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  • Review Answers: Your Answer

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    pink burger
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    The document contains a review of answers to 12 questions about features and functions in QuickBooks Online Accountant. It asks the test-taker to review their answers before submitting. The answers address topics like the Wrap-up tab, Opening Balance Adjustments, stages of Books review, recording mileage expenses, fields in the Reclassify Transactions screen, setting a closing date password, updating client leads, effects of downgrading a subscription, and user permission types.

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    The document contains a review of answers to 12 questions about features and functions in QuickBooks Online Accountant. It asks the test-taker to review their answers before submitting. The answers address topics like the Wrap-up tab, Opening Balance Adjustments, stages of Books review, recording mileage expenses, fields in the Reclassify Transactions screen, setting a closing date password, updating client leads, effects of downgrading a subscription, and user permission types.

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    © All Rights Reserved
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    5K views3 pages

    Review Answers: Your Answer

    Uploaded by

    pink burger
    The document contains a review of answers to 12 questions about features and functions in QuickBooks Online Accountant. It asks the test-taker to review their answers before submitting. The answers address topics like the Wrap-up tab, Opening Balance Adjustments, stages of Books review, recording mileage expenses, fields in the Reclassify Transactions screen, setting a closing date password, updating client leads, effects of downgrading a subscription, and user permission types.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    of 3

    Review Answers

    Take a minute to review your answers before you turn in your work.
    Once you submit this section, you won’t be able to change your answers.

     Q1
     What 4 things can be done in the Wrap-up tab of Books review in QuickBooks Online
    Accountant?

    Edit answer

    Your answer:
    Close the books
    Create an additional to-do checklist
    Prepare reports
    Send report packages

     Q2
     Which 2 statements are true about the Opening Balance Adjustments area of the Setup
    tab in Books review of QuickBooks Online Accountant?

    Edit answer

    Your answer:
    It can be used to enter beginning balances in a new company
    It can be used to verify that beginning balances from a prior period haven’t changed since the
    last time the tool was used

     Q3
     What are 3 of the stages in Books review?

    Edit answer

    Your answer:
    Transaction review
    Account reconciliation
    Final review

     Q4
     How can you record the mileage expense for a company at year-end in QuickBooks
    Online?

    Edit answer

    Your answer:
    Create a journal entry
     Q5
     What 3 fields can be found in the Reclassify Transactions screen?

    Edit answer

    Your answer:
    Account type
    Date range
    Transaction type

     Q6
     As an accountant user, where can you access and begin reclassifying transactions?

    Edit answer

    Your answer:
    Accountant Tools > Reclassify transactions

     Q7
     If you set a closing date with a password, can a client’s office manager with standard
    access make changes to transactions? If so, how would you track any changes they make
    in the closed period?

    Edit answer

    Your answer:
    Yes, but only if they know the password. Changes are flagged in the Exceptions to Closing Date
    report

     Q8
     What’s the reason a client wouldn’t see the Exceptions to Closing Date report in the
    Reports center?

    Edit answer

    Your answer:
    No closing date has been set

     Q9
     How does Teresa update the lead for the client from the Clients menu in QuickBooks
    Online Accountant?

    Edit answer

    Your answer:
    Select the Filter option and then select Edit leads
     Q10
     When downgrading a client’s subscription, what will be affected as a result of the
    downgrade?

    Edit answer

    Your answer:
    All discounts will be removed

     Q11
     What are the 3 types of user permissions you can choose from in QuickBooks Online
    Accountant when adding new team members to your firm?

    Edit answer

    Your answer:
    Basic access
    Custom access
    Full access

     Q12
     In which 2 ways can you create a customized template for a project in the Work menu in
    QuickBooks Online Accountant?

    Edit answer

    Your answer:
    Duplicate a QuickStart template
    Create a template from scratch

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