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Part of the Books review process is reviewing transactions and recognizing any possible issues. Which are 2 open issues that you can view from the

  1. Part of the Books review process is reviewing transactions and recognizing any possible issues. Which are 2 open issues that you can view from the Transaction review tab?
  • Undeposited funds
  • Reclassified transactions
  • Transactions without dates
  • Transactions posted to the wrong period
  • Unapplied payments

2. When are 2 times you might use the setup screen in the books review feature?

  • When re-indexing a quickbooks data file
  • when recording beginning balances in a new quickbooks online company
  • When changing chart of account names
  • When making adjustments to balance sheet account balances during the clean up process
  • When enabling payments in a new Quickbooks online company

3. What are 3 of the stages in book review?

  • Final review
  • Account reconciliation
  • Team review
  • Transaction review
  • Bank reconciliation
  • Categorization review
  • Not started

4. Which 2 forms related to employees and contractors do you need to file at year end?

  • Form I-9
  • Form 1099
  • Form W-3
  • Form W-2
  • Form 1029

5. What are 2 limitations of the Reclassify transactions tool?

  • You cant change the location when reclassifying expense transactions
  • You cant change the class when reclassifying expense transactions
  • You cant change the account for inventory adjustments
  • You cant change the class on deposit transactions
  • You cant change the payment bank account when reclassifying expense transactions

6. As an accountant user, where can you access and begin reclassifying transactions?

  • Accountant Tools > Reclassify transactions
  • My accountant > Reclassify transactions
  • Account and Settings > Reclassify transactions
  • +New > Reclassify transactions
  • Accounting > Reclassify transactions

7. If you set a closing date with a password, can a clients office manager with standard access make changes to transactions? If so, how would you track any changes they make in the closed period?

  • Yes, they can make changes to transactions, even without the password. Changes are flagged in the Exceptions to Closing Date report
  • No. Even if this user knows the password, they cant change transactions on or before the closing date. Only the accountant can track changes
  • Yes, but only if they know the password. Theres no way to track changes
  • Yes, but only if they know the password. Changes are flagged in the Exceptions to closing date report

8. Why might an Accountant user not see the Exceptions to Closing Date report in a quickbooks online company?

  • The accountant user does not have the required permissions to view the report
  • The Exceptions to Closing Date report is not available in a simple start subscription
  • The Audit Log is not enabled
  • A closing date has not been set in the company

9. How does Teresa update the lead for the client from the clients menu in quickbooks online accountant?

  • Select the client from the list and then choose Edit lead from the actions column
  • Select the filter option and then select Edit leads
  • Select the client from the list and then choose Edit lead from the down arrow next to the Edit client button
  • Select the Gear icon below the Add client button and check the box next to Edit leads

10. Josie client is rapidly growing and needs to upgrade their current subscription level of QuickBooks Online. If Josie pays for the subscription, what steps will she take from her QuickBooks Online Accountant to upgrade her client?

  • Gear icon > Company settings > Advanced > Upgrade
  • Gear icon > Subscription and billing > Accountant-billed subscriptions > Subscription actions > Upgrade
  • Gear icon > Company settings > Payments > Upgrade
  • Gear icon > Subscription and billing >Client-billed subscriptions > Subscriptions actions > Upgrade

11. Which statement is true regarding roles in QuickBooks Online Accountant?

  • Admin role users can change their own role
  • Firm users can be assigned specific clients regardless of their firm role
  • Firm users can be assigned more than one role
  • All roles can be customized to add or remove access to some areas

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

  • Duplicate a QuickStart template
  • Create a template from scratch
  • Add a template from QuickBooks Labs
  • Import a template
  • Download projects from the shared projects tab

13. Which of these actions can clients carry out in the shared documents tab?

  • Move a file
  • Add a note
  • Delete a file
  • Create folders

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