Question 1

To record a credit sale, select:

Accepted Answer

None of these. No create purchase order, sales receipt, or create estimates.

Question 2

When recording a customer payment from a credit sale, select:

Accepted Answer

Receive Payment > Customer & Job Name

Question 3

When recording a customer payment from a cash sale, select:

Accepted Answer

Create Sales Receipt > Record Deposits

Question 4

The Customer List in QuickBooks can be accessed from all of the following except:

Accepted Answer

Banking Section of the Home page

Question 5

A reminder statement provides the following information, except:

Accepted Answer

Purchase order details

Question 6

Credit Sales are:

Accepted Answer

Recorded using a Create Invoices Window

Question 7

Online Billing allows you to:

Accepted Answer

Email invoices to customers

Question 8

When a credit sale is recorded on an invoice, QuickBooks records:

Accepted Answer

An increase to Sales and an increase to accounts receivable

Question 9

All the reports below provide information about customer and job profitability, except

Accepted Answer

Customer Detail List

Question 10

Which report provides information to help in tracking accounts receivable?

Accepted Answer

All of these. Customers with Open Invoices.Accounts Receivable Aging Summary.Collections Reports

Question 11

Sales in QuickBooks can be recorded with all the following means of payment, except:

Accepted Answer

Purchase Order

Question 12

To increase collections of payment, you can use all the following QuickBooks features, except:

Accepted Answer

Customers with New Invoices Report

Question 13

To print the Income by Customer Summary report:

Accepted Answer

Select customer center, Company & Financials

Question 14

Which one of the following activities is not shown in the Customer section of the Home page?

Accepted Answer

Make deposit

Question 15

To add a new job to the Customer List:

Accepted Answer

Select Customer Center Window, Click New Customer & Job

Question 16

The Job Profitability Summary Report is accessed from the:

Accepted Answer

Report Center

Question 17

To print the Aging of Accounts Receivable report:

Accepted Answer

Select Report Center, Customer & Receivables

Question 18

From the Customers Section, Assess Finance Charges allows you to:

Accepted Answer

Add finance charges to customer bills when bills are not paid by the due date

Question 19

From the Customers Section, Create Credit Memos/Refunds allows you to:

Accepted Answer

Record a refund or credit to a customer account for returned or damaged merchandise.

Question 20

The Customer List stores all the information listed below except:

Accepted Answer

Sales tax rates

Question 21

When a customer is billed when the project/job reaches specified milestones, what type of billing does the company use?

Accepted Answer

Progress billing

Question 22

Online bill pay allows you to:

Accepted Answer

Receive online payments from customers

Question 23

When recording a payment from a customer, if the customer odes not send the full amount:

Accepted Answer

Enter the amount received in the Amount field in the Customer Payment window

Question 24

The Undeposited Funds account:

Accepted Answer

Holds funds received but not deposited in the bank

Question 25

Which report provides information on customers who have overdue accounts?

Accepted Answer

Collections report

Question 26

Creating a sales receipt is:

Accepted Answer

Customers pay for their goods or services when it provided or cash sale

Question 27

Creating an invoice is:

Accepted Answer

Customer will pay on later date after goods or services are provided. Receive Payments window is recorded. Credit Sale.

Question 28

3 reasons why a job for a customer might be pending

Accepted Answer

1. Waiting on another condition to be met like required parts for delivery2. Contract is not signed but its created3. Record customer changes as work is being performed but before final billing

Chapter 4 – QuickBooks – Customers and Sales

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