All you need to Know about Interview Skills & Techniques

All you need to Know about Interview Skills & Techniques

Hey guys...

Hope you all are doing great!

Tired of getting rejected?

We know that you did prepare very well for an interview. Don't worry we are here to help you out from this phase. You don’t have to wait until you have an interview scheduled to begin preparing.

So let's Begin.........!

Do you know?

The interview is how 90% of hiring decisions will be made, be prepared to sell yourself. How you do that will influence the likelihood of an offer and the better the interview, the better the offer potentially!

The best advice on preparation is… to actually prepare!

If you’re reading this, it looks like you are putting in some preparation so give yourself a applause, you’re thumping in the right direction.

Can I give you a relax breath?

Interviewer's questions is absolutely depends on your answers.  (What you want to allow them to ask)

I suggest making sure that you is ‘in it to win it’. Don’t go to an interview to ‘check them out’ or to ‘see what they have to say’. Go to an interview with the intention of winning a great job offer.   

You can easily find lists of common interview questions—but don’t prepare by writing out your entire answer  instead jute down a few notes or bullet points and keep them on hand for the interview itself.

Most asked questions by an interviewer are:

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What are Debit, Credit Note and their Formats?

What are Debit, Credit Note and their Formats?                                             

You might be well aware of the term statement or bill or bill of materials. An invoice is used to maintain a record of sales. So, what happens when there is a change in the value of those invoices. Will you go about editing those invoices? It does not make sense to do so. You have already generated the invoice and recorded those transactions in the journal.

The only way out is to make additional entries that indicate a change in the original invoice value and provide a document for further proof of the actual value of the sale made. These documents are called credit and debit notes.

In the sections that follow, we shall understand what debit note and credit is. We would also learn what should be mentioned within the debit note and credit note and what should be the format of a debit or credit note? Glance through a few examples of debit notes and credit notes.

Debit Note And Credit Note Explained

What is a debit note?

A debit note is also known as a debit memo. It is a document that is issued from a buyer to a seller indicating a request to return funds as a result of incorrect or damaged goods or services or cancellation of purchase. A debit note is issued before a credit note can be issued by the supplier and acts as a buyer’s formal request to issue a credit note.

A debit note can be issued by a buyer to the seller requesting the return of the partial or whole amount of payment already made. It could be due to incorrect or damaged goods received or cancellation of the order, or other special circumstances. A debit note serves as evidence of a purchase return in the buyer’s accounting books. On the other hand, a credit note is proof of a sales return.

It is issued when, as a Client , you receive goods or services that may not be of expected standard while you are in receipt of the final invoice from the seller. As a buyer of goods from a supplier, if you would like to return the purchased goods for any valid reason, you can issue a debit note.

Some common reasons for issuing debit notes:

1.      Damaged or Imperfect goods received.

2.      The purchaser has overbilled the invoice.

3.      Incorrect invoice amount

Let’s look at a debit note example.

Company A is the purchaser, and Company B is the seller or supplier. The sequence of events below will lead to the issuance of a debit note...

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Banking utilities in TallyPrime

 

Banking utilities in TallyPrime

As a business owner, if you use a specific bank to manage your transactions write receiving and making payments, TallyPrime offers you a host of utilities including:

1. Auto bank reconciliation
2. Cheque management
3. E-payments
4. Deposit Slip

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How to create bank ledger in TallyPrime?

Bank ledgers contain crucial information about a bank that you use to make or receive payments. You can provide information such as Bank name, Account no., IFS code, and address while creating bank ledgers.

Simply go to Gateway of Tally > Create > type or select Ledger and press Enter.

OR

Alt+G (Go To) > Create Master > type or select Ledger and press Enter.

Fill in the required details such as;

Name of the bank

Bank Accounts (Saving Account (Bank Account), Over Draft account ( Bank OD), Cash Credit account (Bank OCC))

Account details – Account holder’s name, A/C number, IFSC, Branch, etc.

