Katalyst Software Services Junior Accounts Executive Interview Questions and Answers for Experienced

Golden rules of Accounting are basic principles that guide the process of accounting.

• The first golden rule is to maintain a record of all financial transactions.

• The second golden rule is to maintain a separate record for each account.

• The third golden rule is to ensure that the debit and credit entries are equal.

• These rules help in maintaining accuracy and consistency in accounting.

• For example, if a company purchases in...read more

When an invoice is raised, it is important to check for accuracy and completeness.

• Check that all necessary information is included, such as the date, invoice number, and payment terms.

• Verify that the amount charged is correct and matches the agreed-upon price.

• Ensure that the invoice is addressed to the correct recipient and contains the appropriate billing address.

• Confirm that any applicable taxes or fees have been pro...read more