Sage50 Accounts Flashcards
How is the View changed?
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).
What is the default view?
Customer/Supplier Process
Where are the different navigation groups?
In the list at the bottom-left corner of the screen.
Where is the toolbar for each navigation group located?
At the immediate top of the navigation pane.
How is information about the company changed?
Settings
How is the financial year changed?
settings
How is the program date changed?
settings
How are customer details entered?
customer navigation pane
OR
What will appear when you click the New Customer button?
The Customer Record Wizard
How are terms agreed set has default for all customers/suppliers?
settings
##customer/supplier defaults
Select terms agree box
What is the alternative (to new … wizard) of entering details into the system?
#links ##...list ###record (on the toolbar)
How is the program restored to your saved files?
File
Where is the Layout modifier on the Company navigation group?
Top-right
Where is the button that unselects all members of the list in the Company navigation group? What is it called?
Is the third button from the left at the bottom of the navigation panel and it’s called Clear
How is a Trial Balance carried out?
links
In the Company navigation group:
How are budget preferences set?
Settings
How many default Nominal Account Categories are there?
9
What view in the Nominal Ledger is used to gain an overview of the business?
Analyser view
Why is it beneficial to use the Graph layout in the Nominal Ledger?
To display accounts data visually to aid understanding
In which Sage window is the Trial button found?
Financials
What is the Trial Balance?
A list of all Nominal Ledger accounts at a specific date.
How are Adjustments In made?
Products navigation group
What are Adjustments In for?
To record stock increase/receipt (due to purchase or otherwise)
How are Purchase invoices recorded?
suppliers
Batch Invoice (in the supplier process view)
How many types of purchase invoice are relevant in Sage?
Invoice for tangible goods and invoices for services (rates, rent, electricity, etc.)
What should you do when you’ve entered invoices as batch?
Total them yourself and crosscheck with the program.
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.
How are corrections made when errors are made?
file
Select item
Change Net (for example)
Explain the following function key:
F1
Displays help relating to the particular window.
Explain the following function key:
F2
Displays a calculator which can be used with the mouse
Explain the following function key:
F3
Displays the Edit Item Line window when entering an invoice
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)
Explain the following function key:
F5
Activates a currency calculator when in a numeric box
Or
A spell checker when in a text box
Explain the following function key:
F6
Copies data from the box above
Explain the following function key:
Shift + F6
Increments the last digit in the box above by one number
Explain the following function key:
F7
Inserts a blank row in a list
Explain the following function key:
F8
Deletes a row
Explain the following function key:
F9
Used to calculate the net amount from any gross taxed values
Explain the following function key:
F11
Displays the Windows control panel
Explain the following function key:
F12
Displays the Report Designer
The Nominal Codes from 4000 to 4999 are for:
Sales
The Nominal Codes from 5000 to 5999 are for:
Purchases
The Nominal Codes from 6000 to 6999 are for:
Direct Expenses
The Nominal Codes from 7000 to 9999 are for:
Overheads
The Nominal Codes from 0001 to 0999 are for:
Fixed assets
The Nominal Codes from 1000 to 1999 are for:
Current assets
The Nominal Codes from 2000 to 2299 are for:
Current Liabilities
The Nominal Codes from 2300 to 2999 are for:
Long term liabilities
The Nominal Codes from 300 to 3999 are for:
Capital & Reserves
How are invoices produced?
Customer navigation group
@Customer Process
How to access invoices?
Customer navigation group
@Links
How are invoices printed?
Customer navigation group
@Invoice List
@report browser
How are invoices posted?
Customer navigation group
@Links
@Update Ledgers box
How are letters to customers sent?
Customer navigation group
@Tasks
Select customer
@Report Browser
Choose format
@ preview
How to check communications with a customer?
Customer navigation group
Select customer
How are new products added to the “portfolio” of the company?
Products navigation group
@Product Record Wizard
Create product information
What are Customer Receipts?
Receipts from customers in settlement of sales invoices.
What are Bank receipts?
Receipts for non-invoiced items.
How are Customer receipts entered?
Customer navigation group
@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:
But if a mistake is made and you wish to make changes to any information entered:
How are Bank Receipts entered?
Bank navigation group
@Bank Receipts
Enter details of payments
___
If Vat is discerned in the payment, do not forget to use the “Calc. Net” button.
What is the Current Bank Account Nominal Code?
1200
What is the Petty Cash Account Nominal Code?
1230
What is the Travelling Account Nominal Code?
7400
How are statements produced?
Statement
@Customer list
Select all customers
How are customer reports accessed?
reports
@Customers Navigation pane
Clear all selections
Aged Debtors analysis
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
Where is the Diary Button
Lower left of the screen
Bellow Projects
How can the Dashboard be accessed?
Change View
What types of payments are there?
Supplier payments and Bank payments.
What are supplier payments?
Payments for invoiced items.
What are Bank payments?
Payments for non-invoiced items.
How are Supplier payments made?
Pay Supplier (on the upper thread)
@Supplier Navigation Pane
@Supplier Payment - Bank Current Account
Enter payment details
How are remittance advises produced?
remittance
@Bank navigation pane
How are Bank payments made?
Payment
@Bank navigation pane
Select Current Account
@Bank Payments
What is the Advertisement Account Nominal Code?
6201
What is the Net Wages Account Nominal Code?
2220
What is the Vat liability Account Nominal Code?
2202
What is the Postage and Carriage Account Nominal Code?
