QuickBooks Sample Questions & Answers
Why would you hide or collapse sub accounts on a report?(Ans- To temporarily hide unnecessary detail and hide parent accounts
What should you do after you click and Save and Close on a Customer Memo?(Ans- Choose between retained as an available credit, give a refund or apply an invoice
Which of the following CAN be memorized in QuickBooks?(Ans- Checks
Which is not a Payroll Summary Report in QuickBooks?(Ans- 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?(Ans- Record a transaction to show the customer owes you money and that the checking balance has decreased by the same amount
Suppose you always want all reports to show a specific size and color, how do you set the standard or preference in QuickBooks so you don't have customize each report?(Ans- Click the reports menu reports and select global report preferences
Suppose you want to restrict which users can access customer credit card numbers. How do you do this?(Ans- Give the user access to sales and accounts receivable but do not check the complete credit card numbers
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Which of the following is the possible reason for a bank reconciliation discrepancy?(Ans- The bank reconciliation is on a cash basis instead of accrual basis.
Which of the following statements is TRUE regarding Undeposited Funds?(Ans- It is account used to record payments before you make a deposit.
Which accounts are affected when you enter QuickBooks?(Ans- Accounts Receivable
Workers who require a W2 tax form at the end of the year should be added to which of the following lists (Ans- Employees
If you have customized report that you use each month, which feature lets you run the report with updated data each month.(Ans- Memorize Report
What is the primary reason for setting a closing date in QuickBooks?(Ans- 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?(Ans- Enter 40,000 in the payroll info window
What steps must you complete to use the payroll liabilities?(Ans- Set deposit frequencies
Name the section in the Balance Sheet (Ans- Assets, Liabilities & Equity
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When you create a new company file, QuickBooks asks for your start date.What is the best definition to start date in QuickBooks (Ans- The day you chose to start recording the financial records in QuickBooks.
Which of the following statements is NOT true regarding entering and paying bills in QuickBooks?(Ans- If you use the enter bill windows to record a bill, do not use the write checks window or check register to pay the same bill.
How do you use a different forms template when creating a new transaction? (i.e. Invoice) (Ans- Open the form, click the templates drop down list and select the appropriate form.
How do you change the report basis, accrual vs. cash for just one report?(Ans- Click the modify report button on the report and then choose accrual or cash on the display pad.
How would you track customer birth dates in QuickBooks?(Ans- Add a custom field to the customer list
How do you change the text in the header/footer of a report?(Ans- Click the Modify report button on the report and then change the header footer tab.
Where can you see a thumbnail sample of each report in QuickBooks along with a description of what the report tells you?(Ans- Report Center
What transaction in QuickBooks should you use if your customer pays you when you provide the goods or services?(Ans- Sales Receipt
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