Intuit bookkeeping Study guides, Class notes & Summaries

QuickBooks Practice Test 100 Questions with Verified Answers During the Advanced Setup, you can turn on and off which features in the EasyStep Interview? a. Sales taxes b. Inventory c. Progress Invoicing d. All of the above - CORRECT ANSWER ALL of the above During the Advanced Setup, you can set up a password for which of the following users during the EasyStep Interview? a. Administrator b. External Accountant c. You cannot setup passwords during the EasyStep interview d. Al...

Client Needs Assessment Process - Answer Who, What, When, and How Who? - Answer Get to know who your client is, what they stand for, what they're aiming for and where they're coming from What? - Answer Every business, large or small, has a variety of parts. You need to find our what they are in order to best discuss QBO functionality and benefits with them, When? - Answer How often do they run reports? What are their internal and external deadlines? All of your clients will have compl...

The Accounting Principle - ANSWER-You can't mix business and personal assets or expenses. Accounting Equation - ANSWER-Assets = Liabilities + Owner's Equity or Assets - Liabilities = Owner's Equity Expanded Accounting Equation - ANSWER-Assets = Liabilities + Equity + Revenue - Expenses - Dividends The Five Account Types - ANSWER-Assets, Liabilities, Equity, Revenue, Expenses Normal balance of the five account types - ANSWER-Assets- Normal Dr balance Expenses- Normal Dr balance...

Bookkeepers typically... -ANSWER- Record financial transactions, reconcile bank accounts, manage accounts receivable, manage accounts payable, work with tax preparers and assist with tax compliance, and generate financial statements. As a bookkeeper what would Honesty mean? -ANSWER- Reporting financial data accordingly and timely, owning up to and trying ti fix any mistakes, and being open and transparent with clients about their business. As a bookkeeper what would Objectivity mean? -ANSW...

Intuit Bookkeeping Professional Certificate questions and answers

QuickBooks Practice Test 100 Questions with Verified Answers Which of the following reports answers the question "What transactions make up the current balance I owe each Vendor?" - CORRECT ANSWER Vendor Balance Detail - for each vendor, QB lists the transactions that contribute or make up what you owe During the Advanced/Detailed Setup, you can turn on and off which features in the EasyStep Interview? - CORRECT ANSWER All of the above: Sales taxes; Inventory; Progress Invoicing Duri...

QuickBooks Certification Practice 100 Questions with Verified Answers When setting up a company, what should you do when you reach the Trial Balance/Opening Balances page? - CORRECT ANSWER There is no page or option called Trial Balance/Opening Balances. You can use the Opening Balance Field when you add Vendors (A/P) and Customers (A/R) to enter these balances. Which of the following CANNOT be entered during the setup of a new company (Express Start or Advanced/Detailed Setup) file? - COR...

QuickBooks Practice Test 100 Questions with Verified Answers During the Advanced Setup, you can turn on and off which features in the EasyStep Interview? a. Sales taxes b. Inventory c. Progress Invoicing d. All of the above - CORRECT ANSWER ALL of the above During the Advanced Setup, you can set up a password for which of the following users during the EasyStep Interview? a. Administrator b. External Accountant c. You cannot setup passwords during the EasyStep interview d. Al...

Intuit Academy Bookkeeping Professional Certificate Liabilities and Equity questions and answers.