CH 1

Question 1

What information is required before they set up

a QuickBooks file

Answer 1

Company’s address, company type, tax code, and phone number

Question 2

How to start a new company data file in

QuickBooks (Easy Step Interview)

Answer 2

1) select File to New company
2) Click the express start button
3) Enter appropriate information into the windows displayed by quickbooks.

Question 3

How to keep the lists and preferences from an

old file while removing old transactions

Answer 3

1) Click write checks
2) click on clear button
3) clears check

Question 4

How do you customize home page?

Answer 4

1) select edit preferences
2) select desktop view from the list of preferences
3) select the company preferences
4) enter appropriate information in the preferences window
5) click ok

Question 5

How do you set up lists?

Answer 5

1) Click on add button to enter customers, vendors, employees, items, and bank accounts
2) activate quickbook setup window.
3) enter date before (not of the day of )listing transaction

Question 6

How do you navigate through quickbooks?

Answer 6

1) Display the home page
2) Click my shortcut
3) Click the home icon
4) Icon bar ( on the left of screen)

Question 7

How do you back up and restore files?

Answer 7

1) click on file
2) highlight back up company
3) click on create local backup

1) click on file
2) Highlight open and restore company
3) click on Restore a backup copy

Question 8

How do you add an new user

Answer 8

1) Click on company
2) highlight setup users and passwords
3) Click on set up users
4) click on add user

Question 9

How do you use single and multi user mode in quickbooks?

Answer 9

1) click file
2) highlight switch to multi user mode
( only use if more than one person needs access at the sametime)

Question 10

How to password protect QuickBooks

Answer 10

Assign an admin

1) select company: set up users and passwords: set up users from the menu
2) enter admin’s name
3) Enter the admin password
4) enter the admin’s confirmed password
5) select challenge question and enter a challenge answer

Question 11

How and why to use preferences?

Answer 11

Preferences help to make quickbooks easier that depends what the acct duties are

to use preferences

1) click on edit
2) highlight preferences

Question 12

How do you add new entries of a list?

Answer 12

1) Display the appropriate list
2) For center based lists, click the new button
or for menu based lists, click the left most button at the bottom of the list , then select new from the menu
3) enter appropriate information in the window
4) click ok

Question 13

How do you Delete entries of a list?

Answer 13

1) Display the appropriate list
2) Select the entry in the list to delete
3) For center based lists, select edit:Delete( name) from the menu
For menu based lists, click the left most button at the bottom of the list, then select Delete( name) from the menu
4) Click ok

Question 14

How do you edit entries of a list?

Answer 14

1) Display the appropriate list
2) Select the entry in the list to edit
3) For center based lists, click the edit( Name) button.
For menu based lists, click the let most button at the bottom of the list, then select edit( name) from the menu
4) Enter or change appropriate information
5) click ok

Question 15

How do you merge entries?

Answer 15

1) display the appropriate list
2) Select the netry in the list to merge
3) for teh center lists, click the edit ( name) button.
For menu based lists, click the left most button at the bottom of the list, then select edit ( name) from the menu
4) type another entry’s name as the new name
5) click ok
6) click yes in the merge window

Question 16

How QuickBooks uses items to perform the

necessary accounting entries

Answer 16

add items

1) click the items and services icon on the home page
2) click the item button
3) select new from the menu
4) select the appropriate item type
5) enter remaining information in the new item window
6) click ok

Question 17

What are different types of items and when to use each type

Answer 17

1) inventory part
( used for purchased goods, track inventory, and resell)
2) non-inventory part
( used for goods that are not tracked such as office supplies, material for a specific job that you charge back to the customer)
3) Service ( performed by subcontractor)
(use of services that are charged or purchased such as specialized labor, consulting hours, or professional fees)

Question 18

How to use an invoice

Answer 18

On the home menu
1) create invoice 
2) receive payment
3) make a deposit
(an invoice is when a customer owes you money and will pay you later)

Question 19

How do you use a sales receipt?

Answer 19

A sales receipt is a record of a full payment

receive customer payments

1) click the receive payments icon on the home page
2) click the received from drop down arrow and select the appropriate customer or job
3) enter remaining information in the receive payments window
4) click save and close

Question 20

How do you use a partial payment

Answer 20

Adjust the AMT DUE section

Question 21

How do you make deposits

Answer 21

1) Click the record deposits icon on the home page
2) Select the appropriate payment methods to view next to view payment
3) Click the line items to deposit
4) click ok
5) Enter any additional items for deposit in the make deposits window
6) Click the print button to print deposit slips and/or the deposit summary
7) Click save and close

Question 22

Who should be listed in the Customer Center

Answer 22

Your customers and jobs that were performed by the company.

