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Christopher Fontenele Finanças Inglês 62 flashcards

Flashcards do conjunto (62)

  1. 1Marcus runs a small e-commerce business that ships beauty products. He wants to allow customer orders to feed into his QuickBooks Online account. Which other product do you think might suit him best?An app from the QuickBooks App center
  2. 2Benefit of using apps with QuickBooks Online?- To reduce data entry
    - To solve industry specific tasks
    -To streamline workflow process
    -To expand business insight
    - For security
  3. 3What are some benefits with the ProAdvisor Program?- Access to training and support for clients and your firm
    - Marketing resources, guides and templaes through the Intuit Marketing Hub
    -Exclusive discount on subscriptions, software, and apps for your clients and your firm
  4. 4How many points do I earn for adding a QuickBooks Self-Employed subscription for a client?25 Points
  5. 5How do I earn 50 points for the ProAdivsor program?- Add a QuickBooks Online subscription for a client
    - Add a Quickbooks Online Payroll Core OR Premium subscription for a cliet
  6. 6How do I earn 75 points for the ProAdvisor program?- Add a Quickbooks Online Payroll Elite subscription for a client
    - Add a Quickbooks Online Advanced subscription for a client
  7. 7How do I earn 100 points for the ProAdvisor program?- Complete certification for QuickBooks Online
    -Complete certification for QuickBooks Payroll
    - Complete certification for QuickBooks Desktop
    -Complete certification for QuickBooks Desktop Enterprise
    -Purchase ProAdvisor Deluxe or Premium for deskop (once per year)
  8. 8How do I earn 200 points for the ProAdvisor program?- Complete advanced certification for QuickBooks Online
  9. 9If I'm new to QuickBook which tier am I placed?You'll be automaticaly placed in the Silver tier
  10. 10end-to-end accounting lifecycle:Weekly: Record and review transactions
    Monthly: Analyze and reconcile the books
    Quarterly: Evaluate and maintain finances
    Annually: Finalize books and report taxes
  11. 11Weekly tasks for Accounting lifecycle- Record transactions -
    Record every transaction (customer billings and payments, vendor payments, and so on) in the proper account at least every week.
    - Document and file receipts -
    Keep copies of all invoices, cash receipts, and cash payments, and add them to organized files for easy reference.
    - Review unpaid bills -
    Create records for each vendor, and keep track of billing dates, amounts due, and payment due dates.
    - Prepare and send invoices - Be sure to include payment terms in invoices, and consider offering early-payment incentives to get paid on time.
    - Pay vendors and sign checks -
    Track accounts payable and earmark funds to pay suppliers on time.
    - Review projected cash flow - Create a statement showing the current cash position, expected cash receipts, and expected cash payments for the upcoming week.
  12. 12Monthly tasks for Accounting lifecycle- Reconcile your checkbook -
    Make sure cash transaction entries are accurate and that the business is working to the correct cash position.
    - Review past-due receivables -
    At the beginning of the month, send out friendly reminders to customers, clients, and anyone else who owes the business money.
    - Analyze inventory status -
    Reorder products that sell quickly, and identify others that are moving slowly and may need to be marked down or discontinued.
    - Process payroll-
    Withhold, report, and deposit the applicable income, Social Security, Medicare, and disability taxes to the appropriate agencies by their due dates.
    - Review actual profit and loss vs. budget-
    If the business doesn’t have a budget prepared, compare the current profit and loss with the same prior-period year-to-date statements.
    - Review month-end balance sheet vs. prior period-
    Compare the current balance sheet with one from the same period in the previous year to see how the company is managing its assets and liabilities.
  13. 13Quarterly tasks for Accounting lifecycle- File estimated quarterly taxes -
    Pay estimated taxes every quarter to avoid fines and lower the year-end tax burden.
    - Review quarterly payroll reports -
    The IRS and most states require quarterly payroll reports and payments.
    - Review sales tax and make payments -
    If the business operates in a state that requires sales tax, be sure to make all the required payments.
    - Prepare year-to-date profit and loss estimate -
    Evaluate how much money the business is actually making, the difference between revenue and expenses, and what has caused the discrepancies.
