Sage50 Accounts Flashcards
1
Q
How is the View changed?
A
There are two ways:
One is by clicking Change View on the top-right corner and choosing a different view (Customers/Suppliers).
The other is by using the Links section on the left side of the screen (customer list/supplier list).
2
Q
What is the default view?
A
Customer/Supplier Process
3
Q
Where are the different navigation groups?
A
In the list at the bottom-left corner of the screen.
4
Q
Where is the toolbar for each navigation group located?
A
At the immediate top of the navigation pane.
5
Q
How is information about the company changed?
A
Settings
6
Q
How is the financial year changed?
A
settings
7
Q
How is the program date changed?
A
settings
8
Q
How are customer details entered?
A
customer navigation pane
OR
9
Q
What will appear when you click the New Customer button?
A
The Customer Record Wizard
10
Q
How are terms agreed set has default for all customers/suppliers?
A
settings
##customer/supplier defaults
Select terms agree box
11
Q
What is the alternative (to new … wizard) of entering details into the system?
A
#links ##...list ###record (on the toolbar)
12
Q
How is the program restored to your saved files?
A
File
13
Q
Where is the Layout modifier on the Company navigation group?
A
Top-right
14
Q
Where is the button that unselects all members of the list in the Company navigation group? What is it called?
A
Is the third button from the left at the bottom of the navigation panel and it’s called Clear
15
Q
How is a Trial Balance carried out?
A
links
In the Company navigation group:
16
Q
How are budget preferences set?
A
Settings
17
Q
How many default Nominal Account Categories are there?
A
9
18
Q
What view in the Nominal Ledger is used to gain an overview of the business?
A
Analyser view
19
Q
Why is it beneficial to use the Graph layout in the Nominal Ledger?
A
To display accounts data visually to aid understanding
20
Q
In which Sage window is the Trial button found?
A
Financials
21
Q
What is the Trial Balance?
A
A list of all Nominal Ledger accounts at a specific date.
22
Q
How are Adjustments In made?
A
Products navigation group
23
Q
What are Adjustments In for?
A
To record stock increase/receipt (due to purchase or otherwise)
24
Q
How are Purchase invoices recorded?
A
suppliers
Batch Invoice (in the supplier process view)
25
How many types of purchase invoice are relevant in Sage?
Invoice for tangible goods and invoices for services (rates, rent, electricity, etc.)
26
What should you do when you've entered invoices as batch?
Total them yourself and crosscheck with the program.
27
What is the typical format of the Purchase order number for services?
The is no purchase order number for service invoices but it is good practice to order them numerically for ease of identification.
28
How are corrections made when errors are made?
#file
##maintenance
Select item
#edit item (On toolbar)
##edit
Change Net (for example)
29
Explain the following function key:
F1
Displays help relating to the particular window.
30
Explain the following function key:
F2
Displays a calculator which can be used with the mouse
31
Explain the following function key:
F3
Displays the Edit Item Line window when entering an invoice
32
Explain the following function key:
F4
Shortcut to calendar, calculator or record list (when the cursor is in the A/C box in customer records)
33
Explain the following function key:
F5
Activates a currency calculator when in a numeric box
Or
A spell checker when in a text box
34
Explain the following function key:
F6
Copies data from the box above
35
Explain the following function key:
Shift + F6
Increments the last digit in the box above by one number
36
Explain the following function key:
F7
Inserts a blank row in a list
37
Explain the following function key:
F8
Deletes a row
38
Explain the following function key:
F9
Used to calculate the net amount from any gross taxed values
39
Explain the following function key:
F11
Displays the Windows control panel
40
Explain the following function key:
F12
Displays the Report Designer
41
The Nominal Codes from 4000 to 4999 are for:
Sales
42
The Nominal Codes from 5000 to 5999 are for:
Purchases
43
The Nominal Codes from 6000 to 6999 are for:
Direct Expenses
44
The Nominal Codes from 7000 to 9999 are for:
Overheads
45
The Nominal Codes from 0001 to 0999 are for:
Fixed assets
46
The Nominal Codes from 1000 to 1999 are for:
Current assets
47
The Nominal Codes from 2000 to 2299 are for:
Current Liabilities
48
The Nominal Codes from 2300 to 2999 are for:
Long term liabilities
49
The Nominal Codes from 300 to 3999 are for:
Capital & Reserves
50
How are invoices produced?
#Customer navigation group
@Customer Process
#New Invoice
51
How to access invoices?
#Customer navigation group
@Links
#Invoice List
52
How are invoices printed?
#Customer navigation group
@Invoice List
#Swap(to select all invoices)
##Print Button
@report browser
#INVPRC11 (workbook option)
##preview
###print
53
How are invoices posted?
#Customer navigation group
@Links
#invoice list
##swap
###update button
@Update Ledgers box
###ok when preview is selected
54
How are letters to customers sent?
#Customer navigation group
@Tasks
#Chase Debt
Select customer
#Letters
@Report Browser
#Letters
Choose format
@ preview
#Print or email
55
How to check communications with a customer?
