Find newly established payroll account

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Reference no: EM133197537

1. Your client's payroll account has been placed on hold due to insufficient or uncollected funds. 

How many days will their account be on hold after an NSF occurs? 

a. 1 day

b. 3 days

c. 5 days

d. 7 days

2. What is the standard direct deposit limit for a newly established payroll account?

a. $20,000 per payroll with $80,000 monthly limit

b. $100,000 per payroll with $400,000 monthly limit

c. $50,000 per payroll with $200,000 monthly limit

d. There is no one standard limit; each employer has their own direct deposit limit that they can see in Payroll Settings

3. Joe shop successfully went to Gear > Payroll Settings > Bank accounts > Edit to change the bank account to a new account. When the next payroll was run, it was still showing in QuickBooks Online as posting to the old account. 

What mistake did they make?

a. They didn't select "Update all settings" in the Accounting preferences

b. They didn't update Accounting preferences to map to the new bank account

c. They disconnected the new bank account from the bank feed

d. They made the old account inactive in the chart of accounts

Reference no: EM133197537

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