Form

Your Name

Phone Number

Email Address

1. You receive three Accounts Receivable payments from three customers. What is the first step required to record the deposit?

A. Enter a "Deposit" B. Enter "Sales Receipt" C. Enter "Credit Memo" D. Enter "Receive Payments"

2. During the bank reconciliation process, QuickBooks will ask you to enter all of the following except:

A. The Bank Service Charges B. The Checkbook Balance C. The Statement Closing Date D. The Ending Bank Balance

3. Your supervisor asks you for a check made payable to Petty cash. What is the best way to track the expenditures and remaining balance?

A. Use an expense account called "Unidentified", edit the check when you get receipts B. Enter bills to record the recepits C. Write a check from the Petty cash account, to summarize the recepits D. Write a check from the operating bank account, to replenish the account

4. If you enter a Bill through the "Enter Bills" window, pay the bill through which window?

A. Write checks B. Pay Bills C. Receive bills

5. Which of the following transactions is NOT included in the "Accounts Receivable Register for a Customer:Job

A. Statement Charges B. Invoices C. Cash Sales Receipts D. Credit Memos

6. You can "Enter an Invoice" directly into a "Customer:Job Register"

A. True B. False

7. If you make a mistake when "Entering an Invoice", it is a good idea to delete it and start a new one

A. True B. False

8. QuickBooks transactions related to bills and bill payments are related to what kind of account?

A. Accounts Payable B. Accounts Receivable C. Inventory D. None of the above

9. How do you print the Reminders List?

A. You cannot print the reminders list B. From the Reports Menu, Company, and Financial Section C. From the Help Menu, Reminders Section D. None of the above

10. How do you back up a file from within the QuickBooks program?

A. From the file menu choose Back Up B. You cannot back up from within the program C. From the Company Menu D. From Preferences

11. A "Credit Memo" reduces a "Customer Balance"

A. Always B. Never C. Sometimes

12. One way to back up the Company Data is when you are in the "Multi User" mode

A. True B. False

13. You work for a group of architects with two offices. Since you use "Classes" on all income and expense account, they want to know how much money belongs to office #1. Which report would you run?

A. Standard Balance Sheet B. Standard Profit and Loss C. EIther A or B D. Neither, QuickBooks cannot do that

14. QuickBooks will automatically asses finance charges:

A. every 30 days as long as the correct preference is set B. as invoices are to be printed C. Quickbooks cannot do that D. None of the above

15. What is the best way to see what Customer Balances were last Thursday?

A. The customer list as of last thursday B. Sales by Customer Report as of last Thursday C. Transaction List as of last Thursday D. A/R Aging Summary as of last Thursday

16. Since the Memo Field at the bottom of the Invoice does not appear on the printed form, where does it appear?

A. On some Sales Reports B. By default on Customer Statements C. None of the above D. All of the above

17. If you are using the "Sales Reports", what is the best way to record sales with full payment received at the time of sale?

A. Sales Receipts B. Journal Entry C. Make Deposit Window D. None of the above

18. Which of the following does the Customer Statement show?

A. Previous Balance B. New Invoice Amounts C. Payments Received D. All but one of the above E. All of the above (and more)

19. If you make a direct expense billable to a Customer:job when paying a bill or check, what can you do then?

A. Include the expense on an invoice B. Transfer the expense to a bill but not an invoice C. There is no way to do that in QuickBooks D. None of the above

20. When additional inventory items are purchased the total increases and the average cost per item may change. What happens when items are sold?

A. QuickBooks tracks how many items are left B. QuickBooks enters a line in the account register C. QuickBooks reduces the amount of items D. All of the above

21. Once an inventory item is used, it is possible to:

A. Delete it B. Change it to a different type C. Both of the above D. Neither of the above

22. Is it possible to email invoices directly out of QuickBooks in the Multi User Mode?

A. Yes B. No C. You have to be in Single User Mode D. None of the above

23. The same company is set up as a vendor and a customer. How do you merge the two?

A. Edit the Customer Name, press the change button and then merge B. Edit the Vendor Name and merge C. Either of the above D. Cannot be done

24. The company paid $1000 to an outside consultant last year. A 1099 was not printed. Why?

A. The Consultant is not on the Vendors List B. The 1099 Preference is not turned on C. All of the above D. Should not have been printed

25. Your company wants to raise the sales price of all the products by 4%. What is the easiest way?

A. Preferences, Vendors, and Receivables B. Customers, Change item prices C. File, Change Item Prices D. Edit each item

26. Your State and City each have a sales tax. What is the easiest way to set this up?

A. Use two separate items on each invoice B. You have to do manually each time C. Create two sales tax items and a sales tax group for the invoice D. It cannot be done

27. What does the Vendor List in the Vendor Center display?

A. Vendor Name, Contact Info, Balance owed, and Total sales B. Vendor Name, and Balance owed C. Vendor Name, Contact info, and Balance Owed D. It is customizable, it can show anything you want

28. You only work part time and your boss writes checks manually. What is the BEST way to enter them if they cover a lot of accounts?

A. Journal Entry B. Check Form Screen C. Bank Account Register D. Pay Bills Window

29. What is the best way to track and reconcile a Petty Cash Fund in QuickBooks?

A. Use an Expense Account B. Use a Bank Account C. Do it manually D. Either A or B

30. When doing a Bank Reconciliation what date is used in QuickBooks?

A. The date you are working on it B. The last date of the Month C. The date of the Bank Statement D. The date of the Postmark

31. The company uses credit cards for many items and never pays off the balance. To be accurate this should be recorded in QuickBooks by

A. Enter Bills Window B. Journal Entry C. Thru Credit Card Charges and Payments to the account D. Manually

32. The boss asked that the Account Number assigned by the vendor be shown on all checks. How do you do this in QuickBooks?

A. It can't do it, type them B. Check the box "print account name on voucher" in checking preferences C. Check the preference "autofill payee account number" D. Add manually to check at time of payment

33. The total of the Accounts Receivable report does not match the total on the Balance sheet. Why?

A. A journal entry using accounts receivable B. Unapplied Customer Credit Memo C. Delete Customer Jobs D. All of the above

34. The company's banker has requested a "Net Worth Graph". To provide this from QuickBooks you would

A. Cannot be done B. From the Report Menu go to Accountants & Taxes, Net Worth C. From the Report Menu go to Net Worth Statements D. Export this report to Excel to print

35. The boss has worked with Quicken a lot and has told you to create an archive of the QuickBooks file every year for just that year's transactions. How do you do that in QuickBooks?

A. File, Backup, Last Year B. Company, Backup, Last Year C. Edit, Preferences, Backup, Last Year D. Cannot do it

36. Memorized transactions can be

A. Invoices B. Statement Charges C. Payments D. A and B but not C

37. What is the best way to record amounts from Customers Against an Invoice?

A. Mane the Deposit in the Bank Register B. Enter a Sales Receipt C. Enter a Customer Receipt D. Enter a Receive Payments

Bookkeeping Test Three - QuickBooks