TTK Prestige Executive Accountant Interview Questions and Answers

Sales can be entered in Tally by creating a sales voucher and entering the necessary details.

• Go to Accounting Vouchers in Tally

• Select Sales Voucher

• Enter the customer details, sales amount, and other relevant information

• Save the voucher to record the sales transaction

To enter ledger posting in Tally, you can use the 'Accounting Vouchers' option.

• Go to 'Accounting Vouchers' in Tally

• Select the type of voucher you want to create (e.g. Payment, Receipt, Contra, Journal)

• Enter the necessary details such as the ledger account, amount, and narration

• Save the voucher to post the entry in the ledger

To enter a payment in Tally, you can use the payment voucher option.

• Go to Accounting Vouchers section in Tally

• Select Payment Voucher option

• Enter payment details such as party name, amount, and payment mode

• Save the voucher to record the payment

• You can also use shortcut keys like F5 to directly access payment voucher

Accrual accounting is a method of accounting where revenues and expenses are recorded when they are earned or incurred, regardless of when cash is exchanged.

• Revenue is recognized when it is earned, not necessarily when cash is received

• Expenses are recorded when they are incurred, not necessarily when they are paid

• Accrual accounting provides a more accurate picture of a company's financial position and performance over ...read more

Prepayment is an advance payment made for goods or services before they are received or delivered.

• Prepayment is recorded as an asset on the balance sheet until the goods or services are received or delivered.

• Once the goods or services are received or delivered, the prepayment is then recognized as an expense on the income statement.

• Examples of prepayments include rent paid in advance, insurance premiums, and subscripti

Working capital is the difference between current assets and current liabilities. Bank reconciliation is the process of matching the balances in a company's accounting records to the corresponding information on a bank statement. Golden rules of accounting are basic principles that guide the process of recording financial transactions.

• Working capital is calculated as current assets minus current liabilities.

• Bank reconc...read more

To make a purchase order, follow these steps:

• Identify the need for the purchase

• Determine the quantity and specifications of the item

• Obtain quotes from vendors

• Select a vendor and negotiate terms

• Create the purchase order with vendor details, item details, and payment terms

• Obtain approval from authorized personnel

• Send the purchase order to the vendor

Account details refer to specific information related to a financial account, including transactions, balances, and account holder information.

• Account details typically include the account holder's name, account number, and contact information.

• They also include transaction history, such as deposits, withdrawals, and transfers.

• Account details may also include current balances, interest rates, and any fees associated wit...read more

MIS Executive stands for Management Information System Executive, responsible for managing and analyzing data to support decision-making.

• MIS Executive is responsible for collecting, analyzing, and presenting data to support management decision-making.

• They use various software tools to generate reports, dashboards, and presentations for management.

• MIS Executives often work closely with different departments to gather re...read more

Account details refer to specific information related to a financial account, including transactions, balances, and account holder information.

• Account details typically include the account holder's name, account number, transaction history, and current balance.

• These details are used for tracking financial activities, monitoring account status, and ensuring accuracy in financial records.

• Examples of account details inclu...read more

MIS Executive stands for Management Information System Executive, responsible for managing and analyzing data to support decision-making within an organization.

• MIS Executives use various software tools to collect, organize, and analyze data.

• They create reports, dashboards, and presentations to communicate insights to management.

• They play a crucial role in improving operational efficiency and strategic planning.

• Examples...read more

Accounting is the process of recording financial transactions and summarizing them in financial statements.

• Accounting involves recording financial transactions such as sales, purchases, and expenses.

• It also includes summarizing these transactions in financial statements like balance sheets and income statements.

• Accounting helps in analyzing the financial health of a business and making informed decisions.

• Examples of ac...read more

MIS Executive stands for Management Information System Executive, responsible for managing and analyzing data to support decision-making within an organization.

• MIS Executives use software tools to collect, organize, and analyze data for reporting purposes.

• They create reports, dashboards, and presentations to communicate insights to management.

• They may also be involved in database management, data mining, and process im...read more