QuickBooks Online

Advanced Certification
Exam Prep Training
Module 2:
Advanced Features

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Agenda

MODULE 1: Advanced Categorization

MODULE 2: Advanced Features
MODULE 3: Advanced Banking
MODULE 4: Advanced Reports
MODULE 5: Inventory Management
MODULE 6: Sales Tax
MODULE 7: Special Transactions
MODULE 8: Multicurrency
MODULE 9: End-of-period activities
MODULE 10: Complex Conversions

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Additional Resources

QuickBooks Accountant Training: Firm Of The Future Blog: Intuit Marketing Hub:
qbtrainingevents.com firmofthefuture.com http://intuit.me/hub

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CPE Process

In order to receive CPE credit in each training session, you must:

• Be present for a minimum of 50 minutes to earn 1 CPE credit.

• Respond to 75% of the checkpoints during each session
• Answer 1 polling question per hour during each session
• If all requirements are met, your CPE appears in your USER PROFILE in the virtual conference
within 24 hours. And, you will receive an email with your CPE attached from:
[email protected] (please add to your approved contacts)
• If you only meet the above requirements in part, your CPE will be processed manually. Your
certificate will be emailed to you within 2 weeks following the close of the event.
• Example, 2-hour training session, you only attend 1-hour and meet all other requirements
during that hour. You will receive partial credit.

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Exam Prerequisites

Member of QuickBooks ProAdvisor Program

QuickBooks Online Certified
Proficient with accounting principles
Have hands-on experience using QuickBooks Online Accountant and supporting
QuickBooks Online clients.
Have deep product knowledge and/or experience with client engagements using
QuickBooks Online

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Exam Candidate Expectations and Things to Know

Understand advanced topics

Comprehend training material
Ability to work through scenario-based questions
Draw on your expertise and trusted advisor role
No CPE for exam itself. However, live training is eligible for CPE.
Exam may be completed in any order
Multiple-choice questions may contain one or more correct answer(s)

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How to Access Training & Exam

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QuickBooks Online Advanced Certification

5 Sections
Multiple choice, submit each section, then submit
all sections for grading; 80% or better each section
to pass
Only need to re-take sections not passed
3 Attempts to pass; 60-day lockout after 3
successive not pass attempts

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Recertification and Leveling Up

Once certified, you can also continue your journey with a range of additional courses
that will add to your knowledge and impress clients.
– ProAdvisor additional courses: Visit www.qbtrainingevents.com
– ProAdvisor certification badges:

Recertify every year between April to June 30 on what’s new in QuickBooks Online to
maintain core and advanced certification status for another year.
Gain Advanced Certification between 11/1/20 to 10/31/21 – recertify by June 30, 2022

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QuickBooks Online
Advanced Certification
Exam Prep Training
MODULE 2: Advanced Features

Intuit Confidential and Proprietary

Module 2: Advanced Features

LEARNING OBJECTIVES

In this module, you’ll learn how to:

Define a billable expense and the features
of QuickBooks Online that facilitate their
management and tracking

Identify best practices when working with

billable expenses in QuickBooks Online
Recognize when and how to utilize
QuickBooks Online to set up, record and
invoice billable time
Identify how to run reports showing billable
time
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Module 2: Advanced Features

LEARNING OBJECTIVES

In this module, you’ll learn how to:

Recognize when and how to utilize delayed

charges and credits
Identify process for identifying unbilled
charges
Recognize how to manually batch-create
and send invoices for unbilled charges
Identify why and how to utilize progress
invoicing

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Module 2: Advanced Features

LEARNING OBJECTIVES

In this module, you’ll learn how to:

Identify how to utilize Price Rules

Recognize how to turn on and configure the
Tips functionality
Recognize the benefits of setting up
budgets
Identify how budgets and budget reports
work in QuickBooks Online

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Module 2: Advanced features

Lesson 1: Billable Expenses

Lesson 2: Billable Time
Lesson 3: Delayed Charges
Lesson 4: Batch Create and Send Invoices
Lesson 5: Progress Invoicing
Lesson 6: Price Rules
Lesson 7: Tips
Lesson 8: Budgeting
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Introduction to Billable Charges

Non-posting transactions
Billable expenses
Billable time
Delayed Charges

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QuickBooks Online
Advanced Certification
Exam Prep Training
MODULE 2: Advanced Features

LESSON 1: Billable Expenses

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Billable Expenses: Setup

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Billable Expenses – Account Limitations

You can use the following account types when marking an expense billable:

• Expense
• Other expense
• Other current liabilities
• Other current assets
• Other assets
• Fixed assets
• Cost of Goods Sold

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Create a Billable Expense

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Add a Billable Expense to an Invoice

