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“Quickbook frequently Asked Questions in various Quickbook job Interviews by interviewer. The set of questions here ensures that you offer a perfect answer posed to you. So get preparation for your new job hunting”



101 Quickbook Questions And Answers

3⟩ Explain the features of QuickBooks?

Intuit has integrated several web-based features into QuickBooks, including remote access capabilities, remote payroll assistance and outsourcing, electronic payment functions, online banking and reconciliation, mapping features through integration with Google Maps, marketing options through Google, and improved e-mail functionality through Microsoft Outlook and Outlook Express. For the 2008 version, the company has also added import from Excel spreadsheets, additional employee time tracking options, pre-authorization of electronic funds and new Help functions. In June 2007, Intuit announced that QuickBooks Enterprise Solutions would run on Linux servers, whereas previously it required a Windows server to run.

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6⟩ If you choose to "Remove Transactions as of a specific date" from the "Clean Up Company Data" window, what does QuickBooks do? a. Removes all payroll transactions that occurred on that date. This is a great way to fix the mistakes a new person made on a particular day. b. Removes all transactions while leaving lists, preferences, and service subscriptions intact. c. Changes the company's start date. d. Deletes all transactions, as well as user passwords and access privileges.

b. Removes all transactions while leaving lists, preferences, and service subscriptions intact.

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7⟩ How do you switch to Multi-User Mode? a. Choose Company > Set Up Users and Passwords > Set Up Users from the menu. b. Open the data file from a remote location. c. Choose Edit > Preferences > Multi-User from the menu. d. Choose File > Switch to Multi-user Mode from the menu.

d. Choose File > Switch to Multi-user Mode from the menu.

Explanation:

When the file is in Multi-User Mode, more than one user can access the file (but they must all be using the same version of QuickBooks). There are certain activities that can only be performed in single-user mode (QuickBooks will alert you when this is the case), but anyone can access the file in single-user mode.

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10⟩ How do you restore a company file from a backup copy? a. Choose File > Back Up. Then click the Restore from Backup button. b. Choose File > Utilities > File Operations > Restore. c. Choose File > Open or Restore Company. Select Restore a backup copy and click Next. Choose Local or Online Backup and click Next. Select the file to restore and click Open. Choose where to restore the file to and click Save. d. Click the Restore icon on the Home page.

c. Choose File > Open or Restore Company. Select Restore a backup copy and click Next. Choose Local or Online Backup and click Next. Select the file to restore and click Open. Choose where to restore the file to and click Save.

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11⟩ During the EasyStep Interview, how do you setup a new account that is not on the default list of accounts? a. You can't add accounts that are not on the QuickBooks default list. Finish the interview and add the accounts directly to the Chart of Accounts. b. Click Add new account in the EasyStep Interview. c. Click Edit Account during the EasyStep Interview. d. Select Import My Chart of Accounts during the EasyStep Interview.

a. You can't add accounts that are not on the QuickBooks default list. Finish the interview and add the accounts directly to the Chart of Accounts.

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12⟩ How do you set up multiple businesses in QuickBooks (assuming each business files a separate tax return)? a. Purchase a separate QuickBooks license for each company you need to set up. b. Go through the EasyStep interview for the oldest company first, and then choose File > Add a separate business at the end of the interview. c. Go through the EasyStep interview for each company to create a separate company file. d. Go through the EasyStep Interview for the largest company first, and then choose File > Add a separate business at the end of the interview.

c. Go through the EasyStep interview for each company to create a separate company file.

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16⟩ When would you enter a journal entry? a. To correct errors (if you have a strong accounting background) b. For year-end adjustments c. To enter depreciation d. All of the above

d. All of the above.

Explanation:

You should only use journal entries if you have a strong accounting background and truly understand debits and credits. Also, you should not use journal entries instead of the built-in forms and windows in QuickBooks. This can create unexpected results on reports.

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