Accounts Receivable Clerk Questions And Answers

21⟩ Explain about a situation when it was important for you to pay attention to details. How did you handle it?

When posting residents payments to their account/scanning checks. I ensure that the name, account number, routing number, check number and $amount balances what the check is for.

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22⟩ Tell me what Is The Table That Is Used For Aging Bucket Report, What Is The Main Purpose Of This Report?

Time periods you define to age your debit items. Aging buckets are used in the Aging reports to see both current and outstanding debit items. For example you can define an aging bucket that includes all debit items that are 1 to 30 days past due.

Normal table used for this Report is < 30 days 30-60 days 60-90 days 90-180 days and >180 days

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23⟩ Please explain a time when you took personal accountability for a conflict and initiated contact with the individual(s) involved to explain your actions?

A client I did billing for sent me work orders and didn't let me know of changes in billing charges so I billed at usual rate. Invoice was not excepted by company so I had to contact by email the owner and get correct service charges and re issue invoice.

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24⟩ Tell me do you have a particular strategy that you use to acquire payments from delinquent accounts?

Strategies need to be created according to each individual situation. I handle most situations by following up diligently and sending reminders. If neither works, I begin paperwork for the authorities’ intervention.

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25⟩ Explain The Difference Between Finance And Accounts? Most Of The Companies Having A Different Section Like Finance And Accounts. Why They Are Not Had Only Single Section Neither Finance Nor Accounts?

Finance:It is the branch of economics that studies the management of money and other assets.In simpler terms it can be defined as the commercial activity of providing funds and capital.It addresses questions like --what funds are required by the org? How they can be raised? How they have to be allocated etc

Accounts: It is the occupation of maintining and auditing records and preparing financial reports for a business. Accounts provides quantitative information about finances. It addresses issues like what amount of funds have been allocated to various activities how the book-keeping is being done etc

Both functions are distinct but complimentary to each other. Finance and accounts are highly specilized and distinct areas and hence most organizations have seperate sections of finance and accounts.

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26⟩ Tell me if you were CFO of our company, what would keep you up at night?

Step back and give a high level overview of the company’s current financial position, or companies in that industry in general. Highlight something on each of the three statements. Income statement: growth, margins, profitability. Balance sheet: liquidity, capital assets, credit metrics, liquidity ratios. Cash flow statement: short term and long term cash flow profile, any need to raise money or return capital to shareholders.

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27⟩ Why do you feel excellent accounts receivable execution is important for our business?

Support company objectives - positively impacting on company cash cycle, increasing cash flow - reducing bad debt.

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28⟩ Tell me how do you keep your manager informed about what is being done in your work area?

I make sure that I give follow up emails to my manage about the status of the job Which I am doing through regular e mails.

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29⟩ Tell me how many invoices on average do you handle on a daily/weekly/monthly basis? What are the steps you take before you approve an invoice for payment?

Show your understanding of the invoice verification process. Go through each step in detail such as checking that goods have been received in proper condition or services rendered in a satisfactory manner. Explain the importance of each step.

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30⟩ Suppose you Have Been Asked To Prepare A Bill For Services. What Information Should Be Included In The Bill?

☛ Service Provider's Details (i.e) Organations name and address.

☛ Service Receiver's Details (i.e) Organations name and address.

☛ Details of the service (i.e) for eg: Advertisement charges/Dying charges Tax (i.e) Service Tax on total chargable amount and cess or sur-charge on service tax.

☛ And if there is any Expenses or abatements incurred by the service receiver less all those things and calculate service Tax and the cess for the balance amount.

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31⟩ Operational and Situational Accounts Receivable Clerk Job Interview Questions

☛ What interests you about working in accounts receivable at a company like ours?

☛ What training or experience has prepared you for the role of accounts receivable clerk?

☛ In your own words, explain the accounts receivable process.

☛ What are the most important goals of AR?

☛ What types of financial statements or reports do you routinely prepare?

☛ What are the steps you would take to close the AR period?

☛ Describe your familiarity with accounting software. Which ones have you used?

☛ Describe a time you found a billing discrepancy. How did you resolve it?

☛ In as much detail as possible, describe the journal entry process from the time of generating an invoice to receiving payment.