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Billable Expenses: Setup – Markup

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Billable Expenses: Using Markup

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Billable Expenses: Using Markup

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Billable Expenses: Using Markup

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Billable Expenses: Setup – Track as Income – Single

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Billable Expenses: Setup – Track as Income – Single

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Billable Expenses: Setup – Track as Income – Single

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Billable Expenses: Setup – Track as Income – Multiple

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Billable Expenses: Setup – Track as Income – Multiple

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Billable Expenses via Item

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Billable Expenses via Item
QuickBooks will
use the income
account
mapped the
item when the
billable expense
is added to an
invoice

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QuickBooks Online
Advanced Certification
Exam Prep Training
MODULE 2: Advanced Features

LESSON 2: Billable Time

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Billable Time

Non-posting transactions
Can enter for employee or vendor
If using QuickBooks Online Payroll, time can flow to the paycheck
Can set up Time-tracking only users in Essentials, Plus, and Advanced

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Billable Time: Setup

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Billable Time

Optionally enter billable rate and taxable status on time activity

You can enter more than 24 hours in a day
QuickBooks shows hours and minutes whether you enter as decimal or enter
start and end time

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Billable Time: Using

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Time Tracking Reports

• Recent/Edited Time Activities

• Time Activities by Customer Detail

• Time Activities by Employee Detail

• Unbilled Time

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QuickBooks Online
Advanced Certification
Exam Prep Training
MODULE 2: Advanced Features

LESSON 3: Delayed Charges

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Delayed Charges

Non-posting transactions
Not prompted by time or purchase
Can be made recurring
No setup required
You can also create delayed credit

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Delayed Charge

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Tracking Billable Charges

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Tracking Billable Charges

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Tracking Billable Charges

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Tracking Billable Charges

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QuickBooks Online
Advanced Certification
Exam Prep Training
MODULE 2: Advanced Features

LESSON 4: Batch Create and Send Invoices

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Batch Create Invoices

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Batch Create Invoices

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Batch Send Invoices

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Batch Send Invoices

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Batch Send Invoices – Report on Sent Invoices

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QuickBooks Online
Advanced Certification
Exam Prep Training
MODULE 2: Advanced Features

LESSON 5: Progress Invoicing

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Progress Invoicing – Setup
Progress invoicing is in all levels of QuickBooks

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Progress Invoicing – Create Estimate

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Progress Invoicing – Create Invoice

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Progress Invoicing – Invoicing

A total of all estimate lines: All the lines are

invoiced at 100% of the estimate

A percentage of each line: All the lines are

invoiced at a percent of the estimate, but you can
edit the line amounts or percent

A custom amount for each line: All lines on the

invoice are shown at 0% but you can edit each line
either by percentage or amount

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Progress Invoicing – Invoice

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Progress Invoicing – Estimate After Invoice

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Other options

• Increase/decrease line amounts

• Increase/decrease the total price

• Add or delete a line

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Add Estimate Summary and Due Info to Emailed Invoice

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Estimates & Progress Invoicing Summary by Customer Report

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QuickBooks Online
Advanced Certification
Exam Prep Training
MODULE 2: Advanced Features

LESSON 6: Price Rules

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When to recommend Price rules

Percentage – increase or decrease the price by a fixed percentage Gold Tier

Ex. VIP membership or a 25% off sale Member

Fixed discount – increase or decrease by a fixed amount

Ex. Promotional offer $100 off for a limited time!

Custom price per item – specific pricing per item LIMITED TIME
Ex. Negotiated pricing SALE!

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Turn on Price Rules

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Customer types

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Assign Customer types to your customers

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Create a price rule

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Create a price rule

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Create a price rule - options

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Create a price rule - options

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Price rules in sales transactions

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QuickBooks Online
Advanced Certification
Exam Prep Training
MODULE 2: Advanced Features

LESSON 7: Tips

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Tips - Setup

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Tips – Changing Tip Account

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Tips – Adding to a Sales Receipt

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Tips – Adding to a Sales Receipt

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QuickBooks Online
Advanced Certification
Exam Prep Training
MODULE 2: Advanced Features

LESSON 8: Budgeting

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Budgeting

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Budgeting – Add

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Budgeting – Add

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Budgeting – Add

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Budgeting – Add

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Budgeting – Reporting

Budget Overview
Filtered for one customer

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Budgeting – Reporting
Budget vs Actual

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Next Steps

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How to Access Training & Exam

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QuickBooks Online Advanced Certification

5 Sections
Multiple choice, submit each section, then submit
all sections for grading; 80% or better each section
to pass
Only need to re-take sections not passed
3 Attempts to pass; 60-day lockout after 3
successive not pass attempts

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