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General Ledger Interview Questions


General Ledger Interview Questions

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 General Ledger Interview Questions
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Explain Salary Computation. How to file the salary returns? 
Latest Answer: Generally, the salary is computed asBasic : 30 - 35% of CTCHRA : 50% of BasicDA : Regulated by Govt. notifications (nominal amounts)CCA : Is normally a filler on negotiated salary (put the balance amount in this). Otherwise, 30% of CTCGratuity : Is statutory ...

What is special GL in SAP? If it is reconciliation a/c for customer then each customer has two GL A/Cs, one normal & other special GL 
Latest Answer: Special GL is an GL other than the normal GL for AR and AP. Like Down payments (made or received), Bills of exchange etc.Yes, there would be two accounts for a particular client one normal and one special. ...
Read Answers (1) | Asked by : asg00324

Every increase in expenditure & assets will be a debit, every decrease in expenditure & assets will be a credit - Put a journal entry and show a puchase transaction.  
Latest Answer: Non Cash Transactions Should be Recorded In Journal Entry.For Ex:Salaries A/c  Dr xxxxx To Salaries Payble A/c xxxx. ...

If we availing service tax credit , what is the journal entry we have to pass when we receives the bill & what is the payment entry we have to pass if we make a payment  
Latest Answer: If we receives a bill with service tax @ 12.36% on Rs.10000/-, the entry will be:Purchase A/c Dr.11236  To Party's A/c10000  To Service Tax payable A/c  (Contra-1)1236(Being the Purchases made from ABC, accounted)When we make payment ...

What is the Difference Between Profile Option and User Exits 
Latest Answer: don't knw ...
Read Answers (1) | Asked by : raman av

Hi Friends,I have a problem with suspense account. I been working for some organization and they have been getting this suspense account error since 2003. But its a big organization and they didn't 
Latest Answer: Generally the suspense Accounts are temporary and are used to park the amounts.1. Therotically suspense account is used if there is any disagreement in trial balance.2. Suspense accounts are used for making the payments on online. ...
Read Answers (7) | Asked by : kv040

As a sole trader you require a vehicle to trade and decide to lease the vehicle rather than purchase it, how would you account for it in the company accounts and what nominal would you use? 
Latest Answer: Vechicle a/c dr-FATo lease agreement a/c-Liabilitie lease a/cdr-indirect expTo cash/Bank-current assetsexpense off the payment of lease from th p&l a/c ...

HiI have created Legal Entity from Accounting Setup manager>>Accounting setups and linked with SLAs. But i can not view the same LE from Inventory >setup>organizations>findwhy?Can any one help will be 
View Question | Asked by : krselvaraj

If your Accounts receivable balance in the general ledger has a debit balance of $110 and your sub ledger has a debit balance of $100 what do you have to do 
Latest Answer: Enter the debit memo in the subledger or enter the adjustment in GL. ...
Read Answers (2) | Asked by : kapriceb

Latest Answer: After transferring the subsidiary data to the parent set of books, combine the subsidiary and parent data.Once parent and subsidiary data has been combined, enter eliminating journal entries.* Choose the State Controller's Eliminate button to create journal ...

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