Billing Associate Interview Questions and Answers for Freshers

Bank reconciliation statement is a document that compares the bank statement with the company's accounting records.

• It helps to identify any discrepancies between the two records

• It ensures that all transactions are accurately recorded

• It includes items such as deposits in transit, outstanding checks, and bank errors

• It is typically prepared on a monthly basis

• Example: If a company records a check as being issued but it has not yet cleared the bank, it will appear as an outstandin...read more

GST is a tax on goods and services in India, while TDS is a tax deducted at source from income.

• GST stands for Goods and Services Tax, which is a value-added tax levied on the supply of goods and services in India.

• TDS stands for Tax Deducted at Source, which is a tax deducted from the income of an individual or entity at the time of payment.

• GST is a comprehensive tax that replaced multiple indirect taxes, such as excise duty, service tax, and VAT.

• TDS is deducted by the payer a...read more

Tally Prime is an accounting software used for managing financial transactions and generating reports.

• Tally Prime is an upgraded version of Tally.ERP 9

• It offers features like simplified installation process, enhanced security, and improved user interface

• It can be used for various accounting tasks such as invoicing, inventory management, and payroll processing

• Tally Prime also provides customizable reports and can be integrated with other business applications

• It is widely used ...read more