Personal Accounts

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“Personal Account Frequently Asked Questions in various Personal Accounts Interviews asked by the interviewer. So learn Personal Account with the help of this Personal Accounts Interview questions and answers guide and feel free to comment as your suggestions, questions and answers on any Personal Accounts Interview Question or answer by the comment feature available on the page.”

26 Personal Accounts Questions And Answers

2⟩ Explain what is the difference between SAP memory and ABAP memory?

SAP Memory: Global, user-related memory that extends beyond transaction limits. Access to the SAP memory is via SPA/GPA parameters.

ABAP Memory: Memory area within each main session, which can be accessed by programs using the EXPORT and IMPORT statements and which remains available using a series of program calls (call sequence).


3⟩ Tell us what do you understand by Intercompany Settlement?

A key functional area of SAP for Utilities that supports cross-company exchange of settlement data based on international standards such as EDI, XML, and Microsoft Excel.

Intercompany data exchange manages data transfer between retailers, distributors, and independent service operators with special regard to the requirements in deregulated markets.


4⟩ Explain what is the difference between billable and non-billable expenses?

Billable expenses are the expenses incurred by you on behalf of your customer in performing duties / service and supply. These expenses are recoverable from your customer by way of billing.

Non-billable expenses are the expenses incurred by you for carry out your own business / duties and responsibilities.


5⟩ Explain us what is the meaning of invoice?

Invoice is a statement which contains the under mentioned details compulsorily.

1. Invoice Number

2. Invoice date

3. Name and address of the person

Name and address of the person to whom invoice is made. ( Buyer of goods and service)

5. Description of goods / services involved

6. Applicable rates and taxes with percentages

7. Rate of the goods / services

Quantity of the goods and services

9. Quality or any other specifications

10. Price / Value of the goods and services

11. Invoice must be signed by the person making it

12. Terms and conditions of making the payment


9⟩ Explain how does the payment mechanism work?

The open items of an account can only be cleared once you post an identical offsetting amount to the account. In other words, the balance of the items assigned to each other must equal zero. During clearing, the system enters a clearing document number and the clearing date in these items. In this way, invoices in a vendor account are indicated as paid, and items in a bank clearing account are indicated as cleared.

You generally use the payment program to clear invoices. Manual clearing of open items is therefore not usually necessary. However, you will sometimes have to clear items manually if, for example, you receive a refund from your vendor or you have set up a direct debit procedure.


10⟩ Explain what steps would you take before approving an invoice for payment?

Following steps should be taken..

► Validate the invoice once it is matched for checking any holds..

► If workflow is implemented , initiate approval for the invoice. Once the invoice is approved/Approval not required(status in case WF is not implemented) you can go for payments.

► Create accounting after approval of invoice..

Finally for payments u need to format, build.


12⟩ Explain what is FBT (Fringe Benefit Tax)?

The tax payable on a non-salary benefit provided to an employee or an associate of the employee. The employer is liable to pay any FBT and may choose to recover the FBT amount from the employee.


14⟩ What is Personal Account?

Personal Account is an account for use by an individual for their own needs. It is a relative term to differentiate the said accounts from those accounts for corporate or business use.


15⟩ What is a personal account?

A personal account is an account for use by an individual for that person's own needs. It is a relative term to differentiate them from those accounts for corporate or business use. The term "personal account" may be used generically for financial accounts at banks and for service accounts such as accounts with the phone company or even for e-mail accounts.


16⟩ What can the personal accounts focus on?

Personal accounts can focus on particular events or may cover a life more completely. They sometimes involve recollections focused on extraordinary events such as participation in wars or catastrophic events or explanations of unusual experiences. More recently, historians have begun to note everyday experiences as a measure of social order, so personal accounts can provide information on a particular "slice of life," explaining the circumstances of coming of age experiences or the way of life in a specific region. Personal accounts have also been an integral part of oral history studies in regions that lack a legacy of written history. Many recent African histories rely on personal accounts to trace family and community connections.


17⟩ Tell me what are individual retirement accounts?

Individual retirement accounts allow you to save independently for your retirement. These plans are useful if your employer does not offer retirement benefits or you want to save more than your employer-sponsored plan allows. These accounts come in two types: the traditional individual retirement accounts and Roth IRA. The Roth individual retirement accounts is popular because the funds can be withdrawn tax-free in many situations. Others prefer traditional individual retirement accounts because these contributions are tax-deductible. Both accounts have contribution limits and other requirements you may need to discuss with your tax advisor before choosing your account.


18⟩ How do personal accounts have impact on your life?

All personal accounts imply motivation on the part of the subject. A written document implies a certain level of literacy and an attitude of self-reflection. Orally recorded accounts require a vehicle of transmission, perhaps a scholar who records interviews with an individual. Sometimes oral interviews are recorded among family members or among people who share a particular cultural value, such as Appalachian mountain musicians. Sometimes an individual makes his or her own recordings or videotaped personal accounts.


19⟩ What is interest-bearing checking account?

In contrast to "no frills" accounts, these offer a more comprehensive set of services but usually at a higher cost . Also, unlike a basic checking account, you are usually able to write an unlimited number of checks. Checking accounts which pay interest are sometimes referred to as negotiable order of withdrawal accounts. The interest rate often depends on how large the balance in the account is and most charge a monthly service fee if your balance falls below a preset level.


20⟩ Do you know what is saving account?

A savings account allows you to accumulate interest on funds you have saved for future needs. Interest rates can be compounded on a daily, weekly, monthly or annual basis. Savings accounts vary by monthly service fees, interest rates, method used to calculate interest and minimum opening deposit. Understanding the account's terms and benefits will allow for a more informed decision on the account best suited for your needs.