QuickBooks Advanced Certification

1. Setting up GST:

ACreates a BAS Liabilities and ATO Clearing Account in your COA

BAllows you to Run BAS Reports

CAllows you to Lodge reports to the ATO

DAll of the above

2. To change tax rates, go to GST > Settings and then:

AEdit Rates

BTax Settings

CReports

DConnect the ATO

3. To view reports for BAS, go to the GST tab, and then select the:

ARun reports button

BExpenses tab on the sidebar

CSettings

DPayment Tab

4. An important report to run prior to lodging the BAS is the:

AGST Exception Detail report

BView Amendment Details report

CView BAS Summary

DAll of the above

5. If you identified some problems with the BAS, this may be due to

AIncorrect coding of transactions

BMissing transactions

CA and B

DNone of the above

6. You are logged into your client's QuickBooks Online company through QuickBooks Online Accountant. After saving and closing a transaction in the company, you realise that you made an error. What is the best way to access the recent transaction list to reopen and fix the transaction?

AReports > All Reports > Recent transactions report

BClick in the search box and choose the recent transaction from the drop-down list

CClick on the recent transactions button next to the quick create button in the centre of the top toolbar

DPress CTRL+F to bring up a search box and enter the dollar amount of the transaction to look it up and edit it

ETransactions > Chart of Accounts and open the register for the account that you posted the transaction to, then open and edit the transaction

7. Once you've reviewed the BAS, it's time to lodge it with the ATO. The first step after selecting the Get Started button is to:

ASelect the lodgement period for the BAS

BReview GST to be collected

CReview PAYG Withholding

DEnter the income tax instalment amount

8. With online banking, you are only able to use an exported file to upload transactions from your bank.

ATrue

BFalse

9. After you have lodged a BAS, where will changes made to a transaction in a previously lodged BAS appear?

AGST Reconciliation Report

BGeneral ledger detail report

CIt will be added to your next BAS reporting period and you can also see it in the BAS Exception (Amendment) report

DYou will see the changes in the GST Detail report.

10. Locations can be used to further categorise transactions. Which statement is not true about Locations?

ALocations can be organised with sub-locations

BThere are 5 levels of sub-locations

CLocations can be set up with separate settings

DLocations can be assigned to each row of a transaction