Acutesoftsolutions Junior Accountant Interview Questions and Answers for Experienced

Tally is an accounting software used for managing financial transactions and generating reports.

• Tally is widely used in businesses for bookkeeping and accounting purposes

• It can handle various financial transactions such as sales, purchases, payments, and receipts

• Tally can generate financial reports such as balance sheets, profit and loss statements, and cash flow statements

• It also has features for inventory management ...read more

Accounts refer to the financial records of an organization, including transactions, assets, liabilities, and equity.

• Accounts are used to track and record financial activities of a business or individual.

• They include various types such as assets, liabilities, equity, revenue, and expenses.

• Accounts are organized in a chart of accounts, which provides a systematic structure for recording and reporting financial informatio...read more

Accounts are used to track financial transactions and provide information for decision making.

• Accounts help in recording and tracking financial transactions

• They provide information for decision making and financial planning

• Accounts help in preparing financial statements like balance sheet and income statement

• They aid in tax compliance and audit purposes

• Examples of accounts include cash, accounts receivable, accounts pa