Chapter 3

Some advantages of sage 50 over manual

Built in Controls and ease of generating reports. All information is needed before you can post and debits and credits must be equal for reduced chances of making mistakes over manual

What is customizing a report? why do you do it? how do you do it?

Customizing a report is whenever you change the default settings. You do it to show relevant information to your presentation You do it by displaying the report and click Modify Report Tool and the Report Centre will help you select the report for you

purpose of the display tool in the home window tool bar

Display tool in the classic view accesses lists and journal reports directly when a ledger or journal icon is selected

What are drill down reports? How do you access? What info do they give?

Drill-down report are additional reports that you see from an open report window and they usually provide more detail about part of the report

Creating a New General Ledger Account

Go to Any Account Field>Select Account Screen>Click Add New Account>Click Create to Start Account Wizard

Sage 50 Journal Entry vs Manual

In sage 50 you must have the source information and debit and credit must match. The manual system has no limitation and control and can record any entry

Difference between posting date vs session date

Posting date is the actual date the transaction occurred and the session date is the date the transaction are entered into the program

How is accessing reports from the report centre different from the reports menu?

Reports menu always opens the report option window before displaying report Report Centre shows a sample of the report and a description as you select the report

How Sage 50 provide an audit trail

Sage 50 doesn't allow entries to be deleted but requires you to correct the journal entries and both the incorrect and correct entries will be kept

What date appears as the default in Journals? In reports?

The default date in journals is the session date. In reports the fiscal start and session date as the start and end dates

Limits on entering new session dates? On Entering Transaction Dates

You can advance the session date to the first date of the next fiscal period and move session date to the earliest transaction date

Different ways to add the account number

You can type the number directly in Account Field OR You can find he number in the Select Account List (Click List in Account Field and double click Account Field find the number and click select button)

Why would you advance weekly instead of monthly?

advancing by smaller increments helps to avoid entering an incorrect transaction date for an entry

If you enter a date as 02-02-12 what date will you see

the date you will see depends on the date format you selected

What is a session Date

the date your are entering transactions