Account and Finance Trainee Interview Questions and Answers for Freshers

Yes, I have experience working with various accounting software.

• I have worked with QuickBooks for managing financial transactions.

• I have also used Xero for bookkeeping and invoicing.

• I am familiar with SAP for financial reporting and analysis.

• I have experience with Microsoft Excel for creating financial statements.

• I am comfortable learning new software and adapting to new systems.

Collection or follow ups refer to the process of contacting customers who have not paid their dues or debts.

• It involves sending reminders to customers about their outstanding payments

• It may also involve negotiating payment plans or settlements

• The goal is to ensure timely payment and maintain good customer relationships

• Examples include following up with customers who have overdue credit card payments or unpaid invoices

An invoice is a document that lists the goods or services provided by a seller and the amount owed by the buyer.

• An invoice is a bill for goods or services provided by a seller to a buyer.

• It includes details such as the quantity, price, and description of the goods or services provided.

• Invoices are used to request payment from the buyer and serve as a record of the transaction.

• They may also include payment terms, such as due date and payment method.

• Examples of invoices include...read more

Tax brackets in India determine the rate at which individuals and companies are taxed based on their income levels.

• Tax brackets in India are divided into different slabs based on income levels.

• For individuals, the tax rates range from 0% to 30% depending on the income slab.

• For companies, the tax rates vary based on their turnover and type of organization.

• Examples of tax brackets for individuals: 0-2.5 lakh (0%), 2.5-5 lakh (5%), 5-10 lakh (20%), above 10 lakh (30%).