How To Prepare Cash Flow, What Is GR-IR, Which Type of Invoice Booking Has Done, What TDS Rate Do You Know.

Question

Accepted Answer

Answering questions related to cash flow, GR-IR, invoice booking, and TDS rate.

To prepare cash flow, start with the opening balance and add all inflows and subtract all outflows to get the closing balance.
GR-IR stands for Goods Receipt - Invoice Receipt. It is used to reconcile the difference between goods received and invoices received.
There are different types of invoice booking such as direct booking, indirect booking, and recurring booking.
TDS rates vary depending on the type of payment and the recipient. For example, the TDS rate for salary payment is different from the TDS rate for rent payment.

Popular interview questions of Senior Accounts Executive