Blue Consulting Interview Questions and Answers

Accounts payable is a process of managing and recording a company's financial obligations to suppliers and vendors.

• Accounts payable involves recording and tracking invoices and payments

• It ensures timely payment to suppliers and vendors

• Bank reconciliation is a process of comparing a company's records with bank statements

• It helps identify discrepancies and ensure accurate financial reporting

TDS on purchases refers to the tax deducted at source on payments made for purchases of goods or services.

• TDS on purchases is a mechanism to collect tax at the time of making payments for purchases.

• The person making the payment (deductor) deducts a certain percentage of the payment as TDS and remits it to the government.

• The deductor then issues a TDS certificate to the payee (deductee) as proof of tax deduction.

• The TDS...read more

The new amendments in e-invoicing in GST include changes in the invoice format, mandatory QR code, and dynamic QR code.

• Introduction of mandatory QR code on B2C invoices

• Introduction of dynamic QR code on B2B invoices

• Changes in the invoice format to accommodate QR codes

• Enhanced reporting requirements for e-invoicing

• Integration of e-invoicing with the GST portal