Beginner’s Guide to QuickBooks: Bookkeeping, Invoicing, and Financial Reporting

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Question 1
What is the primary purpose of QuickBooks’ invoicing feature?

(A) To directly manage payroll processing

(B) To create and send billing invoices to customers

(D) To pay vendor bills automatically

Question 2
If you notice an overdue invoice in QuickBooks, what should be your first action?

(A) Recreate the invoice with a different number

(B) Edit the invoice to change due dates without notifying the customer

(D) Review the invoice details and send a reminder to the customer

Question 3
Which sequence correctly outlines the process in QuickBooks for recording a customer payment against an invoice?

(A) Navigate to the bank deposits, then match the payment to the bank statement

(B) Open the invoice, select 'Receive Payment', and record the amount received

(D) Create a new invoice, then add a payment record to the vendor account

Question 4
What is an essential step when setting up a new company file in QuickBooks?

(A) Enter accurate company information and choose the appropriate accounting method

(B) Skip creating a chart of accounts to simplify the startup

(D) Set up only the bank accounts and ignore customer details initially

Question 5
Which report would you generate in QuickBooks to review the overall financial health of your company?

(A) The Item Listing report

(B) The Payroll Summary report

(D) The Balance Sheet report

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