Your company had to return some goods to a vendor. How do you record the vendor credit in QuickBooks?

Enter bill then click credit on top of the bill.

QuickBooks refunds the credit on the home page.

In the pay bills window, select refunds and credits.

Where can billable expenses be set up?

Settings - Account and Settings - Expenses

Settings - Account and Settings - Advanced

You been asked to move the name of the customer and the customer center from the top of the list to the bottom of the list. How do you do this without renaming the customer?

Click on the diamond to the left of the name and then drag the name up or down to the desired location.

Click to the right of the name then drag the name up or down the list

You can't move list entries to different location on the list

Right-click on the name then select sort by selection.

Which of the following is an example of Service.

Catering by the hour if someone asked you to help with the party.

Cans of soda pop and energy bars that you buy in bulk, store in the van, and then sell.

You allow customers to buy a handful (whatever their hand can hold of chocolates) for dessert. You don’t track the number.

A quick lunch special that you make by attaching an energy bar to a can of soda.

List entries may be deleted only when:

There is no balance, it has not been uses and is not linked to anything that has been used.

List entries can never be deleted.

You entered a valid security password.

The entry has not been used in the current year.

Which two of the following steps are not needed to restore a company file?

Make sure the Homepage is open.

Select Restore a backup copy click next and follow the steps

You are setting up a service item. What happens if you select the box next to this "service is performed by a subcontractor or partner"?

QuickBooks provides fields so you can track purchase and sales information for that item.

QuickBooks makes the item a payroll item.

QuickBooks automatically sets up a 1099 tracking.

QuickBooks automatically marks this item for time tracking.

When should you use the items tab on a bill or check?

When you purchase inventory parts.

To see if expenses are recorded accurately.

The bank notifies you that a customer's check you have deposited has bounced. The customer did not have sufficient funds to cover the check. What should you NOT do?

Delete the customer's payment from the deposit.

Call the customer and tell him to send another check.

Record a transaction to show the customer owes you the money and the checking balance had decreased that same amount.

Charge your customer a bounced check fee.

Which of the following is a reason restore a company file?

To start over when a company file has many errors that are beyond repair.

To start recording transactions for a new year because each file tracks only one fiscal year.

QuickBooks cannot create more than one file.

he current company file has reached a limit of 1,000 transactions.

Which of the following is a possible reason for a bank reconciliation discrepancy?

The bank reconciliation is on a cash basis instead of the correct accrual basis.

You did not record checks in QuickBooks that are dated after the bank statement date.

The QuickBooks Balance will never match the banks' balance.

The beginning balance calculated by QuickBooks does not match last months ending balance.

You're setting up a new customer and the customer's invoices should be due 30 days after they are issued. How do you do that?

Set the customer's terms to Net30

Set the due date on the next invoice you enter for the customer. After that, QuickBooks will remember

You have to set this on each invoice you enter for the customer

Select the checkbox next to due in 30 days

Which of the following CANNOT be entered during the setup of a new company?

Checking account statement balance

What is the quickest way to find an invoice from 6 months ago?

Open an invoice and click the find button.

Click the Help menu, search for invoice by date.

Click the help and search for the invoice by number.

Click the previous button until you find the invoice.

How would you track customer birth dates in QuickBooks?

Add a custom field to the customer list.

Use the built in Excel link to track the information.

Use track additional data feature in the customer center.

You cannot track customer's birthdays.

You need to restore a company file from a backup. Which is step number one?

Make sure the Homepage is open.

Select Restore a backup copy click next and follow the steps

Once you have completed the sign up of new company file, how do you change company information such as business name, address, or phone number?

Select company information from the menu.

Select file, open company from the menu.

Select file Express Start from the menu.

Select edit preferences from the menu.

What should you do after you click Save & Close on a Customer Credit Memo?

Choose between retained as an available credit, give a refund or apply to an invoice.

Apply the credit memo against the customer's balance using the receive payments window.

Apply the credit memo used in the Pay Bills window

What is the primary reason for setting a closing date in QuickBooks?

To restrict users from deleting, editing or adding transactions to last year.

To transfer current year net income to retained earnings.

To delete prior year transactions.

