QBO Class and Location Tracking 2

Question 1

Which QuickBooks Online subscription level includes both Class and Location tracking?

Accepted Answer

Plus

Answer

Class and Location tracking are available starting with QuickBooks Online Plus and are also included in Advanced.

Question 2

If a company has multiple retail store locations, which QBO feature is most appropriate for tracking each store's financial performance separately?

Accepted Answer

Location tracking

Answer

Location tracking is designed to monitor financial performance by physical or divisional location, making it ideal for multi-location businesses.

Question 3

What happens to a class when you make it inactive in QuickBooks Online?

Accepted Answer

The class is hidden from future selection but all historical data is preserved

Answer

Making a class inactive removes it from the active selection list but preserves all historical transactions and their data for reporting purposes.

Question 4

Can you create sub-classes (child classes) in QuickBooks Online?

Accepted Answer

Yes, by checking 'Is sub-class' when creating or editing a class

Answer

When creating a new class in QBO, you can check 'Is sub-class' to designate it as a child of a parent class, enabling a class hierarchy.

Question 5

Which of the following transactions CANNOT be assigned a Location in QuickBooks Online?

Accepted Answer

Payroll transactions created through QBO Payroll

Answer

Payroll transactions generated through QBO Payroll are created automatically by the system and cannot be manually assigned a Location.

(QBO) Certified QuickBooks ProAdvisor Practice Test