Which report gives the current state of each nominal account that has been used.

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The Profit and Loss report shows how much it owes its suppliers.

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The Balance Sheet report shows whether a company is making profits.

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The audit trail is a complete list of every transaction in your system in the order in which they were made.

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The VAT reconciliation procedure is not reversible.

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When calculating the VAT return, Sage checks for various issues including possible duplications.

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Recurring entries are used to post journal entries.

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If you set up a recurring journal entry, it will automatically set up both a journal credit and a journal debit.

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Petty cash transactions are used to record cash payments and receipts.

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Journal entries are most often used to enter transactions that cannot be recorded.

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Aged debtors analysis lets you analyse each customer’s account in more detail.

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You can raise a credit note independently or can create a customer credit note directly from an invoice and allocate it to that invoice as a Sales Credit type transaction.

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Product invoices are not similar to Service invoices, the products you are selling are not taken from stock.

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Product invoices are not used when you sell non-stock items and services that you have set up in the Products and services module.

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Stock Control is used to update the amount of stock for each stock item you have.

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When you invoice from stock, items sold are subtracted from the stock levels.

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The Returns window is used to record when a customer has returned a damaged item to you.

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The Damages In option can affect stock levels.

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Sage 50 Accounts allows you to track stock history or hold stock levels for a non-stock or service item.

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The Format list box allows you to choose the nominal code
for a sale.

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Service invoices are invoices that leave you free to enter the details of any services and products that you have supplied to your customers.

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The Trial Balance tells you if your company is making money, or losing money.

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The Balance Sheet shows the current state of all the account numbers.

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The Bank Payments window allows you to record payments that do not relate to a purchase invoice that you have entered.

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Use the Supplier Payment window to record payments relating to purchase invoices that you have already entered

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Double-entry book-keeping means that every transaction has both a debit side and a credit side, with the amounts matching.

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You are required by law to keep proper accounting records.

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The Sage Accounts Backup Manager does not automatically schedule backups, this must be completed manually.

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Using your computer keyboard, how can you open the Suppliers accounts module.

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When your customers pay you, receipts are recorded in which of the following windows.

Select the correct choice below.