What do you mean by price variation in Purchase Invoice?
Latest Answer: If the Invoice unit price and PO unit price is varies is known as price Variance. however users can post invoices if the variance is within threshold of 5% or $50, whichever is lower. ...
In accounts payable - What do you mean by STPT?
Latest Answer: Software Technology Parks of India (STPI), is a society set up by the
Department of Communication & Information Technology, Government of India in 1991, with the objective of encouraging, promoting and boosting the Software Exports from ...
How to pass a JV when we receive bill including service tax? How to close this a/c?
Latest Answer: Entries to post is Expense A/C Dr.Tax A/C Dr.Vendor A/C Cr.Upon end of each month we will file return with Govt. entry would appear like this.Tax Payable A/C ...
What is 3 Way Matching?
Latest Answer: Quantity/Price Ordered should match with Quantity/Price Recieved and Billed is known as Three way match. If the Quantity received and billed is lesser than Qty Ordered is fine to proceed for payment, it should not cross Qty Ordered in any circumstance. ...
What is Q-point?
What steps would you take before approving an invoice for payment?
Latest Answer: STEP 1 ; Verification of purchase order, qty, rate
STEP 2 : Verification of purchase invoice with purchase order
STEP 3 : Verification of goods received note
STEP 4 : Number of credit days
STEP 5 : Bank Name and CH favouring ...
What is the difference between billable and non-billable expenses?
Latest Answer: Billable expenses are the expenses incurred by you on behalf of your customer in performing duties / service and supply. This expenses are recoverable from your customer by way of billing. Non-billable expenses are the expenses incurred by you for carry ...
Tell us about an invoice discrepancy that you discovered and how you resolved the discrepancy
Latest Answer: Invoice can be discrepant with Purchase order in the following ways. 1. Currency of Purchase order does not match with Invoice. 2. Post dated Invoice 3. Invoice details does not match with the database maintained. 4. Quantity and Price Variance 5. Total ...
what is the difference between debenture and preference share
Latest Answer: The difference between Debentures and Preferential Shares is as follows:
1) Person holding debentures has owed money to a company, while Preferential
Shareholder could be considered as a partial owner of the company.
2) A Preference shareholder has ...
What is STPI ? why STPI knowledge required in Accounts Payable ?
Latest Answer: Some of the software service providers will get exemption from Software Technology Parks of India (STPI) for their software exports. In accounts payable may be we need to define the vendor STPI location wise. In
India we have different STPI location. ...
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