What is VAT (Value Added Tax) in brief ?
Rate, Calculation, Date of monthly payment, Date of Return, Interest on late payment, Penalty on late return.
Also what is cenvat ?

mirza aaftab aalam

• Mar 12th, 2015

WHAT IS TDS

Lalmohan

• Feb 26th, 2015

TDS means tax deduction at source,there are different types of TDS rates are available on the basis of different services under different sections.like professional service salaries.TDS is deducted from basic salaries.there is a slab for minimum charges.

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Can we prepare Cash flows with help of TB ?? How we can prepare with example please?

Amir

• May 13th, 2015

YES, 1- T.B is the statement that reflect balances of each specific account on a specific exact date rather then period (usually accounting period end date). 2-Cash flow statement comprises on the ...

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Is there a entry for a "Invoice picked for payment"

Manali Mahadik

• Jun 9th, 2015

Yes, we need to MIRO ( in SAP T-Code) invoice to get it processed

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We have received total 20 invoices for processing and we have accounted all the invoices. Later we came to know that 8 invoices GRN (Goods receipt number) not create/received. How you will treat this invoices.

Gopal

• Oct 13th, 2015

Actually this will not satisfy the either 2 way or 3 way matching. First as we get an invoice for processing we need to check the invoice with GRN if we have received material or not and updated in th...

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Answered by: RAVINDRA

• Jan 6th, 2006

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The following are the important steps one should take before approving the payment.

1. Refer the Purchase Order issued.

2. Refer the Goods Received Note (GRN) for having received goods / service as mentioned in the P.O

3. Refer the terms and conditions for making the payment ( any credit period)

4. check the bank balance before approve the invoice for payment.

aneel

• Oct 25th, 2015

After receiving Invoice from vendor, the accounts payable department follow the technique i.e three way match
1) Purchase order - What we ordered
2) GRN - What goods or products we received against PO
3) Invoice - What quantity and price mentioned in PO.
these 3 are reconciled by payable dept.

rajujdv

• May 31st, 2007

1. Invoice Qty   = Goods Received Note2. Invoice Price = Purchase Order Price3. Check whether any Credit Note exists against that vendor4. Check the Ship To address for making correct paymen...

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What does research and resolve exception invoices daily mean?

aneel kumar

• Oct 27th, 2015

If the information on the invoice does not match the information on the PO, an exception invoice occurs. These are two types: 1 Invoice header exception: This occurs information on the invoice he...

ASHISH JHA

• Apr 8th, 2015

If the information on the invoice does not match the information on the purchase order, an exception invoice occurs...

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Naveen S

• May 2nd, 2016

AP is overall current liabilities of a co. It includes BP, rent due etc.,
BP is a instrument which in written, accepted by purchasers, on credit purchase of goods or services.

vikas Gupta

• Nov 17th, 2015

I think Bills payable means bills that are pending to be credited to party ledger & accounts payable means the bills already credited to party account & standing for payment to be released on a futuristic date.

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Rate, Calculation, Date of monthly payment, Date of Return, Interest on late payment, Penalty on late return.

Pintal Chauhan

• Jul 25th, 2016

Service tax is a tax charge on the services provided to the customer.

Syed hussain

• Jun 27th, 2014

Service tax nothing but an which we provide service to others is service tax payable

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Owner of the asset, Feacture Owner of the Particular Asset.

Pintal Chauhan

• Jul 23rd, 2016

Consignor means a person who deliver the goods and services to the customer and Consignee is the person who receive the goods and services from the consignor.

prudhvi

• Nov 7th, 2015

Consignor=Owner
Consginee=Customer

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Joginder Singh

• Oct 7th, 2016

One way to do this check with vendor if they can give us refund and provide a credit memo. If the supplier agrees for refund and gives credit memo. AP team has to process a credit against expense cod...

vs

• Apr 30th, 2015

Vendor paid excess; so we refunded him back; how to adjust this in books

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Can anyone state the Journal entries from the starting to the last i.e in the AP process?

Sagar Nayak

• Nov 2nd, 2016

When the order made no accounting document is made When the invoice raised form vendor site : Party A/c Dr To Sales A.c Cr ...

