81⟩ Explain what is credit from the banks point of view?
When we deposited amount in bank that is credit as per bank books.
Accounts Payable Clerk
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“Clerk Accounts Payable related Frequently Asked Questions by expert members with job experience as Accounts Payable Clerk. These questions and answers will help you strengthen your technical skills, prepare for the new job interview and quickly revise your concepts”
129 Accounts Payable Clerk Questions And Answers
82⟩ Explain what is the meaning of invoicing?
Expect questions about your methods for approving and paying invoices. The hiring manager might ask, “Do you have experience creating, approving and paying invoices?” Or, “How do you handle conflicts with invoices?” A potential employer wants assurance that you are comfortable with the invoicing process and have ways to verify the authenticity and accuracy of each invoice. Detail the steps you take before approving an invoice, such as verifying vendor account numbers, double checking amounts owed and making sure funds are available to cover the expenses. If asked how you deal with incorrect invoices, provide an answer or a work-related example that demonstrates your ability to quickly and efficiently resolve conflicts.
83⟩ Tell me what is three Way Matching Concept?
When we creating the invoice in 3-way matching invoice price and po price receipt price should be match.
84⟩ Explain from which account the prepaid expences comes in personal, real or nominal?
Its an Personal account. When u add any prefix or suffix to nominal account it becomes personal account. No doubt expenses is the Nominal account but when u add prepaid or outstanding verbiage it becomes personal.
85⟩ Explain about Electornic Payment Method?
Electronic An electronic funds transfer to the bank of a supplier.You create electronic payments either through the e- Commerce Gateway, or by delivering a payment batch file to your bank. For both methods, Payables creates a file during payment batch creation. If you are using the e-Commerce Gateway to create the file of payments, an EDI translator is required to create the EDI Formatted file prior to delivering it to your bank.For electronic funds transfers, the file is formatted and delivered to your ap.out directory for delivery to your bank.
86⟩ Tell me do you know what is reimbursements for dinner/lunch meetings?
► The purpose of the meeting (i.e., content of discussion).
► A list of attendees (names or group association).
► Itemized receipts with requests for payments.
► The date and location of the meeting, if not self-evident.
87⟩ Explain what are your carreer goals?
► Study for an MBA certificate.
► Become specialist in the sector.
► Get the title of ABC something.
88⟩ Tell me for submitting multiple invoices for one supplier which is the correct form?
The Multiple Invoice Form (PDF) is used to submit more than one invoice to the same supplier. This form should be attached to the Payment Request Form (PDF).
89⟩ Tell me what do you mean by WCC?
Winter compensation from contributions.
90⟩ Tell me what form do I use?
► Goods and Supplies from an outside vendor send a requisition to Purchasing.
► Honorarium, Prize, Scholarship, Stipend, or Refund send a Check Voucher form to Accounts Payable.
► Pay non Tufts employees for a Consultant Service; a requisition to Purchasing.
91⟩ Explain me why do you want to work here?
I have heard about that currently the only your company is giving a chance to develop career with best training and development policy.
92⟩ Tell me what is payment request?
A Payment Request Form is used to submit an invoice for payment to Accounts Payable Services.
93⟩ Explain me with what accounts payable applications are your familiar?
With accounting job interview questions like this first list the applications you have used and then expand on the value of the solutions they offered to your particular business. Look at aspects such as managing vendor information, approval controls and providing payables reports.
94⟩ Tell me how is a PO (Purchase order created)?
A document or form used by a customer to issue an order for goods or services.
I want notes on
1.Procure to pay cycle with accounting entries
2.order to cash
3.record to report
4.Sox
95⟩ Tell me what is Accounting Software?
A hiring manager likely will ask questions about your experience with accounting software. Expect questions such as, “What type of accounting software have you used?” Or, “What is your experience with modern accounting software?” Bookkeepers and accounts payable clerks use advanced accounting software to organize vendors, print checks, keep up with invoices and maintain a running balance in each account. An employer might expect a job candidate to have experience with a particular software program, such as QuickBooks or Sage. However, most accounting programs have similar functions, so familiarity with any program might be sufficient.
96⟩ Tell me what is accounts payable cycle?
Demonstrate your knowledge of this cycle – the length of time it takes the company to pay its accounts payable – and what the implications of the length of this cycle are for the company, for example cash flow.
97⟩ Explain me do you have willingness to learn?
The interviewer may ask, “How willing are you to learn and grow in a new work environment?” Or, “Are you willing to learn new accounts payable procedures?” Employers want workers who have necessary skills, but they also want employees who will fit in well with current staff and embrace company culture. By expressing your willingness to learn new financial procedures or new accounting software programs, you show the employer that you are flexible and teachable. You also come across as a team player.
98⟩ Tell me 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.
99⟩ Explain 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.
100⟩ Tell me what software applications have you used for accounts receivable?
List the applications you have used and expand on the value of the solutions they offered to your particular company. Look at aspects such as tracking transactions, assessing late payments, creating past due notices and printing out relevant reports.
