SAGE 50 EXAMINATION TEST 2026 FULL
QUESTIONS AND CORRECT ANSWERS
◉ Why is it so important to ensure that an employee's date of birth in the
Employee record is correct? Answer: To ensure deductions such as
CPP start and end when the employee reaches the appropriate ages
◉ Sage 50 Accounting can also be set up to expense WCB premiums
using calculations based on each employee's paycheque . Answer: True
◉ Recurring transactions may be created for employees who receive a
regular salary, and whose paycheque does not change significantly from
one pay period to the next . Answer: True
◉ What must be done if an error is made on a paycheque? . Answer:
The original cheque should be voided and a new one issued
◉ To adjust a previously posted paycheque, you must click the button in
the Paycheques window . Answer: True
◉ . What is a payroll advance? . Answer: An amount paid to an
employee midway through the pay period.
, ◉ No regular deductions are taken off a Payroll Loan. . Answer: True
◉ Sage 50 Accounting will display in the Payroll Journal any advances
paid to an employee earlier in a pay period . Answer: True
◉ . What report gives details of total amounts paid to an employee
during a specified period? . Answer: The Employee Summary Report
◉ What report gives details of individual paycheques paid to an
employee during a specified period? . Answer: The Employee Detail
Report
◉ How do you ascertain which version of the tax deduction tables is
being used in Sage 50 Accounting? . Answer: In the Home window,
select Help, About Sage 50 Accounting on the menu bar, then click
Support Info.
◉ Voluntary deductions . Answer: pension plan, insurance, medical,
dental and parking.
◉ Deduction rates may change, generally January 1 and July 1 of each
year. Sage 50 Accounting offers a tax table update program to update the
government tax and deduction rate tables whenever they change, and
provides software upgrades as these occur (additional fees apply). .
Answer:
QUESTIONS AND CORRECT ANSWERS
◉ Why is it so important to ensure that an employee's date of birth in the
Employee record is correct? Answer: To ensure deductions such as
CPP start and end when the employee reaches the appropriate ages
◉ Sage 50 Accounting can also be set up to expense WCB premiums
using calculations based on each employee's paycheque . Answer: True
◉ Recurring transactions may be created for employees who receive a
regular salary, and whose paycheque does not change significantly from
one pay period to the next . Answer: True
◉ What must be done if an error is made on a paycheque? . Answer:
The original cheque should be voided and a new one issued
◉ To adjust a previously posted paycheque, you must click the button in
the Paycheques window . Answer: True
◉ . What is a payroll advance? . Answer: An amount paid to an
employee midway through the pay period.
, ◉ No regular deductions are taken off a Payroll Loan. . Answer: True
◉ Sage 50 Accounting will display in the Payroll Journal any advances
paid to an employee earlier in a pay period . Answer: True
◉ . What report gives details of total amounts paid to an employee
during a specified period? . Answer: The Employee Summary Report
◉ What report gives details of individual paycheques paid to an
employee during a specified period? . Answer: The Employee Detail
Report
◉ How do you ascertain which version of the tax deduction tables is
being used in Sage 50 Accounting? . Answer: In the Home window,
select Help, About Sage 50 Accounting on the menu bar, then click
Support Info.
◉ Voluntary deductions . Answer: pension plan, insurance, medical,
dental and parking.
◉ Deduction rates may change, generally January 1 and July 1 of each
year. Sage 50 Accounting offers a tax table update program to update the
government tax and deduction rate tables whenever they change, and
provides software upgrades as these occur (additional fees apply). .
Answer:
