QBO Online Setup 3

Question 1

A new QBO company defaults to cash-basis accounting. Where does a ProAdvisor change this to accrual-basis?

Accepted Answer

Account and Settings > Advanced > Accounting method

Answer

The default accounting method (cash or accrual) is set under Account and Settings > Advanced in QuickBooks Online.

Question 2

When importing a chart of accounts using a CSV file into a new QBO company, which column is mandatory?

Accepted Answer

Account Name and Account Type

Answer

The Account Name and Account Type columns are required in the CSV import — QBO cannot create an account without both.

Question 3

A client's QBO company is set up under the wrong industry type. What is the primary impact of changing the industry setting later?

Accepted Answer

The recommended chart of accounts changes but existing accounts are unaffected

Answer

Changing the industry type updates QBO's default account recommendations but does not modify any accounts or data already created.

Question 4

Which user role in QBO has permission to manage subscriptions and billing but cannot enter transactions?

Accepted Answer

Billing Manager (or the Master Admin for billing only)

Answer

The Master Admin or a Billing Manager role can manage subscription and billing information without necessarily having transaction access.

Question 5

During QBO setup, a ProAdvisor wants to customize invoice numbering to start at 1001. Where is this configured?

Accepted Answer

Account and Settings > Sales > Sales form content > Custom transaction numbers

Answer

Custom transaction numbers, including starting invoice numbers, are configured under Account and Settings > Sales > Sales form content.

(QBO) Certified QuickBooks ProAdvisor Practice Test