Answered Questions

  • Refund Deposit Amount

    You raised a deposit type of transaction to a customer, and received a receipt fully also.Later you raised a standard type of invoice, and adjusted deposited partially towards this std. invoice by using commitment Tab. If Customer is asking for refund of remaining amount. How will you refund the balance amount?

    Ajit Mishra

    • Nov 18th, 2013

    Q. No. 1 ) What is different between cost account & bank reconciliation statements ?

    Thanks & Regards

    Ajit Mishra

    kirubakaran G

    • Sep 20th, 2011

    If AR update process has been not done and apply Payment has been not done for the Customer you can adjust the Amount in AR itself. Else if the AR update process has been not done and apply Payment h...

  • Pass a JV

    How to pass a JV when we receive bill including service tax? How to close this a/c?

  • what are the different kind of mis reports

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    subhash chandra sharma  

    • Member Since Dec-2008 | Dec 30th, 2008

    MIS: Management Information System

    There is no pre-defined type’s of MIS but as per requirements of the management it can be of many type.


    • Aug 4th, 2015

    Management Information System Reports (MIS) is such an information system that very much helpful to take Business Decisions by a Company’s top level management. Kinds of MIS may vary as per Business policy of the Company.

  • What are the various items fall in balance sheet

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    • Member Since Nov-2010 | Nov 15th, 2010

    (A)asset side items are
    1 cash in hand at bank
    3.debtor ,building
    5.prepaid expenses
    6. bills receivable

    (B)liability side over draft
    4.outstanding expenses
    5.bills payable

    Satyanarayana raju

    • Jun 13th, 2015

    Liabilities side:
    Loans availed
    Current liabilities
    Duties and taxes
    Sundry Creditors
    Assets side
    Fixed assets
    Current assets
    stock on hand
    Cash and bank balances
    Loans and Advances (Asset)
    Miscellaneous expenses(Asset)

    Anil sharma

    • Apr 9th, 2015

    Asset side :
    fixed assets
    current asset and loan in advance
    misclinious exp.
    p&l if debit bal.

    Liability :
    share capital
    reserve and surplus
    secured loan
    unsecured loan
    c.l and provision

  • What is Contingent Liabilities?


    • Jul 9th, 2012

    Contingent liabilities are subjected to occurrence or not of a future event. Means a liability may be arise in future or not , it all depends on a future event. So these are not actual liabilities and shown as a foot note after balance sheet .


    • Jun 22nd, 2012

    Contingent liability refers to liabilities which may or may not occur in the future. eg:court case