#Customer navigation group
Select customer
#Record
##Communications
56
How are new products added to the "portfolio" of the company?
#Products navigation group
#New button
@Product Record Wizard
#Next
Create product information
57
What are Customer Receipts?
Receipts from customers in settlement of sales invoices.
58
What are Bank receipts?
Receipts for non-invoiced items.
59
How are Customer receipts entered?
#Customer navigation group
##Receive Payment Button (the upper one)
@Customer Receipt - Bank Current Account
Choose Account @Customer Details #Account
Then
Choose date of receipt @Receipt Details #Amount
And
Enter reference.
___
If the payment is correspondent to the total amount owed by the customer:
#Pay in Full
But if a mistake is made and you wish to make changes to any information entered:
#Discard.
60
How are Bank Receipts entered?
#Bank navigation group
##Receipts
@Bank Receipts
Enter details of payments
___
If Vat is discerned in the payment, do not forget to use the "Calc. Net" button.
61
What is the Current Bank Account Nominal Code?
1200
62
What is the Petty Cash Account Nominal Code?
1230
63
What is the Travelling Account Nominal Code?
7400
64
How are statements produced?
@Customer list
Select all customers
#Statement
65
How are customer reports accessed?
@Customers Navigation pane
Clear all selections
#reports
##Aged Debtors
Aged Debtors analysis
66
In the Aged Debtors Analysis (Detailed), what is the meaning of the different periods?
Current = under 30 days due
Period 1 = 30 days overdue
Period 2 = 60 days overdue
Period 3 = 90 days
overdue
Older = more than 90 days overdue
67
Where is the Diary Button
Lower left of the screen
| Bellow Projects
68
How can the Dashboard be accessed?
#Change View
##...Dashboard
69
What types of payments are there?
Supplier payments and Bank payments.
70
What are supplier payments?
Payments for invoiced items.
71
What are Bank payments?
Payments for non-invoiced items.
72
How are Supplier payments made?
@Supplier Navigation Pane
#Pay Supplier (on the upper thread)
@Supplier Payment - Bank Current Account
#Payee (choose payee)
Enter payment details
73
How are remittance advises produced?
@Bank navigation pane
#remittance
74
How are Bank payments made?
@Bank navigation pane
Select Current Account
#Payment
@Bank Payments
75
What is the Advertisement Account Nominal Code?
6201
76
What is the Net Wages Account Nominal Code?
2220
77
What is the Vat liability Account Nominal Code?
2202
78
What is the Postage and Carriage Account Nominal Code?
7501
79
What is the Fuel and Petrol Account Nominal Code?
7300
80
What is the Office Stationery Account Nominal Code?
7504
81
What is the Refreshments Account Nominal Code?
8205
82
What is the Miscellaneous Expenses Account Nominal Code?
6900
83
How is the Petty Cash restored?
@Bank navigation pane
Select Bank Current Account
#Transfer
@Bank Transfer
Account from : 1200
Account to : 1230
Reference = Cheque number
Description = Restore petty cash
84
How are journal entries made?
@Company navigation pane
#Journals
@Nominal Ledger Journals
Enter reference
Enter details
85
What is the Staff Salaries Account Nominal Code?
7003
86
What is the Employer's N.I. Account Nominal Code?
7006
87
What is the PAYE Account Nominal Code?
2210
88
Name and state wether this code is a Debit or Credit entry on the Journal:
7000
Gross Wages
Debit
89
Name and state wether this code is a Debit or Credit entry on the Journal:
7006
Employer's N.I.
Debit
90
Name and state wether this code is a Debit or Credit entry on the Journal:
2220
Net wages
Credit
91
Name and state wether this code is a Debit or Credit entry on the Journal:
2210
PAYE
Credit
92
Name and state wether this code is a Debit or Credit entry on the Journal:
2211
National Insurance (employee)
Credit
93
Name and state wether this code is a Debit or Credit entry on the Journal:
2214
Student Loans
Credit
94
Name and state wether this code is a Debit or Credit entry on the Journal:
2215
Attachments
Credit
95
Name and state wether this code is a Debit or Credit entry on the Journal:
2216
Deductions
Credit
96
Name and state wether this code is a Debit or Credit entry on the Journal:
2230
Pension
Credit
97
7007
Employer's Pension
Debit
98
Name and state wether this code is a Debit or Credit entry on the Journal:
7010
SSP Reclaimed
Credit
99
Name and state wether this code is a Debit or Credit entry on the Journal:
7011
SMP Reclaimed
Credit
100
Name and state wether this code is a Debit or Credit entry on the Journal:
2211
National Insurance
Debit
101
How are Bank reconciliations made?
#Bank navigation pane
##Current Account
###Reconcile Button on the toolbar
@Statement Summary
Enter reference
Enter Statement Date
Enter the Ending Balance showing on the bank statement
Enter any account charges or interest earned
Press OK.
@Bank Reconciliation
Match the entries on the bank statement with the entries on the Sage program. Thick the bank statement for every entry matched.
102
@Bank Reconciliation
What is the functions of the Find button?