Question 23

How to navigate and use the Customer Center

Answer 23

first add a customer to the customers and jobs list

1) click the customer center icon
2) the customers and jobs tab in the customer center window
3) Click the new customer and job drop down arrow and select new customer
4) enter appropriate information in the new customer window as indicated
5) click ok

second add jobs

1) click the customer center icon
2) click the customers and jobs tab in the customer center window
3) select the appropriate customer or job in the list
4) click the new customer and job drop down arrow and select add job
5) enter appropriate information in the new job window
6) click ok

Question 24

How QuickBooks uses the Undeposited Funds, Accounts Receivable, and checking accounts in
the invoicing cycle.

Answer 24

It should be recorded as a liability because it is unearned revenue.

recorded as a down payment in the memo section

then make an invoice by selecting the company for the service . Then apply credits button

click to adjust for service and credit ( down payment).

Question 25

How do you use statements

Answer 25

1) click the statements icon on the home page
2) make appropriate selections below statement options
3) Select the applicable customers below Select customers
4) click print

Question 26

How to handle bounced (NSF) checks

Answer 26

1) click the received payments incon on the home page
2) click the previous arrow to find the bad checks
3) on the main tab, click record bounced check
4) enter the fee your bank charged you
5) Enter the date of the bank fee
6) click the expense account drop down arrow and select the appropriate expense account for the bank fee
7) If you want to charge your customer a fee for bouncing the check, enter a customer fee
8) click next
9) click finish

Question 27

Who should be listed in the vendor center?

Answer 27

Companies or individuals who purchase goods or services from.

Question 28

How to navigate and use the vendor center such as add vendors

Answer 28

add vendors

1) click the vendor center icon
2) click the vendors tab in the vendor center
3) Click the New Vendor button
4) Select New Vendor
5) Enter appropriate information in the new vendor window
6) Ok

Question 29

How do enter and identify paying bills?

Answer 29

Enter Bill

1) Click the enter Bills icon on the home page
2) Click the vendor drop-down arrow and select the appropriate vendor
3) Enter remaining information in the enter bills window
4) Click Save and Close

Question 30

How do you write checks?

Answer 30

1) Click the write check icon on the home page
2) Click the pay to the order of drop down arrow and select the payee
3) For check to be printed later, click the print later box
4) enter remaining information in the write checks window
5) Click save and close

Question 31

How do you add credit cards

Answer 31

add credit

1) Click the chart of accounts icon on the home page
2) Click the Account Button
3) Select New from the menu
4) Select Credit Card as the account type
5) Click continue
6) enter remaining information in the add new account window
7) Save and close

Question 32

How do you enter credit and charges

Answer 32

enter credit card charges

1) Click the enter credit card charges icon on the home page
2) Click the credit card drop arrow and select the appropriate credit card
3) Enter remaining information in the enter credit card charges window
4) Click save and close

Question 33

How do you use debit cards?

Answer 33

The same as writing a check, but you write DEBIT in the check number line.

Question 34

How do you create purch order as a payment

Answer 34

1) the purchase orders icon on the home page
2) Click the vendor drop down arrow and select the appropriate vendor
3) Enter remaining info in teh create purchase orders window
4) enter click and save

Question 35

How do you set up sales tax?

Answer 35

sales tax preference

1) click the manage sales tax icon on the home page
2) click the sales tax preference button
3) Enter appropriate information in the preferences window
4) click OK
5) Click CLose in the manage sales tax window

Question 36

How do you collect sales tax?

Answer 36

1) click the customer center icon
2) the customers and jobs tab in the customer’s center window
3) Click to select the appropriate customer
4) click the edit customer button
5) Click the sales tax setting tab
6) Click the sales tax setting tab
7) Click the tax code drop down arrow and select the appropriate sales tax code
8) Click the tax item drop down arrow and select the appropriate sales tax item

Question 37

How do you pay sales taxes?

Answer 37

1) Click the manage sales tax icon on the home page
2) click the pay sales tax button
3) Click the individual items to select for payment
4) Enter remaining information inn the pay sales tax window
5) Click ok
6) Click close in the mange sales tax window

Question 38

How do you reconcile bank accounts

Answer 38

1) Click the reconcile icon on the home page
2) Click the account drop down arrow and select the appropriate bank account
3) Enter appropriate information in the begin reconciliation window
4) Click continue
5) Click the items that cleared the bank
6) Click the reconcile now button
7) Select the type of reconciliation report in the select reconciliation report window
8) click print

Question 39

What are the differences between the payroll services available from quickbooks?

Answer 39

1) basic pay roll
is a subscription that pays their employees directly with account file tax forms
2) Enhance payroll
features of basic payroll, plus additional features that make running payroll faster and easier.
3) Full Service payroll
Intuit company manages payroll. To start this process, you need to input the hours.

