Accounts Receivable refers to the money owed to a company by its customers for goods or services that have been delivered but not yet paid for.
Accounts Receivable refers to the money owed to a company by its customers for goods or services that have been delivered but not yet paid for.
Yes, Form C is a declaration used in India for inter-state sales of goods by registered dealers under the Central Sales Tax Act. It allows the buyer to purchase goods at a reduced tax rate.
The TDS rate for subcontractors is generally 1% for individuals and Hindu Undivided Families (HUF), and 2% for others, as per the Income Tax Act in India.
An accounting procedure is a set of steps or methods used to record, classify, and summarize financial transactions in order to prepare financial statements and ensure accurate financial reporting.
The transaction will be recorded as a debit to the Salary Expense account and a credit to the Cash account.
To pass the entry in Tally for commission paid to four agents, you can follow these steps:
1. Go to the Gateway of Tally.
2. Select "Accounting Vouchers."
3. Choose "Payment" voucher type.
4. In the "Account" field, select the first agent's account.
5. Enter the commission amount in the "Amount" field.
6. In the "Particulars" section, select "Commission Expenses" or create a new ledger for "Commission Paid" if it doesn't exist.
7. Repeat the above steps for each agent, ensuring to debit their respective accounts and credit the "Commission Expenses" account.
Finally, save the voucher.
We maintain a bank reconciliation statement to ensure that our financial records match the bank's records, identify any discrepancies, and ensure accurate reporting of cash balances.
I am looking for new challenges and opportunities for growth that align more closely with my career goals.
The TDS rate for a construction company is generally 1% for individual and Hindu Undivided Family (HUF) contractors, and 2% for others. The cut-off limit for TDS deduction is ₹30,000 per payment and ₹1,00,000 in a financial year. TDS should be deducted at the time of payment or credit, whichever is earlier.
Yes, I have submitted my two weeks' notice to my current employer.
Yes, I am open to working outside Kolkata.
I am a dedicated accounting professional with a degree in accounting and over [X years] of experience in financial reporting, budgeting, and tax preparation. I have strong analytical skills and attention to detail, which help me ensure accuracy in financial statements. I enjoy working collaboratively in a team and am always eager to learn and adapt to new challenges in the accounting field. In my free time, I like to stay updated on industry trends and improve my skills through online courses.
Tally ERP 9 is a more advanced version of Tally 7.2, offering features like GST compliance, multi-user access, and enhanced reporting capabilities.
I have a degree in Accounting from [Your University] and [X years] of experience working as an accountant/accounts executive in [specific industries or companies].
1. Relevance: Financial information must be relevant to the decision-making needs of users.
2. Reliability: Financial information must be reliable and free from bias, ensuring it can be depended upon.
3. Comparability: Financial statements should be prepared in a way that allows for comparison across different periods and entities.
The three golden rules of accounting are:
1. **Debit the receiver, credit the giver** - For personal accounts.
2. **Debit what comes in, credit what goes out** - For real accounts.
3. **Debit all expenses and losses, credit all incomes and gains** - For nominal accounts.
I am leaving my current company to seek new challenges and opportunities for growth in my career.
The balance sheet may not match due to errors such as incorrect data entry, missing transactions, misclassifications, or unrecorded liabilities or assets.
Input CST will be created under the "Purchases" group.
I would inform the MD that personal expenses should not be paid from company funds and advise him to use personal funds for the insurance premium.
The Accountant / Accounts Executive category on takluu.com is designed for professionals responsible for maintaining accurate financial records, handling accounts payable and receivable, and supporting financial audits. These roles are critical for the smooth functioning of an organization’s finance department.
This section covers essential topics including journal entries, ledger posting, bank reconciliation, invoicing, payroll processing, taxation basics, and preparation of financial statements. Interview questions also test knowledge of accounting principles (GAAP/IFRS), compliance regulations, and use of accounting software like Tally, QuickBooks, or SAP.
Candidates preparing for positions such as Junior Accountant, Accounts Executive, Finance Assistant, or Bookkeeper will find curated interview questions, practical scenarios, and tips on managing day-to-day accounting tasks efficiently.
Interviewers typically assess your accuracy, attention to detail, and understanding of financial processes. You may be asked to explain how you handle reconciliations, manage expense reports, or ensure timely submission of tax filings.
At Takluu, we provide detailed study materials and example questions to help you build confidence and demonstrate your competence in interviews.
Whether you are a fresher starting your career or an experienced professional seeking advancement, this category offers comprehensive preparation to help you succeed in accounting roles.