Auto Bank reconciliation

Reconciling company’s bank books with the banker’s statement is a regular task of accounting. Thus, TallyPrime offers you bank reconciliation capability, which explains the difference between the bank balance shown in an organization’s bank statement, as supplied by the bank, and the corresponding amount shown in the organization’s own [accounting] records at a particular point of time. With TallyPrime, you can:

1. Check correctness of reconciliation
   
2. Recover reconciliation of any date
3. Auto Bank Reconciliation
4. Reconcile manually

TallyPrime’s auto bank reconciliation enables users to reconcile bank statements with a long list of transactions, in the most simplified manner. All you got to do is simply import the bank statements, and the reconciliation will happen, automatically. Yes, it is that simple!

You need to enable the option provided for auto bank reconciliation in the bank ledger to reconcile the transactions made with that bank.

Cheque management

With TallyPrime, you can manage a host of pre-defined cheque formats, multiple cheque books and powerful cheque register, manage your banking needs effortlessly. You can maintain record of all payment made using cheques or if you have received payments through cheques from your parties. In TallyPrime, you can configure the cheques based on the type of cheque book you use in your business. Configure the cheques as your need and get them printed to suit your business needs.

In order to print a self cheque in TallyPrime, cheque printing has to be configured. Then you have to pass a contra entry by entering Self as the Favouring Name in the Bank Allocation screen.

1. Gateway of Tally > Vouchers > press F4 (Contra). Credit the bank account
   
2. Enter the amount in the Credit column
3. Press Enter to go to the Bank Allocations screen
4. Press F12(Configure) > set Show favouring name as Yes, to enter Self as the Favouring name.

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Shortcut Keys in Tally Prime

 

Shortcut Keys in Tally Prime

Tally Prime is the only accounting software which is considered worldwide by individuals and business corporates for maintaining their Accounts. Therefore, Accountants must learn tips and tricks taught in Tally courses. Tally is the most capable software in handling all kind of businesses.

Tally has great scope as it largely benefits fresher’s pursuing career in accounting. There are many Institutes that provide Tally training courses in Nagpur. Anyone can opt to learn Tally Prime, irrespective of their field.

Tally Prime has shortcuts to almost all functions. You do not need to use the mouse to activate any function if you use these tally shortcuts. These keys are an alternative to using the mouse by using your keyboard instead.

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Tally Hidden keys:

Shortcut Keys	Function
Esc	Goes back to the previous screen by closing the current open screen
	Removes the inputs that are provided or selected for any field
F11	Opens Company Features screen
Ctrl + Up/Down	Moves the first or last menu in a section
Ctrl+  Left/Right	Moves to the left-most or right-most drop-down top menu
Home & PgUp	Moves from a line to the first line in any list
Home	Moves from a point in any field to the beginning of the text in that field
End & PgDn	Moves from a line to the last line in any list
End	Moves from a point in any field to the end of the text in that field
Up arrow	Moves one line up
	Moves to the previous field
Down arrow	Moves one line down in any list
	Moves to next field

Read More Tally Prime Shortcut Keys

How to Create Ledgers in Tally Prime

 How to create Ledgers in Tally Prime? After creating a company in Tally, the next step is to create a Groups & Ledgers account. A ledger is an actual account used to identify business transactions and are used in all accounting vouchers. For example, purchase, payments, sales, receipts, and others account heads are ledger accounts. Without a ledger, you cannot record any transaction.

All ledgers accounts have to be classified under groups. These groups and ledgers are classified into profit and loss or balance sheets. There are two already set ledgers in Tally Prime: Cash ledger & Profit and loss account. In this article, we have explained various ways to create Ledgers in Tally Prime. AIAT is the Best Tally Prime Class in Nagpur. They Provide Tally Prime with GST Training in Nagpur.

Create Ledgers One by One

1.      Go to Gateway of Tally > Create > type or select Ledger and press Enter.

2.      Alternatively, press Alt+G (Go To) > Create Master > type or select Ledger and press Enter.

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