QuickBooks Practice 1

Quiz

•

Business

•

12th Grade

•

Practice Problem

•

Hard

Monica Brown

Used 5+ times

FREE Resource

35 questions

Show all answers

1.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Which user types do not have permissions to view customer or vendor information? Choose two answers.

Accountants

Custom user

Reports only

Time tracking only

2.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Which user types do not have permissions to view customer or vendor information? Choose two answers.

Accountants

Custom user

Reports only

Time tracking only

3.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

You purchased something with a debit card, which of the following is not a step?

From the chart of accounts set up a credit card type account named debit card.

Enter who you paid how much and what it was for, expense account.

On the homepage record credit card charge

Open the Write Checks window. Type debit in the number field type, who you paid, how much and what it was for, expense account.

Choose Save and Close

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Customer received goods and services but hasn’t paid yet.

Statement

Sales receipt

Estimate

Sales Orders

Invoice

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Your company no longer sells a particular item. You’ve been asked to make the item inactive. Which is step two?

Open the Item List

Drag the Item off the list

Select make Item Inactive

Click on the Item you want to hide

Click the Item drop-down arrow at the bottom left of the window.

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which form CANNOT be customized?

Estimate

Invoice

Sales Receipt

Bill

7.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Your company sells unique items to every customer. They never sell the same service or product twice. What item should you set up in QuickBooks?

Set up a generic item and edit the description and price each time.

Click the one time use button in the new item window.

Set up unique items for each sale and make them inactive after the sale.

Do not use items when invoicing the customer.

Access all questions and much more by creating a free account

Create resources

Host any resource

Get auto-graded reports

Continue with Google

Continue with Email

Continue with Classlink

Continue with Clever

or continue with

Microsoft

Apple

Others

Already have an account?

Similar Resources on Wayground

30 questions

Digital Media - Photoshop Tools and Shortcuts

Quiz

•

9th - 12th Grade

30 questions

Chapter 11 Principles of Business 9e Business & Technology

Quiz

•

9th - 12th Grade

33 questions

Chapter 11 Review: Marketing

Quiz

•

9th Grade - University

30 questions

Professionalism Review

Quiz

•

10th - 12th Grade

30 questions

Study Area 3 Class Created Quiz

Quiz

•

12th Grade

31 questions

Principles of Management

Quiz

•

12th Grade

32 questions

Insurance Review

Quiz

•

12th Grade

40 questions

Workplace Communication

Quiz

•

9th - 12th Grade

Popular Resources on Wayground

7 questions

History of Valentine's Day

Interactive video

•

4th Grade

15 questions

Fractions on a Number Line

Quiz

•

3rd Grade

20 questions

Equivalent Fractions

Quiz

•

3rd Grade

25 questions

Multiplication Facts

Quiz

•

5th Grade

$fractions$

22 questions

fractions

Quiz

•

3rd Grade

15 questions

Valentine's Day Trivia

Quiz

•

3rd Grade

20 questions

Main Idea and Details

Quiz

•

5th Grade

20 questions

Context Clues

Quiz

•

6th Grade

Discover more resources for Business

13 questions

BizInnovator Startup - Experience and Overview

Quiz

•

9th - 12th Grade

10 questions

Understanding Stock Market Investing

Interactive video

•

9th - 12th Grade

12 questions

Time Management Lesson

Lesson

•

1st - 12th Grade

20 questions

Review for Business Essentials 2.05

Quiz

•

9th - 12th Grade

QuickBooks Practice 1

35 questions

Which user types do not have permissions to view customer or vendor information? Choose two answers.

Which user types do not have permissions to view customer or vendor information? Choose two answers.

You purchased something with a debit card, which of the following is not a step?

Customer received goods and services but hasn’t paid yet.

Your company no longer sells a particular item. You’ve been asked to make the item inactive. Which is step two?

Which form CANNOT be customized?

Your company sells unique items to every customer. They never sell the same service or product twice. What item should you set up in QuickBooks?

You want to remind a customer about the outstanding invoices they still owe you for.

Your company had to return some goods to a vendor. How do you record the vendor credit in QuickBooks?

Where can billable expenses be set up?

Access all questions and much more by creating a free account

Similar Resources on Wayground

Popular Resources on Wayground

Discover more resources for Business