To find entries by different criteria.
103
@Bank Reconciliation
What is the function of the Adjust button?
To adjust the statement according to the type of receipt or payment needed.
104
@Bank Reconciliation
How is the process finalised?
#Reconcile on bottom left.
@Links
#Statement
##Preview
@Criteria for Bank Statement
Enter the date range of the statement
105
How is the Audit Trail done?
@Nominal Ledger
@Links
#Financials
##Audit
###Summary (for example)
Continue...
106
@Batch Supplier Invoices, what do you enter in the following fields:
Ref;
Ex.Ref;
Details.
Ref: Order Number
Ex.Ref: Supplier Invoice number
Details: quantity*product code
107
How do you use the Memorise-Recall functions?
When information is shown for batch entries, Memorise will create a document that can be Recalled at a later time.
108
What is the assumption when giving settlement discounts?
That the customer will take the discount.
109
How are settlements applied to invoices?
@Customer list
#customer
#credit control
In Settlement Due: enter number of days
In Sett. Discount: enter the percentage discount.
110
How are invoices printed and posted?
@invoice list
Select invoices
#print
Then
#update
111
How are Credit Notes created?
@customers
@tasks
#New Credit
Same procedure as invoice.
112
How are Purchase Credit Notes entered?
@suppliers
#Credit
Enter details of the Credit Notes received.
113
How are goods returned to suppliers entered into the system?
@products
Select product
#out
Enter details of returned goods
114
What is the procedure when a customer overplays the amount of an invoice?
It is assumed that a mistake was made and the surplus can be used to make a payment on account.
115
If there is still an invoiced amount outstanding on an account which was overpaid, how are the surplus funds allocated to the outstanding invoice?
@Customer process
@Customer Receipt - Bank Current Account
Enter the date of the payment
Enter the Paying In Slip number as the Reference.
#Wizard
116
How to enter a customer receipt with Settlement Discount?
@Customer Receipt -Bank Current Account
Enter the date
Enter the amount actually paid (as opposed to the amount showing as outstanding)
Enter the reference
Again, enter the amount actually paid and in the next cell enter the amount discounted.
117
How are Bank receipts processed?
@Bank Navigation Pane
Select Bank Current account
#Receipt
118
How are recurring entries set up?
@Bank Navigation pane
#Recurring
@Recurrin entro
119
How are prepayments entered in the journal?
The amount prepaid is debited and the same amount is credited to the corresponding expenses account.
120
How are accruals entered in the journal?
The corresponding expenses account is debited and the accruals account is credited.
121
How are restricted users added?
#Settings
##Acces Rights
122
How are combined products created?
First, the individual components of the combined product must be registered as products themselves.
Then use the same procedure as if a new product was being created by using the New Button.
After this, in the list of products, click on the newly created product and then bring the BOM window uppermost.
Set up the BOM.
123
What is a Bill Of Materials (BOM)?
Is the list of the individual items that make up the combined product
124
What is Link Level?
The number of BOM lists to which a given product belongs.
125
How is stock allocated to combined products?
@Products
Select product
#Transfer
126
How are price lists set?
@Products
#Prices
@Edit Price List
Select which products and the amount of discount.
Select which Customers will get the discount.
127
How are Sales orders created?
@Products navigation pane
#New Sales Order
Enter date and customer A/C
Enter product and quantity
128
What has to be done after a sales order has been created?
The required stock must be allocated to the order.
129
How is stock allocated to a sales order?
#Modules
##Sales Order Processing
Select the order
#Allocate
Select order
#Dispatch
130
How are invoices for sales orders accessed ?
#Modules
##Invoicing
131
How are invoices printed and posted through the Product Invoice window?
#print
132
How are addresses changed as needed?
@customers
#New Sales Order
#Order Details
@Delivery Address
#Change
133
How are carriage charges added?
@Customers
#New sales order
#Footer Details
Enter details
134
How is stock unallocated?
Select the sales order
#Amend
##Off Order
Select option
135
How are Purchase Orders created?
@Suppliers Process
#New Purchase Order
Enter details
Enter extra charges (such as carriage) @Footer Details
#Modules
##Purchase Order Processing
136
If the company wants a product to be delivered straight from its supplier to its customer, how is it done?
@Product Purchase Order
@Order Details
In Show, select Customer Addresses
Select customer
137
How are orders marked as part-delivered?
Select order
#Amend
138
How to cancel Purchase Orders?
#Amend
Off Order
139
How is VAT processed?
@Company
@Tasks
#Manage Vat
#VAT Return
Enter dates
#Reconcile
140
How are the sales and purchases accounts cleared of VAT?
@Company
@Tasks
#VAT transfer wizard
141
How are year-end Trial balances printed?
Select the month of December (or final month of financial year).
142
How are budgeted figures checked?
@Company
@Links
#Nominal Ledger
##Record
Enter Nominal code to be compared
143
How is the program backed up prior to Year End?
#File
##Backup
144
How is the Year End carried out?
```
#Tools
Period end
```
#Year End
