1. Link each description below to its Financial Report name in the Block.
A list of closing balances of ledger accounts on a certain date. The first step towards the preparation of financial statements. Is prepared at the end of the accounting period.
2. Link each description below to its Financial Report name in the Block.
Shows the company’s revenues and expenses during a particular financial period. Indicates how the revenues are transformed into the net income.
3. Link each description below to its Financial Report name in the Block.
Presents a company’s financial position at the end of a specified date. Shows what a company owns and what the company owes to other parties as of the date indicated in the heading
4. Link each description below to its Financial Report name in the Block.
Details transactions for the general ledger accounts.
5. Link each description below to its Financial Report name in the Block.
Prints a report of general ledger transactions in the sequence in which the system processed them. Report groups transactions posted together.
6. Link each description below to its Financial Report name in the Block.
Shows the current year and last year actual balances and the current, last year and future budget values.
7. Link each description below to its Financial Report name in the Block.
Shows the accrued amount of sales tax, VAT or GST that is receivable or due to tax authorities. Upon tax audit you can see the detailed transactions.
8. Link each description below to its Financial Report name in the Block.
Shows all electronic Tax documents that have been emailed to customers.
9. Link each description below to its Financial Report name in the Block.
Shows General Ledger Balances showing cumulative balances. Balances that have been combined together.
10. Link each description below to its Financial Report name in the Block.
Shows chart of accounts. The chart of accounts is a list of all of the accounts used by your business. These accounts are known as nominal ledger accounts.
11. You have allocated a payment incorrectly by crediting one customer instead of the other. What should you do to correct this allocation
12. When processing an R/D payment it is enterd as a negative receipt so that the bank account is correctly updated and so that the customer list in available. TRUE OR FALSE
13. When correcting a Return to Drawer Cheque, you have to correct it in the Cash Book. TRUE OR FALSE
14. Choose the correct option below to view a Trial Balance.
15. If you customise your Sage Pastel Partner V18 Explorer, anyone who uses your computrer but logs in with their own username and password will see your cuctomised screen. TRUE OR FALSE
16. Name two (2) Customer documents that never update into your accounting system. Select YES in your corresponding choice.
17. You can create a folder to back-up to while you are in the backup procedure. TRUE OR FALSE
18. You can integrate your inventory into your general ledger but will first need to create new general ledger accounts for each of the inventory items. TRUE OR FALSE
19. You must create a cash transfer account before transferring cash between accounts? TRUE OR FALSE
20. You can post directly to your supplier or customer control account in Pastel Partner V14. TRUE OR FALSE