Practice Test Geeks(QBO) Certified QuickBooks ProAdvisor Practice Test
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Reporting & Reconciliation Flashcards

7 cards from real QBO practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.

Read the first 7 Reporting & Reconciliation flashcards as text

  1. Which QBO report would you use to verify that all sales tax collected has been properly recorded before filing a return?

    Answer: Sales Tax Liability Report

    The Sales Tax Liability Report shows tax collected by agency and rate, making it the primary report for sales tax filing verification.

  2. A ProAdvisor wants to see all transactions entered or modified in QBO during the past 30 days. Which tool provides this?

    Answer: Audit Log

    The Audit Log records every create, edit, and delete action in QBO with timestamps and user information.

  3. What is the effect of running a Balance Sheet report 'By Class' in QBO?

    Answer: It splits each balance sheet account into columns by class for departmental tracking

    Running a Balance Sheet by Class adds a column for each class, showing how assets, liabilities, and equity break down by department or segment.

  4. During reconciliation, a transaction appears in QBO but not on the bank statement. What is the correct action?

    Answer: Leave it uncleared — it may be an outstanding item that will appear on next month's statement

    Transactions in QBO not on the statement are outstanding items — they should remain uncleared until they appear on a future bank statement.

  5. A client reports their Trial Balance doesn't balance (debits ≠ credits). What is the most likely cause in QBO?

    Answer: QBO rarely produces an unbalanced trial balance; suspect a corrupted data file or import error

    QBO enforces double-entry accounting, so an unbalanced trial balance almost always indicates a data import error or file corruption rather than a normal entry mistake.

  6. Which report setting in QBO displays a Profit & Loss as a percentage of total income for each line item?

    Answer: % of Income

    The '% of Income' option in report customization shows each P&L line as a percentage of total revenue, useful for margin analysis.

  7. After completing a bank reconciliation in QBO, which document should a ProAdvisor generate and file for record-keeping?

    Answer: Reconciliation Report (Summary and Detail)

    The Reconciliation Report (available in Summary and Detail versions) is the standard documentation to retain after completing each reconciliation.