Which 3 of the statements below are correct regarding

This preview shows page 12 - 15 out of 20 pages.

Which 3 of the statements below are correct regarding reconciling a bank account in QuickBooks Online?
The Reconciliation screen shows the summary calculation at the top (Beginning balance minus payments plus deposit) To see the Reconciliation report, select View report after you’ve successfully reconciled the account Edit answer Q4 Your client wants to create a bank rule that has priority over other bank rules and automatically adds a transaction into the QuickBooks Online register. Is this possible? Edit answer
Q5 What 2 reasons from the options shown here might mean a transaction needs to be excluded in bank feeds? Edit answer
Submit section
SECTION 4 - Review Answers - PASSED Submit section Q1 As with all business owners, you want to have a clear snapshot of how you are doing financially. Reports can provide a valuable insight into which 3 of the following?
Edit answer Q2 Which report would you run to see a list of each customer with an open balance and columns for the age of open balances? Your answer: A/R Aging Summary Edit answer Q3
Your client wants to understand the difference between cash-based and accrual- based reporting. Which is the best definition of cash-based reporting? Edit answer
Q4
Which QuickBooks subscription level or levels offer Sales reports that can be run to show location or class? Your answer: QuickBooks Online Plus Edit answer Q5 Which 4 of these statements about the QuickBooks Online Reports Center are correct? Your answer: The Reports Center is divided into three tabs: All, Custom Reports and Management Reports Cash basis reports display income at the time it was received and expenses at the time they were paid The reports available for your clients or their team members depend on the subscription levels, user roles and the features they or you have enabled In the Balance sheet report, you can see the financial condition of a business. You can also see whether the business is able to meet its obligations and its working capital Edit answer

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture