Accounting entry for purchases and inventory

Entries will depend on the system maintained by the business such as periodic or perpetual.

What do I need to know exactly if my job requires basic bookkeeping knowledge?

Please always start your own thread instead of attaching to someone else's, especially when it's not even the same topic.

What you need to know will depend very much on the person doing the hiring. To me basic bookkeeping would include knowing how to do basic journalizing, including the normal day-to-day entries required by that kind of business. That is, all companies will have receivables and payables to deal with, certain purchases, some type of revenue, etc. But if it's retail, that would also entail merchandising issues, or a restaurant might include dealing with a daily cash drawer report, etc.

However... since companies are mostly using software, you might not even be required to know debits & credits, because you may instead enter all payments through the check payment section, and doing customer invoices through the invoicing section, etc. It may not include any work in the general ledger itself. But that would still require a basic knowledge of where you need to charge things.

It very likely could include dealing with receivables and payables, that is, the internal end of that. Like entering all the invoices that come in, knowing what asset or expense to charge them to, then doing a weekly or monthly check run, etc. That type of thing.

Many times a basic bookkeeping job does not require knowledge about adjusting entries and instead everything goes to an accountant every month to do that and the bank rec. And you may or may not be required to know how to do payroll.

On the other hand, someone could think "basic" means someone with two years of accounting eduation and expect you to do all entries, and adjusting entries, and payroll, and who knows what. I wouldn't call that "basic" but someone might.

As you can see, it really is just going to depend upon the company and what they expect in that position. Making it even more difficult for anyone else to tell you is the fact that whoever decided it was a "basic bookkeeping" job might not have any flipping clue what they are talking about. I once saw a resume on which someone said they'd been an "accountant" on a previous job and all they did was put a bunch of statistical data together. Perhaps it wasn't an easy job, I don't know, but it wasn't accounting. If that's the person doing the hiring, maybe you'll be putting statistical data together.

In the end, you really just need to get a list of the job responsibilities from the company. If you can't get that, you can only apply and see what happens.

Do you have any more details about the job? And can you give some basics on your education and/or experience? That might help. But really, when it comes down to it, it's hard telling what someone might mean - depends if they know what they are talking about.

What is the accounting entries for donation both Journal Voucher & payment entries

What is the accounting entries for donation both Journal Voucher & payment entries

Naazaltaf, this is not the correct place to post your thread. Please send in your problem separately. It seems you have not read the posting guidelines. Please do that.