QuickBooks Online Certification in Australia

21. Projects in the Work area can track ongoing jobs and tasks for your clients and practice. How can you turn project tracking on?

AGear icon\Company settings\Advanced\Project\Toggle Projects to ON

BGear icon\Company settings\Advanced\Project\Toggle Projects to OFF

CCreate icon\Company settings\Advanced\Toggle Project tracking to ON

DIn the Company Settings menu, select the option for automated projects

22. What is the purpose of the management reports tab?

AProvides an easy way to access basic, pre-set reports

BProvides access to a number of pre-designed financial reports, special purpose financial reports and stored BAS workpapers

CAllows for professionally designed reports to be created and sent to clients

DBoth B & C

23. Where do you set a default date range for reporting your client's data?

ACreate button\ Other\Report Options\Customise the data range

BGear icon\Tools\Report Options\Customise the data range

CAccountant Toolbox\Tools\Report Options\Report & Tool Default and Customise the data range

DNone of the above

24. Reports can be customised in what way?

ARows/Columns settings

BFilter settings

CHeader/Footer settings

DAccounting Method

EAll of the Above

25. For the Cash Flow planner to work effectively you will need to have a Standard or Direct bank feed connected without multi currency turned on.

ATrue

BFalse

26. What two steps would you need to implement to effectively prepare a Taxable Payments Annual Report (TPAR) report?

AEnable TPAR in the settings and tick the "Include this Customer" in my annual TPAR on the supplier details card

BEnable TPAR in the settings and tick the "Include this Supplier" in my annual TPAR on the supplier details card

CEnable reporting in the settings and tick the "Include this Supplier" in my annual TPAR on the supplier details card

DNone of the above

27. Question 27 of 37

The Audit log feature can be enabled and disabled in the Company Settings area of QuickBooks Online.

ATrue

BFalse

28. What is the purpose of the Shortcuts area in each tab in Books review?

AIt provides a shortcut link to your reconciliation screen

BIt allows you to add shortcuts to tasks, reports and QBO locations

CIt allows you to add in additional company settings

DNone of the above

29. Where would you go to reconcile accounts in QuickBooks Online?

ABooks Review\Account Reconciliation tab

BAccountant Toolbox\Quick Links\Reconcile

CGear Icon\Tools\Reconcile

DAll of the above

30. Why is setting up the GST area for business activity statement (BAS) lodgement in QuickBooks Online so important?

AIt provides an overall view of a business' GST and PAYG withholding position at a given point in time

BEnsures compliance with banking regulations.

CEnsures complete compliance with all business laws in Australia

DEnsures compliance with international tax laws and trade agreements