vara

• Feb 27th, 2014

When we have received amount from bank that is debit to banker , when we deposited amount in bank that is credit as per bank books.

shabeena

• Jun 21st, 2013

What we are receiving the money it is called as debit...................... what we are paying the amount to bank it is called credit

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Rate, Calculation, Date of monthly payment, Date of Return, Interest on late payment, Penalty on late return.

Please explain end to end process of accounts payable. I mean, Invoice processing to Payment.

Praveen

• Oct 11th, 2013

Finding supplier - Raising Purchase Requisition - Creation of Purchase order - Invoice process with(2 way, 3 way & 4 way matching) - payment run for the invoices(which is due to pay) - Cash Team will make the payment.

devi prasad

• Feb 15th, 2012

AP work starts with receiving of invoices from stations, validation of invoices and ends with payment of that invoice.

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How many types of purchase order's status are their and their relative significance. e.g Closed, Released, Open, etc

shaiK

• Jul 20th, 2013

There are five types of purchase orders.
1) STANDARD PURCHASE ORDER
2) PLANNED PURCHASED ORDER
3) BLANKET PURCHASED ORDER
4) CONTRACT PURCHASED ORDER
5) AGREEMENT PURCHASED ORDER

mvaramakrishna

• Apr 7th, 2012

5 Types

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Sivarama Krishnan

• Jun 24th, 2013

Invoice Date
Invoice Number
PO Terms
Payment Terms
Calculation
Vendor has complied with statutory norms
Taxes are being bifurcated properly
if its three way mathhing is there debit note to be raised

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What are the entries that get generated in Bank reconciliation both check and wire banks ?

shabbu

• Jun 21st, 2013

Bank statement reconciliation means differentiate between the bank book to cash book .......... that means cash book amount bank book amount should verify

Basamaekul

 Profile Answers by Basamaekul Questions by Basamaekul

• Jun 29th, 2010

There are two spearate entries that one must make to reconcille the bank statement to the company's books.  The first is the increases to the cash account that the company has not recorded.&n...

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If Any amount showing negative figure on the credit side of the trial balance then what does it mean?

sankesh

• May 27th, 2013

It means that there is an error in nominal ledger accounts

srinivas

• Sep 11th, 2012

Trial Balance- It is a statement in which debit and credit balances of all the accounts of the ledger including cash and bank balances (taken from cash book) are shown to test arithmetical accuracy of...

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Ajijul

• Mar 12th, 2013

Capital is the fund owner starts with the Business. To calculate the true profit owner charge Interest on the Capital which he/she started with the Business. Int. on Capital is the charge usually used in Pvt Ltd company.

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niraj

• Feb 28th, 2013

Accounts payable process is required in a company because this will help and guide the accountant to manage their payables with in the normal course of the business. This includes verifying and checki...

nkamuni_mca

 Profile Answers by nkamuni_mca Questions by nkamuni_mca

• Dec 30th, 2009

Accounts payable prime responsibility is to pay the vendors who has supplied goods and services on credit.

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If there is oustanding payments, we have to pass accural enteries. So what are the enteries for accurals?

sundar

• Feb 23rd, 2013

3050000 account debit
To customer account credit

chinnaguntupalli

 Profile Answers by chinnaguntupalli Questions by chinnaguntupalli

• Sep 13th, 2009

It is an entry to create provision for unaccounted expenses in the current month for which services/goods already recieved.

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How is a foreign currency invoice entered in AP?

janet

• Oct 15th, 2012

Either converted to US currency or if you have a system that records foreign currency

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What is the difference between Recurring Journals and Recurring Invoices? What is the need for the Recurring Journals in GL when Recurring invoices exist in AP?

What is a Quick Book? What details does it contain?

Raghavendra Acharya

• Sep 6th, 2012

Quick Books is accounting software developed and marketed by Intuit. Which is very popular among small & medium scale enterprises in United States, UK, Australia & many other countries.Intuit has inte...

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sukanya satish kore

• Jul 23rd, 2012

Financial instruments are bonds debentures treasury bills shares etc

Santosh Kumar Attri

• Feb 20th, 2012

Financial instruments are legal documents that embody monetary value. There are a number of different types of documents that are properly identified as a financial instrument. Under the broad heading...

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we will involve Inventory, Purchasing, Payables, cash Management and Cost management in P2P cycle.
which module period is closed

Sid1599

• Jul 18th, 2012

A/c Payable is closed in P2P Cycle as finally the company pays the vendor as per his invoice.

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What is a factored invoice?

Pratik

• Jul 6th, 2012

Invoice factoring is the practice of selling your accounts receivable (invoices) at a discount to another company. You get the money from the company that you sold your accounts receivable to and the invoice factoring company services your accounts by collecting on the invoices.

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bill7031

 Profile Answers by bill7031 Questions by bill7031

• Mar 20th, 2012

A loss (or losses) from previous years carried forward in order to offset future earnings. This reduces the tax burden for the years with profit as the accumulated losses are deducted from the taxable profit.

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How do you resolve a Invoice discrepancy that you discover

Lokesh M

 Profile Answers by Lokesh M Questions by Lokesh M

• Feb 11th, 2012

Send a debit note/memo to vendor
Ask the vendor to send credit note/memo for the discrepancies caused.

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mohit

• Feb 1st, 2012

first if u do accounting in manual way than prepare trial balance of all accounts and check all related vouchers to that accounts ex.for preparing furniture a/c check all voucher which is related to f...

pratima

• Nov 24th, 2011

1.Directors report
2.auditors report
3.B&s & P&l

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What items of information do you need before you can approve an invoice for payment?

Murugan L

• Jan 11th, 2012

1. Date
2. Invoice No
3. Vendor Name
4. Tin No
5. Total Amount calculated correctly or not
6. Signature of inventry handler (who taking care of material receiving, Goods Receiving Note)
7. Materials quantity and quality must tally with purchase order
8. and tax details.

molabanti

 Profile Answers by molabanti Questions by molabanti

• Nov 11th, 2011

From the following points normally we observe

Invoice Date
Invoice Number
Vendor Name
Vendor Address
Quantity of Stock
Total Price
Vendor Signature
Net Price
Original Invoice
Security Seal
Pass in Seal
Tax Code

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