diff b/w current account and saving account?2. what is sub ledger?give me one ex?3. what is another name for a real account in accounting? is it a permanent account or a temporary account?...4. what is the payrollsystem5. what is consolidation6. 1) developed interface program for invoice upload from external system after validation and error handling...7. What is difference between automatic Payments Batches and automatic payments8. After raising GR then raise invoice for partial quantity. eg raised GR for 1000 quantity and raised invoiced...9. what are steps to define supplier?10. 1. If assume we paid 50/- as an advance for worth or 100/- goods, but our supplier sent only up to 25/-...

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HumairUlla

  • Nov 29th, 2006
 

Answer for ques. 4 Payrollsystem means giving payment for the creditors by monthwise system

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Rajesh

  • Nov 29th, 2006
 

The major difference between Savings A/c and current A/c is that you have overdraft facility up to a specified limit judged by the bank for the individual / company / partnership firm ... whereas you dont have the facility given for a savings A/c.

Further, the O/D will be charged at an agreed rate of interest on the excess amount withdrawn over the balance in the current account, while you cheque will get bounced if you have a savings A/c and a cheque bounce fee will be charged on yourself.

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Porus Singh

  • Dec 1st, 2006
 

Ans to Q1:

1. Savings A/c is meant to encourage savings habit and Current A/c is to route business transactions via a bank account i.e. to record/trace entries through books of accounts.

2. Withdrawal is allowed twice a weak in savings, withdrawal is allowed n number of times daily.

3. Limited cheques are issued in a calander year, cheques are issued as per the requirement of the customers charging them additionally.

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vimala

  • Jan 16th, 2007
 

Distributing the salaries for the employees is called the payroll system.

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vimala

  • Jan 16th, 2007
 

Consolidation in breif clubbing of two reports into one report.

For example: ABC compnay is having their head office at hyderabad and branch office at banglore.

They have to prepare the balance sheets at both the sites. Head office will prepare their balance sheet according to their head office ledgers. And the branch office will prepare their balance sheet according to branch office ledgers. But finally if you want know the profit of ABC Co., you have to combine both the balance sheets.

Here i will give you a small example:

                                    Head Office                    Branch Office

Salaries a/c                   50000.00                           30000.00

Rent a/c                        45000.00                          80000.00

You have to add both the amounts of the same account for your final balance sheet. This is called Consolidation.

I hope i am clear with your question

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sandhya

  • Feb 12th, 2007
 

thank you vimala, great answer

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sapnajain

  • May 19th, 2008
 

sub ledger are the segment of the main ledger for eg:sundry debtors is a main ledger so in sundry debtors we have records of all debtors balances. if we want individual report of anf one debtor we need to make a sub ledgers eg: ravi a/c, sunil a/c, ABC & CO are some of debtors a/c which will be termed as a sub ledger in the main ledger of sundry creditors a/c.

kashik_1973

  • Apr 2nd, 2009
 

Diff b/w current account and saving account?
A savings a/c is for people who want to keep the money in the bank. This a/c pays a very small rate of interest to the a/c holder. 

Current account is one where you don't get interest while you get interest on your savings in the saving account

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