Capital Engineering Corporation Executive Accountant Interview Questions, Process, and Tips

Journal entries are used to record financial transactions in the accounting system.

• Identify the accounts involved in the transaction

• Determine the type of account (asset, liability, equity, revenue, or expense)

• Decide whether the account should be debited or credited based on the transaction

• Record the entry in the general journal with the date, accounts, and amounts

• Ensure the debits equal the credits to maintain balance

To make entries in the sales screen, navigate to the sales module and input relevant information such as customer details, product/service sold, quantity, price, and any applicable discounts.

• Access the sales module in the accounting software

• Enter customer details like name, contact information, and billing address

• Specify the product or service sold

• Input the quantity or units sold

• Enter the price per unit or total amount

• ...read more

To preview a bill in Tally Prime, go to the display menu and select the voucher register.

• Open Tally Prime and login to your account.

• Click on the 'Display' menu at the top of the screen.

• Select 'Voucher Register' from the options.

• Choose the appropriate voucher type for the bill you want to preview.

• Scroll through the list to find the bill you want to preview.

• Click on the bill to view its details and preview the bill.

To find payable and receivable amounts, review financial statements, invoices, and payment records.

• Review financial statements such as balance sheets and income statements to identify payable and receivable amounts.

• Examine invoices and purchase orders to determine the amount owed to suppliers (payable) or owed by customers (receivable).

• Check payment records and bank statements to track incoming and outgoing payments.

• Ut...read more

The shortcut button for receipt and sales is Ctrl + R.

• The shortcut button for receipt and sales is Ctrl + R.

• Pressing Ctrl + R will open the receipt and sales window.

• This shortcut is commonly used in accounting software like QuickBooks or Excel.

• It allows for quick access to the receipt and sales functions, saving time and improving efficiency.

The due date for filing GSTR 3B varies depending on the turnover of the taxpayer.

• For taxpayers with an annual turnover of up to 5 crore INR, the due date is the 20th of the following month.

• For taxpayers with an annual turnover exceeding 5 crore INR, the due date is the 22nd of the following month.

• Late fees and penalties may apply for delayed filing.

• For example, if the turnover is less than 5 crore INR, the due date for...read more