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Accounts Payable

Sometimes referred to as trade payables, accounts payable is an account sub-ledger that records all the amounts that a company or a person owes to suppliers but has not paid yet.

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How does the binary number system help us in everyday business?

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Asked by Waltvictor

1 and 0 stands in for both of these states. Binary numerals are composed of the numbers 1 and 0. Different data are represented by these numbers. The number system is commonly referred to as binary, or base 2 because numbers are represented by two digits.

What is global payments process?

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Asked by Wiki User

Global payment processing is the transfer of funds between businesses and entities, such as suppliers, vendors, or employees, whose bank accounts are located in foreign countries. This process is done by using a global payment processor, which acts as a bridge between all who are involved to take and receive money.

Here are some key pointers about the global payment process:

  1. Global payment processing involves transferring funds to entities with bank accounts in foreign countries

  2. It typically requires the involvement of a global payment processor, which facilitates transactions between merchants located in different countries

  3. The fees can vary depending on the processor, amount, and destination. However, using a cost-effective global payment processor can reduce the extra cost and make your processing easy.

  4. Global payment processing systems automatically convert currencies to ensure that recipients receive the correct amounts. Others may require input from the sender or recipient.

In summary, global payment processing is essential for businesses engaged in international transactions, and using an efficient global payment processor can help streamline the process and reduce associated costs.

If your business is on salesforce than your can consider "ChargeOn" for globle payments.

What is format of debit note and credit note?

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Asked by Wiki User

Debit note is money being taken out

Credit note is money being brought in

How long do you need to study to become a accountant?

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Asked by Wiki User

You could get it done in 4 years, but if you want to become a Certified Public Accountant, you have to take a pretty hard test (like the bar exam for accountants) and there is a period of time where you have to learn on the job before you get licensed.

But, you could get a job right out of high school in an Accounts Receivable department, and technically that's accounting.

What classes should be taken in high school to prepare for a degree in accounting?

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Asked by Wiki User

Answer

To be honest, it really won't matter too much what you take in high school as long as you meet the prerequisites to getting into the college. If Accounting is really what you want to do, some high schools offer an Accounting course. Taking advanced classes for what you want to major in really helps out in college. I would recommend Statistics and as much Math as you can take (AP Calculus probably). It is really up to you though. If you only take the required math to get into college in high school it won't kill you in college. A good example is myself, I am majoring in Microbiology and I'm pre-med, I didn't take Anatomy, Zoology, or AP Biology in high school.

Qualities of a good counselor?

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Asked by Wiki User

Registered with state.

Customers recommend him/her.

Has a few years of experience helping people with the specific issues you want to address.

Is 100% professional a before, during, and after working with you.

Google to find self-help support groups that deal with your issues, attend some meetings, and ask credible support group members for recommended therapists.

God bless you always.

When to use accounting accruals?

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Asked by Wiki User

In accrual based accounting, expenses are recognized in the period in which they are incurred if measurable.

Why do people want to work in accounting field?

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Asked by Wiki User

An accountant can usually find work even in a bad economy.

An accountant can work in almost any industry, from operating their own business to working for any size company. An accountant can work in the private sector or any government sector.

Accountant jobs cover almost every business and industry setting, from keeping books for 'mom and pop' businesses to keeping books for Hollywood movie stars; from the military to scientific or educational institutions. There is no industry or organization that does not need an accountant.

How much money does an architect with an MBA earn?

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Asked by Wiki User

Salary, earning potential, and marketability are not only determined by the type of field you are in and the degree you possess. It depends on your position within that field, the institution you work for, your experience, expertise, personal abilities, critical thinking skills, problem solving abilities, dedication and commitment toward ones work, and more. Thus, salary is not so much dependent on the type of degree as much as it is dependent on the person who holds the degree. Still, if you have a specific occupational title, you can then retrieve the estimated mean annual wage particular to that occupation through the U.S. Department of Labor: Bureau of Labor Statistics.

Difference between international accounting standard and accounting theory?

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Asked by Wiki User

IFRSs refers to the new numbered series of pronouncements that the IASB is issuing, as distinct from the International Accounting Standards (IASs) series issued by its predecessor. More broadly, IFRSs refers to the entire body of IASB pronouncements, including standards and interpretations approved by the IASB and IASs and SIC interpretations approved by the predecessor International Accounting Standards Committee On the other hand by simple Accounting Standard we mean " Accounting Standard issued by the Institute of Chartered Accountants of India(ICAI)".

What interest you in a job?

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Asked by Wiki User

If this question is asked of you, you can tell them you enjoy working with people. You can also say you took classes in this topic or it has always been an interest of yours.

Why are you the right candidate for this position?

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Asked by Wiki User

Review the qualifications and requirements for the position for which you are applying before attending the job interview. Knowing what is required will make it easier to answer this question. You can match your skills and experiences with the job description.

Where can you find job application sample letter for accounting and bookkeeping?

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Asked by Wiki User

please check google and you can get thousands of sample letters, but make sure you use "sample application letter" as search key.

The role of Accountant in a modern business organisation?

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Asked by Wiki User

The accountant evaluates records drawn up by the bookkeeper and shows the results of this investigation as losses and gains, leakages, economies, or changes in value, so as to reveal the progress or failures of the business and also its future limitations and possibilities. Accountants must also be able to draw up a set of financial records and prescribe the system of accounts that will most easily give the desired information; they must be capable of arriving at a comprehensive view of the economic and the legal aspects of a business, envisaging the effect of every sort of transaction on the profit-and-loss statement; and they must recognize and classify all other factors that enter into the determination of the true condition of the business (e.g., statistics or memoranda relating to production; properties and financial records representing investments, expenditures, receipts, fiscal changes, and present standing). Cost accounting shows the actual cost, over a certain period of time, of particular services rendered or of articles produced; by this system unprofitable ventures, services, departments, and methods may be discovered.

