Online Setup 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 Online Setup flashcards as text
When setting up a new QuickBooks Online company, which step must be completed before you can connect a bank account?
Answer: Complete the company profile including legal business name and address
QuickBooks Online requires the company profile (legal name, address, industry) to be completed before bank connections can be established.
A client wants to migrate from QuickBooks Desktop to QuickBooks Online. Which tool is recommended for this conversion?
Answer: The built-in QuickBooks Desktop migration utility (Export to QBO)
Intuit provides a built-in migration utility within QuickBooks Desktop to export company data directly to QuickBooks Online.
Which QBO subscription tier is required to track inventory using the First In, First Out (FIFO) costing method?
Answer: Plus
Inventory tracking with FIFO costing is available starting with the QuickBooks Online Plus plan.
During initial QBO setup, what does the 'closing date' setting in Account and Settings protect?
Answer: It restricts editing or deleting transactions before a specified date without a password
The closing date requires a password to edit transactions dated on or before that date, protecting reconciled historical data.
When configuring sales tax in QuickBooks Online, which setup step automatically calculates the correct tax rate for each transaction?
Answer: Using the Automated Sales Tax feature linked to the customer's billing address
QBO's Automated Sales Tax feature uses the customer's billing address to apply the correct jurisdiction rate automatically.
A ProAdvisor is setting up a client's QBO file and wants to enable the 'Multicurrency' feature. What is a critical warning to communicate before activation?
Answer: Once enabled, Multicurrency cannot be turned off
Enabling Multicurrency in QBO is irreversible — it cannot be disabled once turned on for a company file.
Which section of Account and Settings in QBO controls whether purchase orders are available in the company?
Answer: Expenses settings
Purchase orders are enabled under the Expenses section of Account and Settings in QuickBooks Online.