QuickBooks Certified User (QBCU) Practice Exam

These questions are part of the practice quiz. Start practicing

• Which option best describes how you enable time tracking in QuickBooks?
• How can you customize a report to display data grouped by Product/Service and by Month?
• Which option is NOT listed as an ability of the Customer Center?
• Which item type tracks quantity and affects both balance sheet and P&L?
• Where do you pay payroll liabilities in QuickBooks?
• How do you enter a Journal Entry?
• Which transaction records a sale with payment received at the time of the transaction (no accounts receivable)?
• Which item type is used to show a payment on a transaction?
• Which item type is used for services your company provides to customers?
• What is the purpose of a 1099 in QuickBooks?
• When editing a chart of accounts, what is the impact of changing an account type?
• In QuickBooks Online, which item type is used to track revenue and cost?
• Which list should include things your company offers?
• What is the purpose of reconciling a bank account?
• Which setting allows configuring the fiscal year start month and accounting method?
• To collect sales tax in QuickBooks, where do you enter it?
• Which financial statement shows the business's revenues and expenses for a period?
• How do you set up reminders for overdue customer invoices?
• Which command opens the QuickBooks wizard to create a new company file?
• What is the difference between 'Inventory' and 'Non-Inventory' items?
• To analyze profitability by product/service across a period, which report is most appropriate?
• In the invoicing workflow, what is the purpose of the Record Deposits step?
• How do you apply a customer payment to an existing invoice in QuickBooks Online?
• Which list should include the names of people you pay to work for your company exclusively?
• Which QuickBooks Online shortcut quickly adds a new transaction from anywhere in QuickBooks?
• What are the five steps to set up sales tax in QuickBooks?
• After completing the payroll setup interview, which option is used to add a new employee?
• What is the purpose of a product/service item in QuickBooks?
• Where do you define a customer’s payment terms in QuickBooks Online?
• Which accounts are impacted by an Inventory Adjustment when correcting stock quantities?
• What is the purpose of locking a period in QuickBooks Online after year-end adjustments?
• Which QuickBooks transaction reduces cash when issued to pay a liability?
• Which actions can you perform in the Vendor Center?
• How do you correct a misposted transaction that affected multiple accounts?
• Which financial item does not point to any account on the chart of accounts?
• Which steps are used to pay sales tax in QuickBooks?
• What information is required to create an invoice for a customer in QuickBooks Online?
• Which action records a reduction of a liability toward a vendor?
• In QuickBooks Online, which steps correctly enable Sales Tax and configure rates to products and services?
• If a vendor bill includes inventory, where do you record the bill?
• What is a key function of items in QuickBooks?
• What does the closing date do in QuickBooks?
• What is a credit memo used for in QuickBooks?
• Which path is used to access the Accounts Receivable aging report in QuickBooks Online?
• Which field defines when payment is due on an invoice?
• How do you set up user roles and permissions to control access in QuickBooks Online?
• How do you process multiple memorized reports for printing?
• When would you use an Inventory Adjustment and which accounts are impacted in QuickBooks Online?
• How do you merge two entries in a list in QuickBooks?
• In QuickBooks Online, when is it appropriate to map sales tax (if applicable)?
• How do you fix a bank reconciliation discrepancy?
• How do you export a report to Excel?
• How would you create a new memorized reports group?
• What is the purpose of a memorized report in QuickBooks Online?
• Which of the following is given as an example of a QuickBooks preference?
• In a loan payment, which account is debited to reduce the loan balance (principal portion)?
• What does a 'matched' transaction indicate in reconciliations?
• Which financial item allows you to give a discount?
• Which path do you use to run an aging report for accounts receivable?
• Where would you enable multi-currency for a company file?
• How do you pay a bill in QuickBooks Online?
• How do you mark billable expenses and bill them to a client on an invoice?
• How do you set up bank rules to automatically categorize downloaded bank transactions?
• When using Inventory items, how do you ensure COGS matches purchases?
• Which method is used to record a credit card purchase in QuickBooks?
• How many payroll service versions are available to QuickBooks Desktop users?
• In the invoicing cycle, if you have received a payment but haven't deposited it yet, where is it reflected?
• Which item type allows you to discount all items in a group at the same time?
• In QuickBooks Online, what is the difference between an Invoice and a Sales Receipt, and when would you use each?
• Which of the following is NOT a method to update QuickBooks?
• What is a Bill in QuickBooks?
• What is the correct sequence to memorize a transaction in QuickBooks?
• How do you create and apply a Vendor Credit to reduce the amount due?
• How do you handle a one-time service without a standard item, and how can you capture revenue accurately?
• What is a bill payment discount in QuickBooks?
• Which statement best describes when Undeposited Funds should be used?
• How should you resolve a bank transaction that was recorded twice in QuickBooks Online?
• What type of item is used to track employer taxes in payroll?
• Which financial item would you use to show shipping and handling on an invoice?
• Which of the following describes how to customize the QuickBooks home page?
• What is a valid way to record a loan from the owner in QuickBooks Online?
• When would you export reports to Excel?
• What is the difference between Undeposited Funds and a Bank Deposit in QuickBooks Online, and when would you use them?
• What is a Memorized Report?
• What is the purpose of batch statements?
• How would you adjust tax rates when a jurisdiction changes its sales tax rate?
• Where do you access the Chart of Accounts in QuickBooks Online?
• When applying revenue for a one-off service with no standard item, which item type is recommended to map to the correct income account?
• What is a Credit Memo in QuickBooks Online and how does it affect a customer balance?
• Which menu path navigates to the user setup screen in QuickBooks?
• How do you record a loan from the owner or a bank loan in QuickBooks Online?
• Which step is essential when mapping lists and accounts during QuickBooks Desktop to Online migration?
• How do you apply a customer payment to an open invoice?
• What is a best practice when setting up a new bank feed connection in QuickBooks Online?
• Which is the correct sequence for the inventory workflow from purchase order to payment?
• Which key do you press to see the release number in QuickBooks?
• Which keyboard shortcut opens the dialog to create a new customer or job in QuickBooks?
• Which QuickBooks module is required to run payroll calculations and tax filings?
• In QuickBooks Online, what steps are used to reconcile an account?
• What is the recommended method to review expenses by vendor in QuickBooks?
• How do you enable Class Tracking and use classes to segment reports by department or location?
• In QuickBooks payroll, how do after-tax deductions affect net pay?
• How do you run Accounts Receivable aging and Accounts Payable aging reports?
• Which item type would you use for items you buy, sell, and track how many you have on hand?
• Who should be listed in the Customer Center?
• To record a customer credit in QuickBooks, which sequence of actions is correct?
• Which report shows the tax liability by tax agency?
• Which of the following is the correct key to view the release number in QuickBooks?
• How do you record a customer refund and when would you use a Refund Receipt versus a Credit Memo?
• Which of the following describes tasks you can perform in the Customer Center?
• What does it mean if a transaction is cleared in reconciliation?
• How do you record an expense paid with a company credit card and ensure it posts to the correct liability and expense accounts?
• If a reconciliation difference occurs, how should you handle it?
• What are the two primary workflows for making purchases in QuickBooks?
• Where would you access the accounts receivable aging report in QuickBooks?
• Which security feature provides an extra layer of verification when signing into QuickBooks Online?
• Which standard report shows profitability by product/service?
• How do you record a partial payment on an invoice and leave a remaining balance?
• How does inventory tracking affect financial statements?
• Which feature can automatically pop up to help you add a new entry while filling out a form?
• How do you merge two customer records if there are duplicates?
• How do you record depreciation or asset tracking for fixed assets in QuickBooks Online?
• Which category on the QuickBooks home page contains functions like Create Invoices and Statements?
• If revenue and expense totals do not reconcile at year-end, what is an appropriate first step?
• How do you view or change sick/vacation hours used or given?
• What is the correct first step to start the Payroll Setup in QuickBooks?
• How would you record a loan repayment that includes both principal and interest, and how does it affect accounts?
• What information is required to create a new customer in QuickBooks Online?
• How do you memorize a report?
• How do you update and refresh Excel reports from QuickBooks?
• If you pay a vendor bill with a company credit card, which liability account should be updated?
• How many access levels are defined in QuickBooks for user permissions?
• What action creates a 'refund' for a customer in QuickBooks?
• Which statement best describes the accounts receivable aging report content?
• How do you import Customers, Vendors, or Items from a CSV file into QuickBooks Online?
• What is a correct way to fulfill a recorded customer credit?
• Who should be listed in the Vendor Center?
• To invoice billable time to a customer, what must you select?
• Which statement best describes a bill's impact on accounts payable?
• What should the Items List include?
• What is the purpose of the 'Cost of Goods Sold' account in QuickBooks?
• Which keyboard shortcut deletes a selected entry from a list in QuickBooks?
• How do you track expenses by vendor?
• Which statement about payroll forms is true for QuickBooks Enhanced Payroll?
• How do you record a vendor credit?
• How would you restrict payroll data access for a manager in QuickBooks Online (if payroll is enabled)?
• What is the workflow when using sales receipts in QuickBooks?
• Which area provides a real-time overview of income, expenses, and bank balances on login?
• What keyboard shortcut opens the edit window for a selected list entry in QuickBooks?
• Which of the following is NOT an option when creating a new company file in QuickBooks?
• Which option describes a legitimate reason to create a customer statement?
• Which steps are involved when recording a transfer between two bank accounts in QuickBooks Online?
• How do you use the Audit Log to review changes by different users in QuickBooks Online?
• What is the recommended way to add custom fields to customer records to collect additional data?
• Which statement about a correcting entry in QuickBooks Online is true?
• What is the first step to begin payroll forms processing in QuickBooks Enhanced Payroll?
• In reconciliation, what does 'unreconciled' indicate?
• How do you access the Report Center in QuickBooks?
