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Section 3

Subscriptions

- 5 Subscription levels: Self-Employed, Simple Start, Essentials, Plus, and Advanced

- You and your client both decide that the client needs to upgrade their current subscription level in
QBO, if you pay for your client's subscription, what steps would you take to upgrade your client?

Gear icon > Subscriptions and billing > Accountant-billed subscriptions tab > Subscription actions >
Upgrade
Note: If client pays for their OBO account then it would be client-billed

Subscription Downgrade

- When downgrading a client's subscription, what will be affected as a result of the downgrade?

All discounts will be removed

Note: Apps can be affected and features can be lost

Printing Subscription

-Pricing A client wants to download an itemized invoice for their QuickBooks Online subscription
preferred pricing account, that statement can be downloaded in which 2 file types?

PDF CSV

Work Feature (Work tab)

- The Work feature in QuickBooks Online Accountant allows you to:

Create projects and tasks right from your Work dashboard for all your clients. If the client doesn't use
QBO, you can add them as a client at the same time you create a project
Assign projects or specific tasks to yourself or your other team members
Manage requests and send messages to your clients
See a list of the deadlines for your firm (what’s due today, next week, past due)
Set up recuring projects for clients
Duplicate existing projects across multiple clients to save time on manual entry

Work Area

- Which filter can be used to find a specific project when in the Work area?

Team member AND/OR client AND/OR project type

- How many tasks does QuickBooks Online allow you to assign to a project?

There's no limit

Tasks: QuickStart Templates

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- You can use QuickBooks Online Accountant's standard templates if you're mapping out a common
series of tasks. You can adjust tasks, due dates, and assignees to tailor it to your needs.

- You also can duplicate these and use them as a starting point to create a fully customized project
without having to start from scratch.

- Use our standard templates as a starting point. Adjust tasks due dates, and assignees when you create
a project from a template

Bi-weekly payroll, Client onboarding, Monthly bookkeeping, Yearly taxes

Client end - Document Shared

- Where would your client navigate within QuickBooks Online to see documents that you have shared
with them?

My accountant > Shared documents

Work Area - Project Templates

- In which 2 ways can you create a customized template for a project?

Create a template from scratch, Duplicate a Quick Start template

Client Request

- You can track and edit all your requests in the Work menu in QuickBooks Online Accountant. Here, you
can:

See all your requests by filtering for Requests

Filter requests further by client or the assignee in your team
Select any request to edit it or respond to it
Change the status of the request using the dropdown. (You can set the status as To do, in progress,
Blocked, or Done)

- Facts about creating a client request in QuickBooks Online Accountant:

A document request notification can be sent via email by selecting

Notify client A document request appears in the client's QuickBooks Online company in the My
Accountant menu

Changing Work Notifications

- Where do you go to change your Work notifications within QuickBooks Online Accountant?

Gear icon > Company settings > Notifications > Work notifications

Project Status in Work tab (QBOA)

- After finishing a project, how do you change the status of the project in QuickBooks Online
Accountant?
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Work > Status dropdown > Done

Projects - Recurring

- What is the correct process for setting up a recurring project for the same client?

Create a new project and use the Repeat slider to turn it on then set the frequency and duration

Projects - Client end

- Once the project feature is activated in QBO Plus or Advanced, a client can create their own projects
for the Projects tab and after the creation of creating that project, they will see that new project added
to the list of projects in that tab. Each project needs a project name and an assigned customer. The note
field is optional.

- Each project needs a project name and an assigned customer. The note field is optional

- Each project has a status, which can be in progress completed or canceled. You can change the status
by using the Options dropdown at the right of each project in the list or in the project itself.

Undeposited Funds

- Undeposited Funds is a temporary holding account that allows you to hold received payments until
they clear your back account. You would then create a single bank deposit transfer for multiple
payments, making it easy for them or you to match the bank register with their bank statement

Step 1: When receiving a payment from a customer under "Deposit to use Undeposited funds.
Step 2: Once deposited, +New>Bank deposit and select all that apply
Step 3: To check it, Sales>Invoices>On Money Bar select Deposited

Add to a Project

- What can be added to a project?

Invoice, Receive payment, Expense, Estimate, Time, Bill, Purchase order

Undeposited Funds

- A client just received a customer payment and selected Undeposited Funds as the Deposit to account.
Later that day they created a deposit transaction to group all the payments taken to the bank. Where
can they view what has been deposited?

