. Are you looking for QuickBooks ProAdvisor certification exam questions with answers for self-assessment, then this article is for you. Here you will find some sample questions to get an idea about the QuickBooks certification exam. People can obtain intuit Quickbooks certification by taking an online certification exam. To obtain the certification, one must study diligently and commit adequate time to exam preparation, as well as exert extra effort to pass the exam.
Quickbooks online certification exam answers work according to a set of rules. You can save a photo or screenshot of your answers and return to finish the test later. You can only attempt the exam 3 times. To learn everything there is to know about Quickbooks online certification test 2021 questions and answers, as well as how to prepare for a future exam, read this post.
QuickBooks ProAdvisor Certification Exam Questions with Answers
For the exam, practice with all of the questions;
Section 1 of Certification Exam
Question 1: What is the distinction between accrual and cash basis accounting?
Records all of the paid expenses, and documents. And in an accrual basis, you can find the accounts payable, accounts receivable, prepaid expense assets, and customer deposit liabilities
Question 2: What is the difference between the main account and a sub-account? And why would you want to utilize it in the first place?
It can create extra categories, by attaching with the parent account.
Question 3: What is an Undeposited Funds Account, and how does it work?
When you receive a payment but the payment does not exist or record in the register.
Question 4: What are the two primary Reports in QuickBooks?
- Profit & loss
- Balance sheet
Question 5: What is the difference between entering a bill and writing a check?
The expense will be paid later, after entering a bill (Accounts Payable).
The paid expense record is the main purpose of written check, with no time delay between the expense date and the payment date. To mark the Bill (Accounts Payable) paid in QuickBooks, you must use the Pay Bills option; otherwise, the write check feature could potentially duplicate the expense and overestimate your liabilities.
Section 2 of Certification Exam
Question 6: What are Advanced QuickBooks users?
Create custom reports, educate potential users about the differences between QuickBooks versions, know how to describe reports, search and retrieve information, and have comfort working with numerous QuickBooks files.
Question 7: How will you differentiate between summary report and custom transaction detail report?
Summary reports contain the total for a customer or vendor and the total for a particular account. While detail reports consist of line by line, transaction by transaction, Itemized transaction.
Question 8: What does it signify when your Inventory is negative? What can you do to solve inventory problems?
You’re trying to sell merchandise that you don’t have. To detect discrepancies in inventory, run a “quick report” on the item in question. And look at all the times the inventory came in or out.
Question 9: What financial reports should you prepare at the end of the year to get ready for tax season or other sorts of financial reporting?
Profit and loss, balance sheet A/R Aging, A/P Aging, Inventory Valuation Summary, sales by rep, profit per task, and so on.
Section 3 of Certification Exam
Question 10: Why do users use QuickBooks Tool Hub?
To solve the common issue in QuickBooks.
Question 11: What is the difference between the Cost of Goods Sold (COGS) and Operating Expenses (Operating Expenses)?
Sale is directly connected with the cost of inventory sold and subcontractor expense, and exist with the sale exist. You need to subtract the total sale from cogs to find out the Gross margin or gross profit.
Question 12: What report or function allows you to see transactions that have been altered, modified, or deleted following bank reconciliation?
In the reports, banking menu, look for the reconciliation discrepancy report.
Question 13: What role do the MEMO text box play in the bill, invoice, cheque, and other document transaction research and report filtering?
To “tag” a transaction and find notes within transactions, you can use a code.
It was a sample of QuickBooks ProAdvisor Certification Exam Questions, hope you like it. If you need more information or question regarding this certification exam then you can take the help of an expert. he/She will help you to crack the exam or will help you to guide in the right direction for the certification.