This quiz is 50 questions long and must be completed in one setting. Progress will not save until the final question has been submitted. Please allow for approximately 60 minutes so you can complete the quiz in its entirety.

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1. What is "Undeposited funds"? *

2. What is a Sub-Account and what is it used for? *

3. What are some of the different types of items ("Products and Services")? *

4. Where or how are items used in QuickBooks? *

5. What would happen if you try to delete an item that was sold a couple of years ago, but has not been used in a while? *

6. What does Accounts Receivable mean? *

7. What is the best function to enter inventory being purchased? *

8. Which Reports in QuickBooks shows the activities of the company such as sales and expenses? *

9. What does Bank Reconciliation mean? *

10. When viewing a summary style financial report, such as a Profit and Loss Standard, what happens when you click on the amount shown next to any account? *

11. When viewing a detail level report, such as Open Invoices Report, what happens when you click on the amount shown on any particular transaction? *

12. What is the difference between reconciling a Bank Account and a Credit Card Account? *

13. When analyzing Financial Reports such as Balance Sheet and Profit & Loss, what is the best way to spot potential bookkeeping or classification errors? *

14. What does it mean when you have a balance in Undeposited Funds? *

15. What is the difference between a Customer:Sub-customer and a Project? *

16. When should you not use the "Check" Function in QuickBooks Online? *

17. What is the best way to record a pre-payment for inventory to a vendor before the inventory has been received or the Bill created? *

18. Which forms can be customized, using the "Form Styles" function, in QuickBooks Online? *

19. What does Recurring Transactions mean? *

20. How do you enter a Sales Order in QuickBooks Online? *

21. How do "Bill -> Pay Bill" feature differ from "check/expense" feature? *

22. Which transactions in QuickBooks are considered Non-posting? *

23. How do you record a payment from a client that is paying multiple invoices? *

24. What is the relationship between an account and item? *

25. How do you determine if a check has been reconciled in QuickBooks? *

26. How do you export QuickBooks Online reports into excel? *

27. What is the purpose of exporting reports to excel? *

28. If you want to modify the account or name filters within a specific report you have open, where do you click? *

29. What is the difference between Accrual Basis of accounting vs. Cash Basis? *

30. What is the keyboard shortcut for the date to jump to Today’s Date? *

31. Which way can we record a customer pre-payment before creating the invoice (that will be created in the future when the sale is completed)? *

32. What account(s) does an Inventory item post to? *

33. What are the most used reports in QuickBooks Online to understand the financial health of the business? *

34. What does "Billable" Time and Expenses mean? *

35. What does Accounts Payable mean? *

36. What do you do with transactions left uncleared after completing the reconciliation? *

37. What is the Undeposited Funds account used for? *

38. With QuickBooks Online Payroll enabled and paying payroll taxes, you must never: *

39. What is a "Petty Cash" or "Cash on Hand"? (choose the best answer) HINT: IT IS NOT AN EXPENSE ACCOUNT *

40. What is the best way to record a single vendor payment to a vendor to pay multiple bills? *

41. What is the reason to enter customers (and have a customer database) on the Customers Center? *

42. Which Reports in QuickBooks shows the value of the company such as assets and liabilities? *

43. How could you write-off an invoice that was partially paid, but still has a balance? The books are on Accrual Basis *

44. What are the benefits of connecting your bank to directly download transactions (Bank Feeds) into QuickBooks? *

45. What is the Chart of Accounts? *

46. In the vendor center if you notice several names (with misspelled or variations of the name) related to same vendor, How you do to clean up the Vendors list? *

47. What is the difference between Classes and Locations? *

48. What is true about the QuickBooks Online Advanced version? *

49. Why do most people choose QuickBooks Online over its "Desktop" counterpart? *

50. What lists could be imported from excel or CSV spreadsheets into QuickBooks Online *