• How do you set the closing date?
• In the Display tab of Customize Report, what can you do?
• What are the two basic financial statements?
• How do you create a Product/Service item and map it to an income account, and what is the difference between Service and Inventory items?
• How can you customize the QuickBooks Online home dashboard to access frequent tasks quickly?
• Where do you set an employee's earnings and sick/vacation rates?
• What impact does selling inventory have on the COGS?
• Which icon should you click to run payroll in QuickBooks?
• What type should a cash account be set to in the Chart of Accounts in QuickBooks?
• What feature allows you to quickly access frequently used reports or tasks from the dashboard?
• Which QuickBooks feature helps import bank transactions automatically?
• How can you verify that discounts and refunds are reflected correctly in sales reports?
• In QuickBooks Online, which action completes the bank reconciliation process?
• Which feature would you use to access a previously saved custom report without rebuilding it each time?
• How do you export and share QuickBooks Online data with a third-party system using CSV or integration tools?
• When recording a customer refund, which document should you use if the refund is paid in cash?
• Which item type refers to items you buy, assemble, and then sell?
• Which items are recommended to export for migration to another system from QuickBooks Online?
• Which statement best describes what you can add with the +New button in QuickBooks Online?
• Which feature helps remove duplicate customer records?
• Where do you configure per-customer invoice reminders for overdue invoices in QuickBooks Online?
• What is the purpose of the Chart of Accounts and how should you categorize a monthly rent expense?
• What is the main benefit of enabling two-factor authentication in QuickBooks Online?
• Which item type would you use for items you buy and sell but don't track how many you have on hand?
• What action sets payment terms for a customer in QuickBooks?
• Where is the Customize Report button located in a report window?
• Which statement best describes bank feeds?
• How do you create a recurring transaction (invoice or estimate) for a monthly client?
• Which area controls the first month of fiscal year and accounting method in QuickBooks Online?
• What do cash and accrual reports represent?
• Which financial item is used to apply sales tax to line items?
• To password protect QuickBooks, what is the first action you must perform?
• Which statement correctly contrasts a Memorized Report with a Recurring Transaction?
• What information does the Audit Log provide?
• During the payroll setup process, which tab is used to set deductions, taxes, and sick/vacation time?
• What does mapping 1099 boxes in 1099 settings accomplish?
• Which account type is used to track a credit card balance?
• Why would you set up payroll schedules?
• How do you export data from QuickBooks Online for migration to another system?
• How can you customize a report's date range and filters in QuickBooks?
• How do you record a vendor credit in QuickBooks?
• What is the difference between a product/service item and a non-inventory item?
• Which action ensures a discount is reflected in the invoice total when using a discount item?
• To switch to multi-user mode in QuickBooks, which action is required?
• After migrating data, which step helps ensure data integrity?
• How do you identify and fix duplicate transactions causing discrepancies in reports?
• Which button do you click to change a field in a customized form?
• What happens to the invoice when you record a bounced check in QuickBooks?
• What is the process to record a Vendor Bill and pay it later?
• What is the workflow for invoicing in QuickBooks?
• What is the difference between a Bill and a Check?
• Which home-page category contains tasks such as Create Invoices and Receive Payments?
• To modify the payment terms for an existing customer, you should:
• Which of the following describes the correct steps to condense data in QuickBooks?
• When performing bank reconciliation in QuickBooks, how should you handle multiple bank accounts?
• Which edition is designed for large businesses with advanced features?
• What steps are recommended to prepare data for year-end adjustments and closing in QuickBooks Online?
• Which tabs are available in the Customize Report window?
• How do you diagnose and resolve a broken bank feed connection in QuickBooks Online?
• What is the purpose of mapping sales tax in QuickBooks Online (if applicable)?
• Which approach is used to keep depreciation in QuickBooks Online up to date, if a depreciation workflow is available?
• How do you perform credit card reconciliations and ensure your credit card balance matches the card issuer?
• What is required to designate a vendor as a 1099 vendor in QuickBooks Online?
• Why is reviewing AR/AP aging during year-end important?
• How do you add a new Customer and set their payment terms in QuickBooks Online?
• When applying a Vendor Credit to a bill, which accounts are affected?
• Which edition is a Mac-specific variant of QuickBooks?
• You are setting up items and customers and selling to a customer in a different tax jurisdiction. How should you handle tax?
• What tasks does the Sales Tax feature in QuickBooks Online support?
• Which action allows you to reuse a customized set of filters and layout for future reports?
• What steps should you take when migrating data from QuickBooks Desktop to QuickBooks Online?
• What is the difference between an invoice and a sales receipt?
• Which item type would you use for a physical product you keep in stock?
• What is a Memorized Report and how do you create one?
• Which statement about a Sales Receipt is true?
• What is memorizing transactions in QuickBooks used for?
• How is cost of goods sold tracked in QuickBooks Online?
• Which of the following is NOT one of the three time-tracking methods in QuickBooks?
• What is the method to export a QuickBooks Online report for sharing?