Sales Center > Invoices > select Deposited on the money bar

- By posting to Undeposited Funds, you can create a single bank deposit for multiple payments, making
it easy ____________ When receiving a payment, make sure __________

to match your bank register with your bank statement

the "Deposit to account is Undeposited Funds

Tools to Identify Issues

- What are 2 tools you can use to identify possible issues in a QuickBooks Online Company?
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Voided/deleted transactions tool

Transaction Journal report

Undeposited Funds

- A customer has just recorded received payments against open invoices and does not see the payments
on the Bank Deposit screen. What field should she review on the Receive payment screen?

Deposit to

Common Workflow

- Issue Which common workflow error can cause duplicate expenses in QuickBooks Online?

Creating a bill to record a vendor expense, and creating a check to the vendor for the same expense

Firm Users and Their Access

- What are the 3 types of use permissions you can choose from in QuickBooks Online?

Full access, Basic access, and Custom access

Firm users can be granted three levels of access to the firm's QuickBooks Online Accountant
company file.
Full access: This allows the user to edit QuickBooks Online Accountant firm information, modify
team users, update the firm's ProAdvisor Preferred Pricing subscription billing account and
access the firm's books
Basic access: This gives the user view-only access to QuickBooks Online Accountant firm
information, but no access to team and subscription billing and no access to the firm's books
Custom access: This option allows you to customize the permissions for the team user.
Use the Team menu in the left-hand navigation to access team user details. You'll see a grid with
the name of each of the film's start their title, email address type of access, and status

Users

- Which user has access to the Voided/deleted transactions tool?

Accountant user

Changing Lead

- How does a client update the lead for their client in QuickBooks Online?

Clients > Filter > Edit leads > Select the new lead > Save

Chart of Accounts - Plus

- What is the maximum number of accounts allowed within the chart of accounts in QuickBooks Online
Plus?

250

Creating a Customer Statement

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Go to the Sales menu and select the Customers tab

Check the customer(s) to make statements for

In the Batch actions dropdown, select Create statements

In the Statement Type dropdown, select the type of statement you'd like to make

- There are three statement options. They are:

Balance forward, Open item, and Transaction statement

Next set the Date fields for the statement. For instance, you could show all historic transactions
involving the customer, or just the current month's transaction Finally, select Save

3 Types of Customer Statements

The Balance Forward statement shows a list of invoices and payments with the balance for the
date range selected.
It's perfect for situations where a client wants to provide customers with a summary of what is
still due on their account.

With the Open Item statement your client can show a list of all open and/or unpaid invoices.
Advise clients to use this when they want to provide detail of all unpaid invoices, unapplied
payments and credit memos to their customers.

Use the Transaction Statement to show all the transactions between the customer and the
client's business between two set dates.
Clients might use this when there is a large volume of transactions for a customers they can see
how their payments have been applied.

Customer Statements

- A client wants to know the easiest way to let her customer know which invoices are still unpaid on
their account. Which feature in QuickBooks Online would you suggest?

Statement

- Different customer statement types are available to suit different client situations. Heather wants to
help her client send out a statement that reflects all unpaid invoices, unapplied payments, and Credit
memos. Which statement type should she choose?

Open Item
Transaction Statement
Balance Forward

- Which 3 types of customer statements can QuickBooks Online generate?

Statements that show a balance forward and then all activity between two specified dates
Statements that show invoices created between two specified dates and their related payments
Statements that show just open transactions
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Credit Memo

- What are 2 ways to start a Credit memo in QuickBooks Online?

+ New > Credit memo

Sales > All Sales > New Transaction > Credit Memo

Automatic Credit Memo Set up

- A QuickBooks Online user wants Credit memos to automatically apply to open invoices. Where must
the Automatically apply credits setting be turned on?

Account and Settings > Advanced > Automation

Estimates

Estimates are non-posting transactions that your clients can send to their customers to indicate how
much their product or service would cost.

As estimates move from the proposal stage to sale, clients can update the status and mark them as
Pending, Accepted, Rejected, or Closed. When estimates have been invoiced in full, QuickBooks Online
automatically marks them as closed.

New Estimate

- What are the steps to create a new estimate in QuickBooks Online?

Sales > All Sales > New Transaction > Estimate

- What are 4 status types that can be assigned to an estimate in QuickBooks Online?

Pending, Accepted, Rejected, or Closed

After Customer Approves Estimate

- Which feature helps streamline the purchasing process once a customer approves an estimate?

Create purchase order from an estimate

Converting an Estimate to PO

- What is the best practice sequence of steps to convert an estimate to a purchase order?

Open estimate > down arrow next to Create invoice > Copy to purchase order

- When wanting to use the Copy to purchase order feature from within an estimate, where do you need
to turn on the use purchase orders setting?

Account and Settings > Expenses > Purchase orders

Converting an Estimate to Invoice

- How can you convert an estimate to an invoice?

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Sales > Customers > Estimate > Start invoice in the Action column