Accounting and Finance Questions

A savings vehicle is a bank account that's used to hold your savings.

The basic saving vehicles include :

Savings accounts,

Money market accounts,

Certificates of deposit, and

Stock market.

Other things the same, when the interest rate rises people would want to lend more, making the quantity of loanable funds supplied increase.

Open Market Operations (OMO) refer to the buying and selling of government securities in the open market in order to expand or contract the amount of money in the banking system.

Professional Tax

ESI

PF

Recoveries

Advances if any

Enterprise systems (ES) are large-scale application software packages that support business processes, information flows, reporting, and data analytics in complex organizations.

For making accounting entries the accounting dept will need the total transactions of the particular payroll run grouped into various expenditure/liability/Income items like salary,loans,ees pension,ers pension,tax, PF/NI etc. This information should be employee wise & relevant cost center of the employee(in a large organisation).

Mostly payroll will have expenses/liabilities only. Few payrolls might have Income also.

To be specific to the reports bit of your question following reports are produced

1) Net pay reconciliations report
2) Deductions report comprising all voluntary and non voluntary deductions
3) Payments report
4) Costing report
5) Exceptions report
6) High pay salary report
7) No pay salary report