Fresh Quickbook Interview Questions & Answers:

1. What is QuickBooks?

QuickBooks is an accounting software package developed and marketed by Intuit.

2. 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.

3. During the Easy-step Interview, you can turn on and off which features?
a. Sales taxes
b. Inventory
c. Progress Invoicing
d. All of the above

d. All of the above

4. During the EasyStep Interview, you can set up a password for which of the following users?
a. Administrator
b. External Accountant
c. You cannot setup passwords during the EasyStep interview
d. All users

a. Administrator

5. When setting up a new company through the EasyStep Interview, some company information is optional and some is absolutely required. Which of the following pieces of information does QuickBooks require you to enter?
a. Company name
b. Company password
c. Tax ID
d. All of the above

a. Company name

6. 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.

7. 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.

8. You've been hired by a company that started in 1911. They've never used QuickBooks. During the EasyStep Interview, what "Start Date" should you use?
a. There is no Start Date in the EasyStep Interview.
b. The date the company bought QuickBooks.
c. 1911
d. The date you want to begin tracking the company's finances in QuickBooks.

d. The date you want to begin tracking the company's finances in QuickBooks.

9. 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.

10. Why would you restore a data file from the backup file?
a. You wish to review the company data as it stood at an earlier date.
b. The company data file on your hard drive is damaged and cannot be used.
c. Your computer crashed. You reloaded QuickBooks, and now you are ready to open the company file.
d. All of the above.

d. All of the above.

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11. 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.

12. 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.

13. Which of the following is not a backup option in QuickBooks?
a. Manually back up the file.
b. Automatically back up the data file when closing QuickBooks.
c. Schedule an unattended backup
d. All of the above are QuickBooks backup options.

d. All of the above are QuickBooks backup options.

14. What happens when you press F2 in QuickBooks?
a. Nothing, because function keys are not designed to work with QuickBooks.
b. QuickBooks opens the Help.
c. QuickBooks opens the Product Information window which includes version and company file information.
d. QuickBooks closes all windows.

c. QuickBooks opens the Product Information window which includes version and company file information.

15. How do you create an Accountant's Copy?
a. From the Home page, click Accountant's Copy.
b. Choose Accountant > Create Accountant's Copy.
c. Choose File > Accountant's Copy > Select Save File or Send to Accountant.
d. Only accountants can create an Accountant's Copy.

c. Choose File > Accountant's Copy > Select Save File or Send to Accountant.

16. When you start a company or are hired as a bookkeeper, it is important to know which edition of QuickBooks you are using. What are the major QuickBooks editions?
a. QuickBooks Online, QuickBooks Pro, QuickBooks Premier, QuickBooks Enterprise Solutions
b. QuickBooks Online, QuickBooks Basic, QuickBooks Pro
c. QuickBooks Basic, QuickBooks Pro
d. QuickBooks Premier, QuickBooks Enterprise Solutions

a. QuickBooks Online, QuickBooks Pro, QuickBooks Premier, QuickBooks Enterprise Solutions

17. When entering a journal entry, what happens if the debits don't equal the credits?
a. QuickBooks sends the difference to an adjustment account.
b. QuickBooks will not allow you to record the transaction.
c. QuickBooks asks you what to do with the "unequal" amount.
d. Nothing. QuickBooks records the transaction as is.

b. QuickBooks will not allow you to record the transaction.

18. What do the diamonds mean on certain lists (for example, the diamonds to the left of each Customer:Job)?
a. You are not allowed to delete that entry.
b. You can click on the diamond and move the list entry to a different location on the list.
c. There are open transactions related to the list entry
d. You cannot move the list entry.

b. You can click on the diamond and move the list entry to a different location on the list.

19. If you moved a list entry up or down, what happens when you add a new entry to the list?
a. QuickBooks adds new list entries to the bottom of the list, regardless of alphabetic order.
b. QuickBooks adds new list entries in alphabetic order.
c. QuickBooks adds new list entries to the top of the list, regardless of alphabetic order.
d. QuickBooks asks you how to sort new list entries.

c. QuickBooks adds new list entries to the top of the list, regardless of alphabetic order.

20. What is the maximum number of names that can be included on the Names lists in QuickBooks Pro or Premier?
a. 10,000
b. 1,000
c. 2,500
d. 14,500

d. 14,500

21. What keyboard shortcut allows you to see a total for all four names lists?
a. F2
b. Ctrl + L
c. F12
d. Ctrl + 4

a. F2

22. How do you combine or merge two list entries?
a. Rename the unwanted list entry to match the name of the list entry you want to merge into.
b. Open the list entry you want to get rid of and click Merge.
c. From the bottom of the list, click the Activities menu and select Combine Entries.
d. You cannot combine or merge two list entries.

d. You cannot combine or merge two list entries.

23. Suppose you own a company that repairs bicycles. What item type should you use for "bicycle repair"?
a. Inventory Part
b. Non-inventory Part
c. Other Charge
d. Service

d. Service

24. Which of the following is noy an item Type?
a. Inventory Part
b. Service
c. Non-inventory Part
d. Income

d. Income

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25. Which of the following statements is true concerning items?
a. You can use one item to represent different services or goods.
b. Items allow you to track your sales in more detail without cluttering your Chart of Accounts or Profit & Loss.
c. To create an invoice, you must use an item.
d. All of the above.

d. All of the above.