  14. 14Annual Tasks for Accounting lifecyceReview past-due receivables
    Check past-due receivables, and decide whether to send past-due bills to a collection agency or write them off for a tax reduction.
    - Review inventory -
    Calculate the value of items not sold. Then use the unsellable inventory as a deduction for year-end taxes.
    - Fill out IRS Forms W-2, 1099-MISC, and 1099-NEC -
    February 1 is the deadline for filing forms W-2 and 1099-NEC. Form 1099-MISC must be completed by March 1 if the business files on paper, or by March 31 if filed electronically.
    - Review actual profit and loss vs. budget-
    If the business doesn’t have a budget prepared, compare the current profit and loss with the same prior-period year-to-date statements.
  15. 15What are the two views on QBO:Business and Accountant
  16. 16Where would you go to find the accountant-only features such as Prep for taxes or Write off invoice?Accountant Tools
  17. 17What does the Profit and Loss tile in the Business overview tab show?It shows the NET income for the selected period. By selecting it, clients are taken to the Profit and Loss report of the SELECTED PERIOD.
  18. 18What does the QBO Mobile Ap allow clients to do?- Create, view, and email estimates, invoices, and sales receipts
    - Access customer information
    - Convert estimates to invoices
    - Receive payments
    - Track expenses
    - Track mileage
    - Download and add or match bank transactions
  19. 19How much does it cost to use the QuickBooks Online mobile app?Nothing—it’s free for all QuickBooks Online subscribers
  20. 20Can I view different menus at the same time?Yes. To open another window, select Accountant Tools at the top of the screen and then select New window.
  21. 21What keyboard shortcuts can I use?To see which shortcuts are available, select [Ctrl] + [Alt] + [?] ([CMD] + [⌘] + [?] on a Mac) simultaneously
  22. 22How can I identify my client~s company if needed?Every QBO company has a unique Company ID.
    To see the client’s Company ID, navigate to Account and Settings. Alternatively, press the [Ctrl] + [Alt] + [?] buttons ([CMD] + [⌘] + [?] on a Mac) to call up the the Additional information screen used for the keyboard shortcuts.
  23. 23Can I work on the go?Yes. You can use the mobile app.
  24. 24Can I open multiple companies at once?Yes. You can access more than one company at the same time.
  25. 25What’s the best way to compare two reports at the same time in QuickBooks Online?Duplicate the window and then open the new report in the duplicated window.
  26. 26What are the KEY benefefits ofthe Client Overview tab?- Concise subscription information
    - Recent banking activity stats
    - Early indications of banking errors
  27. 27What can you do to make sure the app is suitable before recommending it to your client?- Read the review of the app from customers and other ProAdvisors
    - Test the app yourself beforehand
    - Request a demo of the app from the developer
  28. 28If your client was selling a combination of products and services, such as a computer service, IT support for a year, and a pack of USB sticks, which option would you select when setting up their product and service items?Bundle
  29. 29Once you’ve imported a customer list, where will you find the newly added customers in the client file?Under the Customers tab in the Sales Center
  30. 30Which options are true about the journal entry QuickBooks Online creates if you add a new vendor with a non-zero opening balance?- The journal entry will increase accounts payable
    - The journal entry will decrease the Opening Balance Equity account
  31. 31How many days of historical data are carried over from a bank account that is connected using OAuth?Depending on the financial institution, between 30 days and 2 years.
  32. 32When a client sets up QuickBooks Payments the first time, what sections do they need to fill in?- Personal Information
    - Business Information
    - Company bank details
  33. 33Does it cost anything to use Bill Pay?Scheduling and paying bills right from QuickBooks Online via bank transfer or debit card is free. Credit card payments carry a 2.9% fee.
  34. 34Who can add and manage app subscriptions for clients? Select all that apply.- Firm Primary Admin
    - Full Access Team User
  35. 35For QuickBooks Time, which subscription options can you choose from? Select all that apply.- Standalone vs Integrated
    - Premium vs Elite
  36. 36As well as adding the logo to the invoices, how else can you customize an invoice? Select all that apply.- Add color to certain areas
    - Set the size and position of the logo
    - Change the font style and size
  37. 37Where would you go in QuickBooks Online to manage user access?Gear Icon > Manage Users
  38. 38Can clients see the notes in the client details screen?No
  39. 39Which of these can you select in the Billing details tab to view an itemized invoice?- View PDF
    - Download CSV
  40. 40Which usage limits can you see in the Usage tab under Account and Settings? Select all that apply.- Billable users
    - Classes and locations
    - Tag groups
  41. 41Which team permissions should you set to Yes for a firm user assigned to invoicing for the firm?Customer and Accounts receivable
  42. 42Which of these does the Work feature in QuickBooks Online Accountant allow you to do?- Set up repeating projects for the same client that will occur on a regular basis.
