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QBO Online Exam:
Question 1 of 50
Where can you access the sample company - Long For Successful Events?
AYou must create the sample company using the add client option on your client list
BFrom the settings cog when signed into a QuickBooks Online Accountant company
CFrom within the ProAdvisor portal
DFrom the Your Books section of the QuickBooks Online Accountant dashboard
Question 2 of 50
Which heading is not shown from the New button?
ACustomers
BSuppliers
CEmployees
DBank
Page 1 of 11
Question 3 of 50
Where can you access account settings, lists, and tools?
AThe New button
BHelp
CQB Accountant logo
DSettings cog
Question 4 of 50
How can your QuickBooks Online clients accept online payments from customers?
ABy selecting the settings cog on an invoice and ticking the box accept online payments
BBy using the QuickBooks Online mobile app
CBy linking with 3rd party applications like PayPal and GoCardless
DBy ticking the box which says accept online payments in the advanced sales settings
Question 5 of 50
When you receive card payments through the PayPal integration with QuickBooks you
get preferential rates on card transactions fees. True or False?
ATrue
BFalse
:
Question 6 of 50
The New button consists of which of the following transaction categories?
AMoney in, Money out, Payroll, Other
BCustomers, Suppliers, Payroll, Other
CCustomers, Suppliers, Employees, Other
DCustomers, Suppliers, Employees, Taxes
Question 7 of 50
In which list in the sales centre could you find shortcuts to recurring invoices and
recurring sales templates?
AOverview
BAll Sales
CInvoices
DCustomers
Question 8 of 50
Which of the following details is compulsory on an invoice?
ADescription
BBilling address
CAttachment
DCustomer
Question 9 of 50
Which icon on an invoice will show you all of your recent invoices?
AClock icon
BSettings cog
CQuickBooks icon
DQuestion mark icon
Question 10 of 50
If you have an invoice dated 01/10/2020 with a due date of 31/10/2020, what would
you expect to see in the Terms box?
ANet 60
BNet 30
CNet 15
DDue on receipt
Question 11 of 50
When is a sales receipt used?
AWhen payment is received at the same time as goods or a service is provided
BTo record the payment of an invoice
CTo record delivery of goods
DWhen we have run out of invoice paper
Question 12 of 50
A status of rejected can be applied to an estimate. True or False?
ATrue
BFalse
Question 13 of 50
What actions have been taken if you are reviewing customer transactions and you can
see an invoice has a status of paid. (There are two correct answers.)
The open invoice has been matched within the Banking centre
A sales receipt has been created
A bank deposit has been entered
The receive payment option has been used
Question 14 of 50
Which of the following letters can be used as a shortcut in a date box?
AR
:
BE
CA
DD
Question 15 of 50
You are entering a journal for your client. The date function is currently displaying
today's date. What shortcut can you use to change the date to yesterday's date?
APress the minus button (-)
BPress Y for Yesterday
CPress P for Previous day
DPress F2 for Yesterday
Question 16 of 50
What is the effect of typing 10-6 in any amount/rate field?
A10-6 will show in the field but you will not be able to save the transaction
BYou will see the error message "this field must contain a numeric value"
CQuickBooks Online reads this as ten minus six and puts the number 4 in the amount field
DThe amount field will remain blank
Question 17 of 50
Your client sells different product ranges and they wish to provide customers with
tailored invoices depending on the product range sold. How can this be done?
ACreate a separate QuickBooks Company file with different invoice templates in each
BUse custom form styles and create separate invoice templates
CCreate a bank rule for this type of transaction
DUse a sales receipt instead of an invoice
Question 18 of 50
In which section of invoice customisation would you find the option to add or edit the
logo on your invoice?
ADesign
BContent
CPayments
DEmails
Question 19 of 50
Where in the account and settings area could I turn on tracking expenses and items by
customer and make them billable?
ACompany
BSales
CExpenses
DAdvanced
Question 20 of 50
You have an expense account for Insurance. When entering a bill where can you select
that account?
AItem (Product/Service)
BDescription
CCategory
DMemo
Question 21 of 50
What function can you use to create a bill similar to one that has already been
recorded?
ADuplicate
BCopy
CUse the F9 shortcut
DSave and new
Question 22 of 50
What are the differences between a bill and an expense? (There are two correct
answers.)
You can only add attachments to an expense
:
You can only add attachments to an expense
Only bills contain item details
You must use the payment account on an expense
You can enter terms against bills
Question 23 of 50
Your client has purchased some biscuits using petty cash. How would you record this?
ACreate an expense
BCreate a bill
CAdd the transaction from the bank feed
DUse supplier receipt
Question 24 of 50
After connecting a bank account to QuickBooks Online what are you able to do?
ACancel a direct debit
BSet up a new standing order
CSee transactions for review that you would also see in the online bank transaction listing
DDispute a transaction with your bank
Question 25 of 50
From which tab in the banking centre would you manage the bills or receipts uploaded
using receipt snap?
ABanking
BRules
CReceipts
DReports
Question 26 of 50
A single entry in the For Review section of the banking centre relates to money
received to pay two invoices. What steps do you need to take to match this entry?
ASelect the transaction, use the find match feature and select the correct invoices to match
BExclude and manually receive payment using the New button
CUse the batch function to add/accept transaction
DClick match on the action column
Question 27 of 50
Your client has spent money at the supermarket using their debit card. This expense
has appeared in the For Review section of the Banking centre. What function do you
need to use to allocate this payment to different categories and VAT codes?
AUse the transaction divide feature
BFind and match
CAdd this transaction and then journal between different categories
DSplit the transaction
Question 28 of 50
Your client has paid for fuel using a debit card at three different service stations. These
transactions are left in the For Review tab to be added to QuickBooks Online. What's
the quickest way to add these transactions (payee name not required)?
ACreate expenses manually from the New button and then match
BTick all three transactions, update the transactions in batch and then apply and accept
transactions
CIndividually modify each expense and then add
DExclude all three and then create a single transaction for the combined value
Question 29 of 50
There are transactions in the For Review section of the Banking centre that
QuickBooks Online has identified as being a match. A matched transaction relates to
which of the following?
AOnly transfers made between bank accounts
BOnly unpaid bills or unpaid invoices
COnly supplier payments (paid bills) and customer receipts (paid invoices)
DUnpaid bills/invoices, paid bills/invoices, and transfers, expenses and sales receipts that have
already been recorded
:
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