QuickBooks Quiz
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QuickBooks Quiz
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25 Questions

1. Which two accounts are typically affected by Payroll Items when using the Payroll feature?
2. A customer pays you in full for your product when they order it. Which form should you use to record this transaction in QuickBooks?
3. What does QuickBooks do with net profit at the beginning of a new year?
4. Which QuickBooks feature would you use to compare the net profit for each project you perform for the same customer?
5. When would the Expenses tab on a payroll liability check be used?
6. After creating your Chart of Accounts, you decide some accounts should be subaccounts. How can you make this change?
7. You just hired your first employee. What are the first two steps in QuickBooks to set up your payroll?
8. During the Advanced/Detailed Setup process, you notice there are some accounts you would like to add to your Chart of Accounts that are not on the default list. What is the easiest way to accomplish this?
9. When entering a journal entry, the debits do not equal the credits. What will QuickBooks do in this case?
10. What is QuickReport in QuickBooks?
11. How do you create a loan in QuickBooks?
12. When initially setting up a company through the Advanced/Detailed Setup, which information does QuickBooks require you to enter?
13. When a customer's deposit is recorded using the Make Deposits window, QuickBooks creates a behind-the-scenes journal entry that will do what?
14. How can you edit a collection letter?
15. Each partner in a company is compensated based on the net profit of the work they manage. Which QuickBooks feature would you use to track each partner's net profit?
16. In the case of a subscription or monthly fee, what does the batch invoicing process allow you to do?
17. Last month you successfully reconciled your checking account, but when you try to reconcile this month, the beginning balance calculated by QuickBooks is different from the beginning balance according to the bank. What might have happened?
18. QuickBooks uses a system called double-entry accounting. What does this mean?
19. For whom can you create a password during the Advanced/Detailed Setup?
20. Your accountant calls and needs to know which version of QuickBooks you are using. What is the easiest way to find out?
21. Why would you clear the Bill Received check box when entering a bill on the Enter Bills screen?
22. What happens when you void an invoice?
23. Your rent is the same amount each month. What is an easy way to pay this?
24. Why is it important during payroll setup to enter your deposit frequencies?
25. What feature lets customers know how long they have to pay you?

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