Sage50 Questions and Answers

What is the nominal code for bank account?

• 1000
• 1200
• 1300
• 1400
• 1500

Answer explanation

Nominal code 1000 is used for bank accounts in Sage 50.

Which report shows customer balances?

• Trial Balance
• Aged Debtors
• Profit & Loss
• Nominal List
• Audit Trail

Answer explanation

Aged Debtors report displays outstanding customer balances.

What does the VAT Return feature do?

• Calculates VAT
• Submits VAT
• Prints reports
• All of the above
• None

Answer explanation

It performs all listed tasks related to VAT processing.

What is the purpose of the Audit Trail report?

• Shows deleted entries
• Tracks all transactions
• Lists suppliers
• Displays invoices
• None

Answer explanation

Audit Trail tracks all transactions entered in the system.

Which module is used to record supplier invoices?

• Customers
• Suppliers
• Bank
• Nominal
• Products

Answer explanation

Supplier invoices are recorded in the Suppliers module.

What is the function of the Bank Reconciliation feature?

• Match bank statements
• Print cheques
• Create invoices
• Record payments
• None

Answer explanation

It matches Sage transactions with actual bank statements.

What does the Trial Balance report show?

• Profit & Loss summary
• List of nominal codes
• Balances of all accounts
• VAT summary
• None

Answer explanation

Trial Balance shows balances of all nominal accounts.

Which feature allows recurring transactions to be automated?

• Memorise
• Recurring Entries
• Templates
• Auto Post
• None

Answer explanation

Recurring Entries automates regular transactions.

What is the purpose of the Nominal Ledger?

• Track stock
• Record transactions
• Manage payroll
• Create invoices
• None

Answer explanation

Nominal Ledger records all financial transactions.

Which report helps in identifying overdue customer payments?

• Aged Creditors
• Aged Debtors
• Trial Balance
• Audit Trail
• None

Answer explanation

Aged Debtors highlights overdue customer balances.