Question 40

How do you set up payroll

Answer 40

set up payroll with interview

1) select employees: Payroll setup from the menu
2) Click the continue button
3) Enter appropriate information into the windows displayed by quickbooks

Question 41

How do you set up payroll with tax deductions

Answer 41

create employee 
1) click on employee
2) click the new employee button
3) Enter appropriate information in the new employee window
4) click ok
taxes
1) look under taxes for ( name)

Question 42

How to set up on employee’s earnings and sick or vacation time

Answer 42

create paychecks
1) Click the pay employees icon on the home page. Or click Payroll center icon on the home page
2) click start scheduled payroll
3) If not using payroll schedules, click on unscheduled payroll. Then select the employees to pay in the enter Payroll information window
4) Enter and review hours in the enter payroll information window
5) Click continue
6) Review information in the review and create paychecks window
7) To make a change, click the employee’s name
8) Click ok to save changes
9) Click the create paychecks button
10) Select whether to print paychecks and print pay stubs in the confirmation
and next steps window
11) Click close

Question 43

How do you track sick or vacation time?

Answer 43

review a payroll summary

1) select reports: employees and payroll: payroll summary
2) Click the customize report button
3) Click the boxes next to hours and rate below add subcolumns for
4) click ok

Question 44

How do you set up payroll liabilities?

Answer 44

1) click the pay liabilities on the home page
2) In the pay taxes and other liabilities section of the window liability to pay in the list
3) Click the view/pay button
4) Enter expenses and/or penalties in the liability payment
5) click save and close
6) Close in the payment summary window

Question 45

How to prepare payroll forms( 941and w2) in quickbooks?

Answer 45

1) click the process payroll forms icon on the home page
2) Select quarterly form 941/schedule b in the select payroll form in window
3) click file form
4) enter the appropriate filing period below select filing period
5) click ok
6) Answer all questions in teh interview for your form 941/ schedule b and click next until finished
7) Click the check for errors button
8) After any errors are corrected, click print forms.
9) Make appropriate selections in the printing window
10) Click print
11) Click save and close

Question 46

How do you use track time and use it for invoicing customers

Answer 46

1) click the invoices icon on the home page
2) Click invoice for time and expenses from the list
3) Click the appropriate customer or job from the list
4) Check the box next to let me select specific billables for this customer: Job.
5) Click create invoice
6) Select the time to bill in the choose billable time for this customer: job
7) click ok
8) Enter remaining information in the create invoices window
9) Save and Close

Question 47

Why and how to use the report center

Answer 47

helps to locate and run reports that show the information that you need

Question 48

How do you customize reports

Answer 48

1) click on report

2) click on customize report button

Question 49

The basic question that each report answers

Answer 49

What checks have been written, including the details of each one

Question 50

How do you process multiple reports

Answer 50

add a memorized report group

1) select reports: Memorized reports: memorized report list from the menu
2) Click the memorized report button
3) Select new group from the menu
4) enter the name in the new memorized report group window
5) click ok

Display memorized report group

1) Select reports: process multiple reports from the menu
2) Select the reports to display/print in the process multiple reports window
3) Change the from and to dates of the reports as appropriate
4) Click display or print

Question 51

How do you send reports to excel?

Answer 51

1) run the appropriate report
2) Click the excel button
3) Select whether to create a new worksheet or update and existing worksheet from the menu
4) click the advanced button to modify the transfer options
5) Click the export button
6) Quickbooks automatically runs Excel and displays the report

Question 52

How do you run memorize report?

Answer 52

1) run memorize a report
2) make appropriate changes to the report
3) Click the memorize button
4) enter the report name in the memorize report window
5) click ok

Question 53

What the basic function statements are and have a basic understanding of what they mean

Answer 53

They follow balance sheets of accounts. In order to record accounts that have assets, liabilities, and equity. it also identifies income and loss.

Question 54

The difference between cash and accrual reports

Answer 54

Accural means carrying over to next period

Cash is the exchange of money for a product or completed service

Question 55

How and why to set a closing date

Answer 55

To restrict user from changing accounting periods

set a closing date

1) Select company: set closing date from the menu
2) click set date/password
3) enter a closing date
4) Enter the password as the closing date password
5) Enter the password as confirm password

Question 56

How to enter a journal entry if asked to do by an accountant

Answer 56

Make general journal entry

1) select company make general journal entries from the menu
2) enter the information in the make general journal entries window
3) Click save and close

Question 57

How do you memorize transactions

Answer 57

to save time

1) enter the transaction to memorize
2) select edit: memorize ( form name) from the menu
3) Click the automate transaction option
4) enter remaining information in the memorize transaction
5) click ok

Question 58

how do you create custom fields

Answer 58

open a form to customize

1) click the formatting tab
2) click customize data layout
3) Click customize data layout
4) select whether to include fields on screen by clicking the box below screen
5) Repeat step 4) for each tab in the additional customization window
6) Click the layout designer button to change the appearance of the printed form
7) Make changes to the layout as appropriate
8) Click ok in the layout designer window