    - Filter tasks by client, team member, or project type.
  43. 43How can you ask the client to send the correct bank statement, as part of a tracked conversation?- Edit the client request and add a comment
  44. 44Which of the following is not an improper workflow?When recording a check paid by a customer, going to the Customers column and selecting Receive payment.
  45. 45Which of these statements about estimates in QuickBooks Online are true?- Estimate data can be used to create a purchase order in QuickBooks Online
    - Estimate data can be used to create an invoice in QuickBooks Online
  46. 46Which of these options is true about Credit memos in QuickBooks Online?Credit memos reduce accounts receivable
  47. 47Which of the following statements is true about Vendor Credits in QuickBooks Online?Vendor Credits post as a debit to decrease accounts payable
  48. 48Which of these situations would call for a deposit transaction? Select all that apply.- Your client receives a tax refund from the IRS
    - Your client receives a cash back payment from a vendor for ordering in bulk
  49. 49Before a client sets up a recurring monthly charge for a customer’s credit card or ACH, Visa, and Mastercard, what does your client need to do?Get the customer to sign an authorization form.
  50. 50Which of these are true about journal entries in QuickBooks Online? Select all that apply.- You can't use Products and Services items in a journal entry
    - Total debits must equal total credits in order to save the journal entry
  51. 51What is the next step in the receipt addition process once your client has captured a receipt for a new expense and uploaded it from their computer?- Go to the For Review tab in Receipts
  52. 52Which is the best example of when you might need to exclude some transactions from a bank feed?- Your bank mistakenly imports transactions more than once when first set up.
  53. 53Which bank feed elements can be automatically configured via a bank rule? Select all that apply.- Type
    - Category
    - Payee
    - Class
    - Location
  54. 54Which of these recurring transactions could be used if a client needs to set up a monthly recurring customer charge including payment?- A recurring sales receipt
  55. 55Which of the options are true of tags and tag groups in QuickBooks Online? Select all that apply.- Up to 40 tag groups can be created with a QuickBooks Online Simple Start, Essentials, or Plus subscription
    - Unlimited groups can be created with a QuickBooks Online Advanced subscription
    - Up to 300 grouped tags and unlimited ungrouped tags can be created with any QuickBook Online subscription
    - Tag groups can be deleted
  56. 56Which reports should you compare to help them make this decision? Select all that apply.- Profit and Loss report
    - Statement of Cash Flows report
  57. 57One of your e-commerce clients ordered far too many products in the build-up to the holiday season last winter. This left them with too much stock in January and they had to offer discounts in order to shift the stock. Which report could help prevent them from making the same mistake next year?Sales by Product/Service Summary report
  58. 58Which of the following report customization options are available in QuickBooks Online? Select all that apply.- Aging
    - Header/Footer
    - Rows/Columns
    - Filter
    - General
  59. 59Which of the following statements are correct regarding management reports in QuickBooks Online? Select all that apply.- You can add as many reports as needed to the package
    - You can't reorder the reports included in the package
  60. 60Which of the options below does the month-end review process help with? Select all that apply.- Finding transactions with outstanding issues
    - Dealing with unreconciled accounts
    - Identifying discrepancies with accounts and starting balances
    - Creating and sending management reports.
  61. 61Which of these are the stages of the month-end review process? Select all that apply.- Setup
    - Transaction Review
    - Account reconciliation
    - Wrap up
    - Final Review
  62. 62Which of the following year-end tools would you find in Accountant Tools in QuickBooks Online Accountant? Select all that apply.- The write off invoices tool
    - The Reclassify transaction tool
    - The Prep for taxes tool

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Flashcards made to study and learn more about QuickBooks Online
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