Prelims

Question 1

Is where you store your company’s financial records in Quickbooks

Answer 1

Company File

Question 2

Double click tha desktop shortcut that quickbooks created during installation to launch the program

Answer 2

Desktop Icon

Question 3

The fastest way to open quickbooks

Answer 3

Windows taskbar

Question 4

Without a desktop icon, you can launch quickbooks from the

Answer 4

Start menu

Question 5

The best option if this is your first time creating a company file

Answer 5

Express Start

Question 6

This option launches the EasyStep Interview window, which asks for more information on each screen than Express Start does

Answer 6

Advanced Setup

Question 7

This button covers the rest of the bases

Answer 7

Other options

Question 8

The name you want to appear on invoices, reports, and other forms

Answer 8

Company Name

Question 9

Based on your choice, quickbooks adjust its settings and chart of accounts to match how your business operates

Answer 9

Industry

Question 10

The tax form you use depends on the type of business entity you have

Answer 10

Company type

Question 11

This drop down list contains the most common types from sole proprietorships and partnerships to corporations and non profits

Answer 11

Company type

Question 12

This box is for the federal tax ID number you use when you file taxes

Answer 12

Tax ID

Question 13

This is the name you use on contracts and other legal documents

Answer 13

Legal Name

Question 14

Enter your mailing address, telephone number, email address, and website address, if you have one

Answer 14

Contact info

Question 15

This tab is purely informational

Answer 15

Features selected

Question 16

This tab lists accounts typically used in your industry

Answer 16

Chart of Accounts

Question 17

This tab shows the path on your computer where the program plans to save your company file

Answer 17

Company file location

Question 18

Guides you through the setup process, but it gives you more control over setting up your company file than Express Start does

Answer 18

EasyStep Interview

Question 19

The first screen wants to know the name of your company, its legal name, tax ID, and your contact info

Answer 19

Name and contact info

Question 20

On the “select your industry” screen, choose the industry closest to yours

Answer 20

Industry

Question 21

On the “how is your company organized? “screen, select the option for your company type

Answer 21

Type of company

Question 22

This setting determines which tax form, accounts, and tax form lines you’ll use to prepare your business tax return

Answer 22

Type of company

Question 23

On the “select the first month of your fiscak year” screen, quickbooks automatically sets the “My fiscal year starts in” box to january because so many businesses stick with the calendar year for simplicity

Answer 23

First month of fiscal year

Question 24

The administrator can do absolutely anything in your company file

Answer 24

Administrator password

Question 25

Is where you tell the program whether you generate statements to send to customers

Answer 25

Using statements in quickbooks

Question 26

Select yes to tell the program that you want to use invoices, which you probably do because invoices are the most flexible sales forms

Answer 26

Using invoices in quickbooks

Question 27

Asks whether you plan to write checks to pay bills immediately or enter bills in quickbooks and then pay them later

Answer 27

Managing bills you owe

Question 28

Is the screen where you tell the program whether you keep track of the products you have in stock

Answer 28

Tracking Inventory in Quickbooks

Question 29

Ideal if you bill by the hour

Answer 29

Tracking time in quickbooks

Question 30

Gets you going as quickly as possible by asking for the minimum amount of info

Answer 30

Express Start

Question 31

You can use it to open an existing company file or to convert existing records

Answer 31

Other options