Chapter 2A, Basics - Sage50 Flashcards
Revenue Account
When you use the Perpetual Inventory System, the default Revenue account will be received from the inventory item.
The Revenue account will display in Sales Quotes, Orders, or Invoice window for non-inventory items.
Price List
Sage 50 Accounting Premium supports 100 different price lists.
Usually Ship Item from
This field would indicate where the merchandise is being shipped.
Conduct Business in
This field indicates the ability to have screen displays & printouts in French for the customer.
Standard Discount
This field would indicate the discount that would apply to each item the customer buys.
(-not to be confused with a cash discount)
Early Payment Terms
When customers are given time to pay for the goods or services they purchase, it is called purchasing goods on credit.
The time is normally 30 days.
Default Payment Method
The method this customer is expected to pay for their invoices.
For Receipts
Click the down arrow to view the choices a customer may pay for their invoices.
Select Cheque.
Produce Statements for this Customer
Do NOT change.
A check mark in the box will allow you to print or email a summary statement to be sent to a customer.
Forms for this Customer
Click the down arrow.
There are two choices:
Unit
The field can be changed or left as the default.
Description
The field can be changed or left as the default.
Base Price
The price can be changed or left as the default.
Price
This field would be the individual price after a discount is given
Amount
This field represents the calculated amount form fields Quantity times Price.