Lakshmi priya

• May 31st, 2016

When invoice raised
Stock dr to GRNI cr
When invoice processed
GRNI dr to vendor cr
When invoice gets paid
Vendor dr to bank cr
When payment remitted in the bank
Bank dr to cash cr

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How to clear open item balances in account payable?

Sagar Nayak

• Nov 2nd, 2016

We can clear Open Item balance in 3 ways : 1st method - fully Clearing, 2nd method - Partial Clearing, 3rd Method - Residual Clearing. According to 1st Method : Fully Clearing At the time of Purchas...

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Need to know End to End PTP activity. Starting from PO request to payment to vendors.

Megha Dave

• Mar 5th, 2017

The Procure to pay cycle involve order entry through the payment for goods and services. The PTP cycle start with:
1. Enter PO (P4310),
2. Print PO (R43500),
3. Print Receiver (R43510)
4. Enter Receipts (P4312),
5. Voucher Match (P0411),
6. Post voucher (P0011/R09801).

mayur

• Mar 8th, 2016

Procure to pay process start with the identifying the need of the department. The specific department who require the goods and services will raise the Purchase requisition and send it to procurement...

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At which stage accounting entries gets generates in AP?
Also what is Credit balance?
How is your Team helps in generating revenue to the company?

nishant tyagi

• Mar 9th, 2017

1. Inventory Receiving A/C Dr.
To Accrual/Goods Clearing
2. Accural/Goods Clearing A/c Dr
To Accounts payable
3. Accounts payable a/c Dr.
To Bank Clearing A/c
4. For Reconciliation-
Bank clearing A/c Dr.
To Bank A/c

siva

• Dec 27th, 2015

I want more information about accounting and finance

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What are the sap transaction codes used in accounts payble process and how to pull reports from sap?

Rinitha

• Jun 15th, 2017

FBL1N - Vendor line items
FK03 / XK03- To Get the vendor details
ME23N- PO Details
MR8M - Reversal
MIRO - PO Invoice posting
FB60 - Non PO invoice processing
F-44 - Vendor clearing
FB03 - TO check entry at document level
FB08 - Mass reversal
ZWFM_R002 - To check CAM approval flow

Jitendra shukla

• Jan 14th, 2017

First we create a ledger for a/p in fs00 then we create account group in obd3 then define no.range in xkn1 then assign no.range for vendor acct group in obas then define vendor in xk01 then Post invoice in f-43 .

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Santosh Kumar Prusty

• Jun 21st, 2017

TDS = Tax Deduct at sources, It was charged by service avail-er. against service provider.

Madhuri

• Apr 4th, 2017

The person responsible for making payment of certain income to the income earn deduct income tax at the prescribed rate on such incomes before payment is made to them

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What is the difference between Finance & Accounts?

Prasad Ravulakollu

• Jun 27th, 2017

Accountancy is the locker containing historical data for decision making, where Finance is the key to unlock it.

Santosh Kumar Prusty

• Jun 21st, 2017

As per Accounting Rule, Accounting = Financing+Manage Accounts+ Manage Costing
For regularize day to day function of establishment, for Financial Manager, generate fund, accounts manager utilize fund and cost accountant regulate fund.

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What are Golden Rules for Accounting?

Victor Samuel

• Jul 6th, 2017

Golden rules of accounts:
Personal A/c:
Debit the receiver
Credit the giver

Real A/c:
Debit what comes in
Credit what goes out

Nominal A/c:
Debit all expenses and losses
Credit all incomes and gains.

Chandramohanreddy

• Jun 12th, 2017

1.Personal account: The account which is starts with names and artificial concerns are called as personal account debit is the receiver credit is the giver 2.Real account account:Inflows and outfl...

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Guru

• Jul 24th, 2017

Before making payment need to check the invoice processed and approved by proper DOA correctly, Due date of the invoice if any, invoice currency processed correctly.

Alveretta Thomas

• Jul 15th, 2017

What steps should be taken after verifying the accuracy when paying for purchases?

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Andy Nguyen

• Jul 28th, 2017

About 750+ a week, 3000+ a month. Not include permits/taps, water, utilities bill, and tons of work like scanning, copy, mail check, and much much more.

Muhammad Abid

• Feb 1st, 2014

What are the steps you go through to check your accounting work before submitting it? Give an example of this?

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