory
What is Matching Expenses?
Using money spent for the business converts into expenses on quickbooks to match the amount
spent.
Self employed and simple start contains how many seats?
one
How many seats are in Plus?
up to 5 users
What is one factor to consider when choosing a QuickBooks Online Plan?
How many users and the type of business.
Which two Quickbooks Online plans are ideal for freelancers, entrepreneurs, and small businesses
that only sell one service?
Self employed and simple start
How many user seats does the advance plan include?
25
List three benefits of using Quickbooks Online?
Better shared access to data with employees and accountants. No software or local data to manage
and access anywhere. Automatic app sync with nightly download.
According the to the QuickBooks software license agreement, what are the authorized users?
Means any and all individuals who you designated or authorized to access and / or modify software
data on your behalf.
What happens if a company allows more that the allotted number of users on their QBO plan yto
access and modify data?
Breaches the license agreement with legal repercussions. (fine or court order).
When migrating desktop information to the online version of QuickBooks, the desktop information
automatically updates the newest version. True or False.
True
What is the first step in migrating data?
Select settings and then import desktop data
, What is the second step in migrating data?
Select online migration tool then get started.
What is the third step in migrating data?
Elect my files, temporary files, then elect your file and refresh.
What type of information will not migrate to QuickBooks online?
Multi currency functions, transaction line item lists of over 350k , memorized or port transactions.
How does one reconcile accounts to ensure the data transfer was successful?
Run a profit and loss report and balance sheet report for both your desktop and online accounts to
make sure they balance.
What type of accounting should one use for the reconciliation process?
Accrual Accounting
Name three types of user roles that do not count toward the QBO user limit.
Reports only, time tracking only, and take payment only.
Which user role has complete access to see and do everything with an account?
Admin User
Can only one user be assigned the company admin role?
yes
Which user role does not have complete access to an account but can enter invoices, sales, and
expenses, and work with costumer and vendor lists?
Standard Users
Name two types of user roles that count towards the Quickbooks user limit.
Standard user and admin user
Which user role allows employees to track their hours?
Time tracking
What can a standard user do?
Invoices, sales, expenses. They can work with a customer and vendor lists to manage subscriptions.
Update company info. Also enter time sheet data.
What can take payments only person do?
Can take payments with the QuickBooks GoPayment app, but can't access the rest of your QuickBooks
company.
What can Reports only person do?
Guide 2024 with Complete Solutions
What does a plus account let you do as an overview?
Manage Bills, Track billable time, track inventory
What is Matching Expenses?
Using money spent for the business converts into expenses on quickbooks to match the amount
spent.
Self employed and simple start contains how many seats?
one
How many seats are in Plus?
up to 5 users
What is one factor to consider when choosing a QuickBooks Online Plan?
How many users and the type of business.
Which two Quickbooks Online plans are ideal for freelancers, entrepreneurs, and small businesses
that only sell one service?
Self employed and simple start
How many user seats does the advance plan include?
25
List three benefits of using Quickbooks Online?
Better shared access to data with employees and accountants. No software or local data to manage
and access anywhere. Automatic app sync with nightly download.
According the to the QuickBooks software license agreement, what are the authorized users?
Means any and all individuals who you designated or authorized to access and / or modify software
data on your behalf.
What happens if a company allows more that the allotted number of users on their QBO plan yto
access and modify data?
Breaches the license agreement with legal repercussions. (fine or court order).
When migrating desktop information to the online version of QuickBooks, the desktop information
automatically updates the newest version. True or False.
True
What is the first step in migrating data?
Select settings and then import desktop data
, What is the second step in migrating data?
Select online migration tool then get started.
What is the third step in migrating data?
Elect my files, temporary files, then elect your file and refresh.
What type of information will not migrate to QuickBooks online?
Multi currency functions, transaction line item lists of over 350k , memorized or port transactions.
How does one reconcile accounts to ensure the data transfer was successful?
Run a profit and loss report and balance sheet report for both your desktop and online accounts to
make sure they balance.
What type of accounting should one use for the reconciliation process?
Accrual Accounting
Name three types of user roles that do not count toward the QBO user limit.
Reports only, time tracking only, and take payment only.
Which user role has complete access to see and do everything with an account?
Admin User
Can only one user be assigned the company admin role?
yes
Which user role does not have complete access to an account but can enter invoices, sales, and
expenses, and work with costumer and vendor lists?
Standard Users
Name two types of user roles that count towards the Quickbooks user limit.
Standard user and admin user
Which user role allows employees to track their hours?
Time tracking
What can a standard user do?
Invoices, sales, expenses. They can work with a customer and vendor lists to manage subscriptions.
Update company info. Also enter time sheet data.
What can take payments only person do?
Can take payments with the QuickBooks GoPayment app, but can't access the rest of your QuickBooks
company.
What can Reports only person do?
