Written on Feb, 09, 2013 by in

As we know that stock is treated as good as cash. Like a cashier is responsible for even a single penny,  the store department is also held responsible for every thing relating to storage of material. Following points must be kept in mind by a store in-charge in respect of maintenance of stock items:- Store keeper must be technically qualified …

Written on Feb, 09, 2013 by in

Material Receipt Challan is also known as Store Receipt Challan or Goods Receipts Challan. Store receipt challan shows the receipt of store items by store department. When material is purchased, first of all purchase order is placed on the supplier of goods. One copy of purchase order is given to store department. After the material is received in store department …

Written on Feb, 09, 2013 by in

Delivery Challan is also known as Dispatch Challan. Delivery challan shows the issue of store items by store department. When material is sold to customer or transferred to other branch, or material is returned to the supplier then delivery challan is prepared by store department. In sale transaction first of all purchase order is received from customer by sales department. …

Written on Feb, 03, 2013 by in

It is true that a business concern is depend on the sales of the firm. That is why a very very importance is given to the sales department. But accounts department is also as important as sales department.  As we know that accounts is an endless job. Accounting work starts right from opening of the office and closure of office. …

Written on Feb, 03, 2013 by in

FILING OF ACCOUNTING RECORDS:- Filing is an art and every accountant must understand this art properly. All accounting records must be filed in such a manner so that they can be traced any time without wasting extra time. Before the accounts records are filed’ following points must be kept in mind:- All records and vouchers must be filed date wise. …

Written on Jan, 30, 2013 by in

Whenever any body applies for any post in accounts department, he/she has to submit his/her application showing his/her personal details.  In my view, while you apply for any post, your bio-data should be very compact and meaningful and should be able to show all required details. Please do not try to hide any thing. Be very clear. The details given …

Written on Jan, 30, 2013 by in

Allocation of the work of accounts in to account staff, depends on quantity of work and size of business firm. It also depends upon the nature of transactions. For example – we take the example of a departmental store. There, so many bills or cash memos are prepared for various transactions whether small or big. While, if we take the …

Written on Jan, 30, 2013 by in

HOW TO RECRUIT ACCOUNTS STAFF:–  Accounting staff can be selected from the following sources:- Through Placement Consultants:- There so many placement agencies in India and abroad who provide their services to select proper staff for business firms. They charge their consultancy charges for their services. There are following benefits in selecting the staff through the placement consultancy:- The consultancy services …

Written on Jan, 30, 2013 by in

HOW TO DELEGATE THE AUTHORITIES TO ACCOUNTS PERSONEEL IN ACCOUNTS DEPARTMENT:-  As we know that the accounts department is very responsible department and we call it backbone of the company. Every financial transaction affects the financial status of a business firm. So, it is great responsibility of accounts department to be very careful at each and every step. The persons, …

Written on Jan, 20, 2013 by in

What is Purchase Import? When we purchase goods from out of our country that is called Purchase Import. For example we are living in India and we are importing goods from China then this purchase shall be treated as Purchase Import. Following payments are included in Purchase Import Account:- Cost of material. Custom Duty on material purchased. Freight and cartage …


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