Accounts payable interview questions and answers pdf

Learn Accounts Payable basic and advance concepts by out Accounts Payable Interview Questions and Answers Guide.

List of Accounts payable interview questions

• What is a Work flow? And take Retail shop as example and explain the Work flow of the Retail shop?
• What is the difference between Payments-Liquidation(Disbursements) & Dividend Warrants Liquidation?
• What are the steps involved in finalization?
• What is Component Level Default Processing?
• What entry is recorded when $75.00 worth of supplies are purchased on account?
• What items would you verify when processing an expense report /invoice for payment?
• what type of account appear on a post closing trial balance?
• What do you mean by price variation in Purchase Invoice?
• How to account freight cost, handling charges, purchase tax at the time of raising a Purchase Order?
• What is a Non-PO Invoice?
• When setting up Purchase items for overhead expenses (G&A expenses) what expense GL account do you use, and what sales account GL do you use? Also, what are roll up accounts in the chart of accounts?
• What is the Debit Balance recovery? How we can recover if we wont have any future transactions from supplier?
• What do you mean by Mischarge Correction?
• What items would you verify when processing an expense report / invoice for payment?
• What items of information do you need before you can approve an invoice for payment?
• Tell us about an invoice discrepancy that you discovered and how you resolved the discrepancy?
• Why does a company/business require an Accounts payables process?
• Which are the main MIS Reports of an accounts department & what the format of preparing the MIS?
• What documents are required before verifying invoice? what is the process if the supplier passes an invoice for more amount?
• What is difference between account payable and bills payable?
• What is Reconciliation Statement?
• How does the payment mechanism work?
• Which area of accounting are you strongest? Which area of accounting would you like to improve?
• What is the meaning of TDS? How it is charged?
• What is interest on Capital?
• What is another name for a real account in accounting? is it a permanent account or a temporary account?
• What is consolidation?
• What is different between automatic Payments Batches and automatic payments?
• What are steps to define supplier?
• What steps would you take before making a payment?
• What is debit and credit from the customer point of view?
• What is debit and credit from the banks point of view?
• What do you understand by Intercompany Settlement?
• What is the difference between EFT & Wire?
• What is the difference between Consiner and Consinee?
• What steps would you take before approving an invoice for payment?
• How to pass a JV when we receive bill including service tax? How to close this a/c?
• What is 3 Way Matching?
• What is Q-point?
• What steps would you take before approving an invoice for payment?
• What is the difference between billable and non-billable expenses?
• Tell us about an invoice discrepancy that you discovered and how you resolved the discrepancy?
• what is the difference between debenture and preference share?
• What is STPI ? why STPI knowledge required in Accounts Payable?
• Why does a company/business require an Accounts payable process?
• What is the full form of the trem WIRE in wire payment ? Explain the process for making and receiving the payment through WIRE?
• What is a tolerance limit with respect to invoice processing?
• What is debit and credit from the banks point of view?
• In the invoice, the value of the tax code is not present but in the idoc the value of the tax code is present. How to populate it in the invoice using the IDOC?
• Please explain end to end process of accounts payable?

The interview questions below can be used during Accounts payable phone interview, Accounts payable second interview, Accounts payable behavioral interview (competency based interview), final interview…They can be used for both employer and candidate.

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