Sales Ledger - Introduction Quiz
This is a test to allow you to show us how much basic knowledge you have of the sales ledger
- 1.
A sales ledger is used to......
- A.
Maintain a list of debtors we owe money to
- B.
Maintain a list of suppliers who owe us money
- C.
Maintain a list of customers we owe money to
- D.
Maintain a list of customers who owe us money
Correct Answer
D. Maintain a list of customers who owe us money -
- 2.
I have posted an invoice in the sales ledger against account PIN01. The account total will get smaller.
- A.
True
- B.
False
Correct Answer
B. False -
- 3.
You can have master and transaction sales ledger accounts. Pick the correct relationship between them from the list below.
- A.
A master account can be linked to many transaction accounts
- B.
A transaction account can be linked to many master accounts
- C.
A master account can only be linked to a single transaction account
- D.
The master account and transaction account must have the same account code
Correct Answer
A. A master account can be linked to many transaction accounts -
- 4.
If we were looking for a report to show how much a customer has spent with us this month, this year and last year, which report would we use?
- A.
Transaction Report
- B.
Aged Debt Report
- C.
Turnover Report
- D.
Account Status Report
Correct Answer
C. Turnover Report -
- 5.
Please fill in the blank with the words up or down. When I post a credit note to a customer account in the sales ledger the total against the account goes __________.
Correct Answer
down - 6.
What is the purpose of sending a statement to a sales ledger account customer?
- A.
To advertise current dealership offers
- B.
To issue a summons for unpaid debt
- C.
To advise the customer of outstanding invoices and receipts
- D.
To show the dealership has paid all outstanding invoices for the customer
Correct Answer
C. To advise the customer of outstanding invoices and receipts -
- 7.
Who would you expect to spend most of their working day in the Sales Ledger module?
- A.
Salesman
- B.
Accounts Clerk
- C.
Accounts Director
- D.
Managing Director
Correct Answer
B. Accounts Clerk -
- 8.
The Credits Given report will allow a business to find the value of any credit notes posted across a date range. This is very useful to see if there are any customers who return goods more frequently.
- A.
True
- B.
False
Correct Answer
A. True -
- 9.
The account balance on a sales ledger account is only updated at the end of the day.
- A.
True
- B.
False
Correct Answer
B. False -
- 10.
Which report would you use to send customers a list of the credit notes and outstanding / overdue invoices?
- A.
Allocate cash
- B.
Statements
- C.
Daybook
- D.
Turnover
Correct Answer
B. Statements -
- 11.
What would you use the rep number for against sales ledger accounts?
- A.
It is not used anywhere
- B.
To uniquely identify each account
- C.
To link transaction accounts to master accounts
- D.
To group accounts together when reporting
Correct Answer
D. To group accounts together when reporting -
- 12.
I cannot use the Account Status report to put accounts on stop.
- A.
True
- B.
False
Correct Answer
B. False -
- 13.
Which of the below cannot be used to select an account in the enquiry screen?
- A.
Post Town
- B.
Post Code
- C.
Account Code
- D.
Telephone Number
Correct Answer
A. Post Town -
- 14.
In the screenshot below we have an account enquiry screen. A field name has been removed as highlighted by the red box. Tick the missing field from the list below.
- A.
Account Description
- B.
Account Name
- C.
Account Reference
- D.
Account Code
Correct Answer
D. Account Code -
- 15.
You can control the number of paper invoices which are printed off in parts or workshop by each sales ledger account.
- A.
True
- B.
False
Correct Answer
A. True -
- 16.
Which report would you use to find out which of your account customers owe you money and how long it has been outstanding?
- A.
Aged Debt Report
- B.
Ledger Balance Report
- C.
Transaction Report
- D.
Day Book Report
Correct Answer
A. Aged Debt Report -
- 17.
Select three options from the tick boxes below the tasks you would expect to carry out using the sales ledger.
- A.
Chasing up outstanding debts (not always the easiest part of the job)
- B.
Setting up new clients
- C.
Running off turnover statements
- D.
Making EFT or cheque payments
Correct Answer(s)
A. Chasing up outstanding debts (not always the easiest part of the job)
B. Setting up new clients
C. Running off turnover statements -
- 18.
All customer queried transactions can be marked and reported in a single Queried Transaction Report.
- A.
True
- B.
False
Correct Answer
A. True -
- 19.
A Parts Price of Trade is used for all trade accounts.
- A.
True
- B.
False
Correct Answer
B. False -
- 20.
If you wanted to see what changes were made to all sales ledger accounts over a period, which report would you use?
- A.
Aged Debt
- B.
Transaction
- C.
Amendments Audit
- D.
Queried Transactions
Correct Answer
C. Amendments Audit -
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Current Version
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Aug 28, 2019Quiz Edited by
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Nov 12, 2015Quiz Created by
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