Customizing QuickBooks® Online

Preview · ~35 min read · from QuickBooks® Online Step-by-Step

QuickBooks® Online has many customizable options that allow you to configure the program to meet your own needs and preferences. This chapter covers Terms, Payment Methods, Sales Tax, Classes, Custom Fields, and User Permissions.

In this chapter

• Setting Up Sales Tax
• Adding State Agencies
• The Sales Tax Center
• Applying Sales Tax on Forms
• Setting Up Products and Services
• Product and Service Categories
• Service Items
• Non-Inventory Products
• Inventory Products
• Bundles
• Customizing Lists
• Implementing Custom Fields
• Activating Class Tracking
• Adding Users and Passwords
• Accounting Firm Users
• Do It Yourself

Chapter review: Customizing QuickBooks® Online

11 practice questions. The answers are in the book.

1. You can create Custom Fields for:

   • Customers.
   • Transactions.
   • Vendors.
   • All of the above.

2. Which user type is responsible for the QBO subscription?

   • Primary User.
   • Company User.
   • Standard User.
   • Accountant User.

3. Classes are used for:

   • Getting training.
   • Grouping customers.
   • Tracking income and expenses by revenue stream.
   • Payment methods.

4. How many Users can be added to QBO Plus?

   • 3.
   • 5.
   • 25.
   • Unlimited.

5. Which does NOT have to be set up in order to calculate Sales Tax correctly?

   • Customers.
   • Products and Services.
   • The state you’re in.
   • Payroll Tax.

6. To add a new Sales Tax to the list:

   • See if QBO suggests any based on your company information.
   • Specify the states where you do business.
   • Add a new service item for each sales tax rate.
   • Either a or b.

7. You would like your customers to pay you within 15 days. What List would you open to start creating this option?

   • Customers.
   • Products and Services
   • Payment Methods.
   • Terms.

8. Where should you go to pay your Sales Taxes?

   • Write a check or enter a credit card expense.
   • The Sales Tax App.
   • Pay a bill.
   • The Bank Transactions feed.

9. The Payment Methods list:

   • Contains the forms of payment you accept from customers.
   • Contains the forms of payments you use for vendors.
   • Should be customized to reflect your business’s needs.
   • All of the above.

10. The types of Products and Services include:

    • Invoices, Sales Receipts, and Estimates.
    • Customers, Vendors, and Employees.
    • Inventory Asset, Cost of Goods, and Income.
    • Inventory, Non-inventory, Service, and Bundle.

11. What is the benefit of using Bundles on a sales form?

    • Save time in data entry.
    • Calculate quantities on several items at once.
    • Combine several Products and Services into one.
    • All of the above.