Chapter 2B, Summary - Sage 50

Question 1

Deposit

Answer 1

Enter a deposit when you receive a partial payment with the Sales Order.

Journal/ Ledger: Receipts

Question 2

Cash Sale

Answer 2

Select Transactions: Invoice & Payment Method: with Customer: , or type the customer’s name and click Continue.

Journal/ Ledger: Sales

Question 3

Credit Card Sale

Answer 3

Select Transaction: Invoice, and choose the Credit Card in the Payment Method: drop down box.

Journal/ Ledger: Sales

Question 4

NSF

Answer 4

Enter a revised invoice or new invoice for the original cheque (plus bank charges) with no taxes. Select the Cash in Bank account (not Sales).

Journal/ Ledger: Sales

Question 5

Write-off

Answer 5

Enter write-off as a minus amount with HST.

Journal/ Ledger: Sales

Question 6

Post-dated cheques

Answer 6

The post-dated entry (debit Bank, credit Accounts Receivable) will not appear in reports until the date the cheque is deposited.

Journal/ Ledger: Receipts

Question 7

Revise an Invoice

Answer 7

Use Lookup to find the original invoice & adjust with the corrected amounts.

Question 8

Service Invoice

Answer 8

Enter a Service inventory invoice, with HST