Objective

Chapter

1

QuickBooks Online Administration

1.1

Set up QuickBooks Online

1.1.1

Recognize features and benefits of QuickBooks Online Plus

1, 16

1.1.2

Describe licensing requirements for setting up an entity in QuickBooks Online

1

1.1.3

Describe the process of migrating a company to QuickBooks Online

3

1.1.4

Describe the access of each default user role

4

1.2

Manage QuickBooks Online settings for a company

1.2.1

Identify the company information that you can and can’t edit

2

1.2.2

Recognize the benefits of the Close the Books feature

15

1.2.3

Compare and contrast the cash and accrual accounting methods

1

1.2.4

Identify the purpose of project tracking, class tracking, and locations

2

1.2.5

Describe how to activate project tracking, class tracking, and locations

2

1.2.6

Identify the tasks performed by automation

17

1.3

Manage lists

1.3.1

Identify the lists that you can import

4, 5

1.3.2

Identify the content of various lists

4, 5

1.3.3

Identify the appropriate lists for different purposes

4, 5

1.3.4

Identify when and how to add, edit, delete, and merge list items

4, 5

1.3.5

Manage the Chart of Accounts

4

1.4

Manage recurring transactions

1.4.1

Describe reasons for making transactions recurring

8

1.4.2

Define types of recurrence

8

1.4.3

Describe how to implement recurring transactions

8

1.5

Manage journal entries

1.5.1

Identify the information required for journal entries

15

1.5.2

Describe how to implement journal entries

15

1.6

Connect QuickBooks Online to apps

1.6.1

Identify the purpose of apps

16

1.6.2

Identify where to get apps

16

1.6.3

Identify the risks and benefits of extending functionality through apps

16

2

Sales and Money In

2.1

Set up customers

2.1.1

Identify the importance of the Display Name field

5

2.1.2

Differentiate between billing and shipping addresses

5

2.1.3

Define and describe the use of customer payment terms

5

2.1.4

Identify taxable and non-taxable customers

5

2.1.5

Define and describe the correct use of sub-customers

5

2.2

Set up products and services

2.2.1

Describe and differentiate between products and services

5

2.2.2

Identify the information required to set up products or services

5

2.2.3

Describe reasons for setting up products or services

5

2.2.4

Contrast inventory products and non-inventory products

5

2.3

Manage sales settings

2.3.1

Customize sales forms

16

2.3.2

Customize email message forms

2

2.3.3

Describe the purpose of activating customer discounts

2

2.3.4

Describe the QuickBooks Payments feature and how it differs from traditional payments

2, 16

2.4

Record basic money-in transactions

2.4.1

Describe the money-in transaction workflow

7

2.4.2

Record and manage invoices and sales receipts

7

2.4.3

Receive, record, and manage payments, undeposited funds, and deposits

7

2.4.4

Record credit memos and refund receipts

7

3

Vendors and Money Out

3.1

Manage vendor records

3.1.1

Describe how to identify existing customers as vendors

5

3.1.2

Describe when and how to merge vendor accounts

5

3.1.3

Describe how to add or change vendor payment terms

5

3.1.4

Describe how and why to identify vendors as 1099 contractors

5, 14

3.2

Manage expense settings

3.2.1

Describe how and why to activate expense tracking by customer

2

3.2.2

Describe when and how to make expenses and items billable

2

3.2.3

Describe how to identify unbilled billable expenses

2

3.3

Record and manage basic money-out transactions

3.3.1

Describe the money-out transaction workflow

8

3.3.2

Identify types of money-out transactions

8

3.3.3

Compare and describe the appropriate use of checks and bill payments

8

3.3.4

Describe the effects of recording bills, checks, and credit card transactions

8

3.3.5

Differentiate between expense transactions and bank feed transactions

8

3.3.6

Describe how to record check, credit card, and debit card expense transactions

8

3.3.7

Describe the use and effects of vendor credits and refunds

8

3.3.8

Describe why and how to void, delete, and edit money-out transactions and the impact thereof

8

4

Bank Accounts, Transaction Rules, and Receipts

4.1

Implement financial account connections

4.1.1

Identify the types of financial accounts QuickBooks Online can connect to

4

4.1.2

Describe the benefits of connecting QuickBooks Online to accounts

4

4.2

Manage bank feeds

4.2.1

Process bank feed transactions

9

4.2.2

Define and describe the use of bank rules

9

4.3

Manage receipts

4.3.1

Identify methods of uploading receipts

8

4.3.2

Describe how to record transactions from uploaded receipts

8

5

Basic Reports and Views

5.1

Describe the content and purpose of reports

5.1.1

Describe the content and purpose of financial reports

6, 10, 11

5.1.2

Describe the content and purpose of money-in reports

12

5.1.3

Describe the content and purpose of money-out reports

13

5.2

Customize and deliver standard reports

5.2.1

Customize standard reports

10

5.2.2

Identify report delivery formats

10

5.3

Access other reports and views

5.3.1

Describe the content of the Audit Log

11

5.3.2

Describe the content and functionality of the dashboards

1