What are the responsibilities of senior accountant?

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Asked by Wiki User

what are the responsibilities of a SENIOR EXECUTIVE of FINANCE / ACCOUNTS as a MBA Finance student with 2.5 yr Experience

What are the main duties of a cashier at Mcdonald's?

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Asked by Wiki User

The cashier is responsible for a successful checkout - which basically includes all the things the secret shopper is asked to look for.

eye contact, smile, greet, check out in a timely manner, careful packing, safeway and airmiles card, offer carry out, thank by name, parting comment.

most of the duties take place at the till, but the cashier may be asked to perform other duties depending on need, etc.

Other duties I've performed - trainee shadow (based on experience and seniority), wash tills (in the evening, when it's slow), face shelves (at slow periods, generally in the evening), stock shelves (based on staff/need), breaks (generally assigned to ~2 people per day, relieve other cashiers for their breaks), assist at customer service (requires some training, based on experience and seniority), collect coupons/put out call sheets (coupons daily in the evening, call sheets based on availability), assist customer service clerk with their duties (ie. changing changers, closing tills, etc), bagging for other cashiers (based on need for cashiers/how busy it is), etc.

most of these other duties occur in evening shifts.

What are the duties of a bookkeeper?

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Asked by Wiki User

A bookkeeper is the responsible for all the transactions taking place in the company, ultimately these transactions will be recorded in the accounts of the company's ledger. Bookkeepers are expected to be accurate, efficient, and knowledgeable about debits and credits, the chart of accounts, accounts payable procedures, sales and accounts receivable, payroll, and more. Each bookkeeper's specific responsibilities will vary by type and size of the business.


A bookkeeper is responsible for the daily expenditures and receivables of a business.

He or she balances the books.

What are the disadvantages of accounting software?

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Asked by Wiki User

Loss of Data or Service

  • When a business is reliant on accounting software, any loss of service due to a power or computer outage could cause a work disruption. Work disruptions can prevent the input of new information as well as prevent access to stored information. Additionally, if information is not properly backed up, a computer outage could result in lost financial data.
Incorrect Information
  • The information in an accounting system is only as valid as the information put into the system. Since most accounting systems require some manual input of data, financial results could be incorrect unless all input data is reviewed. If there is a tendency to only review the final reports or output of an accounting system, it may be difficult to find faulty information.
System Configuration
  • Every business has unique aspects that may cause difficulties when it tries to tailor a generic accounting software package to its needs. While customization is available for many programs, it may cause downtime and potential inaccuracies if not done correctly. Also, as a business grows, there may be a need to change accounting software packages; this could cause a large disruption, as information must be migrated and new training is needed for personnel.
Cost
  • A disadvantage of accounting software is the cost involved. Beyond the initial outlay to purchase the software there is the cost of maintenance, customization, training and computer hardware. While time savings may justify the cost, for some businesses it may take years before an accounting software investment pays for itself.
Fraud
  • Information stored electronically can be manipulated and accessed if proper controls and security measures are not in place. Strict controls are needed to make sure only authorized personnel use the accounting software and have access to reports. Since financial data can be sensitive and confidential, using accounting software creates the potential for fraud

How are layers used in a Flash document?

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Asked by Wiki User

Layer based animation is useful for creating complex projects. It makes drawings and eding easier

Help in creatin Sophisticated Effects

E.g Gude Layers, Mask Layers (for spot light effects)

What is the difference between tally 6.3 and tally 9.0?

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Asked by Wiki User

Basically their are no difference between any old version of tally & tally.erp9 because it is not different from its prior version but their are various additions to functionality & report capabilities that have been improved & are still getting improved / added even if you compare version 4.5 with erp9 all the things you could do in 4.5 you can do way better in erp9 & further assurance is that it will be improved to a lot more.

so don't look for differences look for additions. & to look for additions just take a look at the help file that comes with installer

Regards,

Hardik Mehta

Hardik Printers

Authorized Tally Service Partner, Tally Integrator

How do you transfer tally data in tally 9?

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Asked by Wiki User

It's possible in 2 ways:

1. Just open your company data in Tally 9.0, and you will see a message that says "Rewrite Version?".

Then, press the "Y" or "Enter" button.

Your data will then be transferred from 7.2 to 9.0.

2: Just open Tally 9.0 and press Alt+Clt+R (It's an option for rewriting the company).

Then, locate your 7.2 data destination and press "Enter".

The correct way of transfering data from 7.2 to ERP9.0 is using the Tally Data Migration Tool using which you can transfer data from 7.2 to Tally 9 this tool is available in your Tally installation directory called as TallyDataMigration.exe just take backup from 7.2 & then restore it using the tool & then ask the tool to migrate the data all your data would then start migrating from 7.2 to 9

How do you get an account?

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Asked by Wiki User

Why it's quite simple my friend, you simply press the create acount button next to the ask anser button!

What do i do in general ledger?

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Asked by Wiki User

General ledger is the book of final entry of all business transactions of a company. Primarily, any end balance from the said ledger of all accounts used by a particular business enterprise is the...The all important books in the financial transaction is known as ledger.A general ledger is a summary of all transactions that occur in a company (this is not entirely accurate, the general ledger shows you the balances and debits and credits to each specific account but..