7501
What is the Fuel and Petrol Account Nominal Code?
7300
What is the Office Stationery Account Nominal Code?
7504
What is the Refreshments Account Nominal Code?
8205
What is the Miscellaneous Expenses Account Nominal Code?
6900
How is the Petty Cash restored?
Transfer
@Bank navigation pane
Select Bank Current Account
@Bank Transfer
Account from : 1200
Account to : 1230
Reference = Cheque number
Description = Restore petty cash
How are journal entries made?
Journals
@Company navigation pane
@Nominal Ledger Journals
Enter reference
Enter details
What is the Staff Salaries Account Nominal Code?
7003
What is the Employer’s N.I. Account Nominal Code?
7006
What is the PAYE Account Nominal Code?
2210
Name and state wether this code is a Debit or Credit entry on the Journal:
7000
Gross Wages
Debit
Name and state wether this code is a Debit or Credit entry on the Journal:
7006
Employer’s N.I.
Debit
Name and state wether this code is a Debit or Credit entry on the Journal:
2220
Net wages
Credit
Name and state wether this code is a Debit or Credit entry on the Journal:
2210
PAYE
Credit
Name and state wether this code is a Debit or Credit entry on the Journal:
2211
National Insurance (employee)
Credit
Name and state wether this code is a Debit or Credit entry on the Journal:
2214
Student Loans
Credit
Name and state wether this code is a Debit or Credit entry on the Journal:
2215
Attachments
Credit
Name and state wether this code is a Debit or Credit entry on the Journal:
2216
Deductions
Credit
Name and state wether this code is a Debit or Credit entry on the Journal:
2230
Pension
Credit
7007
Employer’s Pension
Debit
Name and state wether this code is a Debit or Credit entry on the Journal:
7010
SSP Reclaimed
Credit
Name and state wether this code is a Debit or Credit entry on the Journal:
7011
SMP Reclaimed
Credit
Name and state wether this code is a Debit or Credit entry on the Journal:
2211
National Insurance
Debit
How are Bank reconciliations made?
Bank navigation pane
@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.
@Bank Reconciliation
What is the functions of the Find button?
To find entries by different criteria.
@Bank Reconciliation
What is the function of the Adjust button?
To adjust the statement according to the type of receipt or payment needed.
@Bank Reconciliation
How is the process finalised?
Reconcile on bottom left.
@Links
@Criteria for Bank Statement
Enter the date range of the statement
How is the Audit Trail done?
Financials
@Nominal Ledger
@Links
Continue…
@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
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.
What is the assumption when giving settlement discounts?
That the customer will take the discount.
How are settlements applied to invoices?
customer
@Customer list
In Settlement Due: enter number of days
In Sett. Discount: enter the percentage discount.
How are invoices printed and posted?
@invoice list
Select invoices
Then
How are Credit Notes created?
New Credit
@customers
@tasks
Same procedure as invoice.
How are Purchase Credit Notes entered?
Credit
@suppliers
Enter details of the Credit Notes received.
How are goods returned to suppliers entered into the system?
out
@products
Select product
Enter details of returned goods
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.
If there is still an invoiced amount outstanding on an account which was overpaid, how are the surplus funds allocated to the outstanding invoice?
Wizard
@Customer process
@Customer Receipt - Bank Current Account
Enter the date of the payment
Enter the Paying In Slip number as the Reference.
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.
How are Bank receipts processed?
Receipt
@Bank Navigation Pane
Select Bank Current account
How are recurring entries set up?
Recurring
@Bank Navigation pane
@Recurrin entro
How are prepayments entered in the journal?
The amount prepaid is debited and the same amount is credited to the corresponding expenses account.
How are accruals entered in the journal?
The corresponding expenses account is debited and the accruals account is credited.
How are restricted users added?
Settings
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.
What is a Bill Of Materials (BOM)?
Is the list of the individual items that make up the combined product
What is Link Level?
The number of BOM lists to which a given product belongs.
How is stock allocated to combined products?
Transfer
@Products
Select product
How are price lists set?
Prices
@Products
@Edit Price List
Select which products and the amount of discount.
Select which Customers will get the discount.
How are Sales orders created?
New Sales Order
@Products navigation pane
Enter date and customer A/C
Enter product and quantity
What has to be done after a sales order has been created?
The required stock must be allocated to the order.
How is stock allocated to a sales order?
Modules
Select the order
Select order
How are invoices for sales orders accessed ?
Modules
How are invoices printed and posted through the Product Invoice window?
How are addresses changed as needed?
New Sales Order
@customers
@Delivery Address
How are carriage charges added?
New sales order
@Customers
Enter details
How is stock unallocated?
Amend
Select the sales order
Select option
How are Purchase Orders created?
New Purchase Order
@Suppliers Process
Enter details
Enter extra charges (such as carriage) @Footer Details
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
How are orders marked as part-delivered?
Amend
Select order
How to cancel Purchase Orders?
Amend
Off Order
How is VAT processed?
Manage Vat
@Company
@Tasks
Enter dates
How are the sales and purchases accounts cleared of VAT?
VAT transfer wizard
@Company
@Tasks
How are year-end Trial balances printed?
Select the month of December (or final month of financial year).
How are budgeted figures checked?
Nominal Ledger
@Company
@Links
Enter Nominal code to be compared
How is the program backed up prior to Year End?
File
How is the Year End carried out?
Year End
#Tools Period end
