Neterwala Consulting and Corporate Services Interview Questions and Answers

Unbilled data or accrual data refers to revenue that has been earned but not yet billed to the customer.

• Unbilled data is a common term used in accounting to describe revenue that has been recognized but not yet invoiced.

• Accrual data refers to expenses that have been incurred but not yet recorded in the accounting system.

• Clearing unbilled data is important to ensure accurate financial reporting and to prevent revenue le...read more

Cash forecast is a projection of future cash inflows and outflows. Golden rules of accounting are basic principles to maintain accurate financial records.

• Cash forecast helps in managing cash flow and planning for future expenses.

• Golden rules of accounting are: debit the receiver, credit the giver; debit what comes in, credit what goes out; and debit expenses and losses, credit income and gains.

• These rules ensure accura...read more

A credit note is a document issued by a seller to a buyer, indicating that a certain amount has been credited back to the buyer's account.

• Credit notes are used to correct errors in invoices.

• They are also used to adjust the amount owed by a customer.

• Credit notes can be issued for returned goods or cancelled services.

• They can also be used to give a discount or refund to a customer.

• Credit notes are important for maintaini

Payment term is the time period within which a customer is required to pay for goods or services. Credit period is the time period for which a customer is allowed to delay payment.

• Payment term is agreed upon by the seller and buyer during a transaction.

• It can be expressed in days, weeks, or months.

• For example, a payment term of 30 days means the customer must pay within 30 days of receiving the invoice.

• Credit period is...read more