Tally Solutions Accountant Interview Questions and Answers

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

• It is issued when goods are returned by the buyer or when there is an overpayment by the buyer.

• It serves as a proof of the credit made to the buyer's account.

• It includes details such as the buyer's name, date of issue, reason for credit, and the amount credited.

• It is used to adjust the bu...read more

3way and 2way match are methods used in accounting to match purchase orders, invoices, and receipts.

• 3way match involves matching the purchase order, invoice, and receipt to ensure accuracy and prevent fraud.

• 2way match involves matching the purchase order and invoice to ensure accuracy.

• In 3way match, all three documents must match before payment is made.

• In 2way match, only the purchase order and invoice need to match be...read more

Accounts Payable is the amount a company owes to its vendors or suppliers for goods or services received but not yet paid for.

• Accounts Payable is a liability account in the balance sheet.

• It represents the amount owed to vendors or suppliers for goods or services received.

• It is recorded when the invoice is received and is paid at a later date.

• Examples of accounts payable include rent, utilities, and inventory purchases.

• ...read more

Revenue is the income generated by a company from its business activities.

• Revenue is the total amount of money earned by a company from the sale of goods or services.

• It is calculated by multiplying the price of the product or service by the number of units sold.

• For example, if a company sells 100 units of a product for $10 each, the revenue generated would be $1000.

• Revenue is an important metric for measuring a company

Yes, employees can get transfers to other countries like foreign and gulf.

• Employees can be transferred to other countries if there is a need for their expertise or if there are job opportunities available.

• Transfers to foreign countries may require additional documentation and visa processes.

• Gulf countries often have a high demand for skilled professionals, making transfers more likely.

• The decision to transfer an employ...read more