☛ What is your role, if any, in the collections process?

☛ What’s the difference between back end collections and front end collections?

☛ What types of information do you include in a bill for services rendered?

☛ Recall a challenging problem you encountered as an accounts receivable clerk. How did you resolve it?

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32⟩ Explain about a time when you had to use your verbal communication skills in order to get a point across that was important to you?

Communicating information for the non for profit in which I volunteer. I only had a few minutes to explain why they should donate to me as opposed to any other group.

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33⟩ Explain about a recent invoice discrepancy you discovered and how you resolved it?

Be specific about the type of discrepancy. Discuss the steps you took to identify and sort it out such as obtaining and checking the original order. Focus on the skills required to resolve the discrepancy such as attention to detail, problem analysis and problem resolution.

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34⟩ What Are The Issues Related With Accounts Receivable?

As the Accounts Receivable Supervisor, you will:

☛ Oversee and resolve all issues related to cash application to ensure accuracy.

☛ Reconcile daily cash receipts to payment register.

☛ Design and implement new Accounts Receivable processes and procedures.

☛ Process short payment and accounts receivable adjustment forms.

☛ Develop and maintain reports to assess team productivity.

☛ Invoice special customer accounts.

☛ Supervise five Accounts Receivable Associates.

☛ Other duties as may be assigned.

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35⟩ Tell me what Is Effective Collection?

Its depends on the credit period of the company i.e. A company credit period 30 days 85 of the debtors collection should be recovered with in credit period. we can say the Effective collection.

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36⟩ Tell me which Type Of Assets Should Be Capitalized And When Expense Out?which Type Of Assets Expense Out Or When?

Assets are things which is provide service for long duration it may 3 years 4 years or for long period of time.

These items capitalize in our account books and charge depreciation in every year according to these rate it may 20 10 100.

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37⟩ Have you ever been in a situation where you had to bargain with someone? How did you feel about this? What did you do? Give an example?

No I didn't meet any thing like this before.

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38⟩ Tell us what makes you the best candidate for this position?

I've had numerous of years in this field and I feel I would be a good fit for this position.

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39⟩ Tell me what Is Total Flow Of Account Receivables?

Flow of Accounts receivable should be in proportion to Accounts payable i.e. in terms of ration 2:1

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40⟩ Tell me explain About Accounts Receivables In Accounting?

It is money receivable from sundry debtors for sales made or services rendered.

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Accounts Receivable Clerk

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75 Accounts Receivable Clerk Questions And Answers

21⟩ Explain about a situation when it was important for you to pay attention to details. How did you handle it?

22⟩ Tell me what Is The Table That Is Used For Aging Bucket Report, What Is The Main Purpose Of This Report?

23⟩ Please explain a time when you took personal accountability for a conflict and initiated contact with the individual(s) involved to explain your actions?

24⟩ Tell me do you have a particular strategy that you use to acquire payments from delinquent accounts?

25⟩ Explain The Difference Between Finance And Accounts? Most Of The Companies Having A Different Section Like Finance And Accounts. Why They Are Not Had Only Single Section Neither Finance Nor Accounts?

26⟩ Tell me if you were CFO of our company, what would keep you up at night?

27⟩ Why do you feel excellent accounts receivable execution is important for our business?

28⟩ Tell me how do you keep your manager informed about what is being done in your work area?

29⟩ Tell me how many invoices on average do you handle on a daily/weekly/monthly basis? What are the steps you take before you approve an invoice for payment?

30⟩ Suppose you Have Been Asked To Prepare A Bill For Services. What Information Should Be Included In The Bill?

31⟩ Operational and Situational Accounts Receivable Clerk Job Interview Questions

32⟩ Explain about a time when you had to use your verbal communication skills in order to get a point across that was important to you?

33⟩ Explain about a recent invoice discrepancy you discovered and how you resolved it?

34⟩ What Are The Issues Related With Accounts Receivable?

35⟩ Tell me what Is Effective Collection?

36⟩ Tell me which Type Of Assets Should Be Capitalized And When Expense Out?which Type Of Assets Expense Out Or When?

37⟩ Have you ever been in a situation where you had to bargain with someone? How did you feel about this? What did you do? Give an example?

38⟩ Tell us what makes you the best candidate for this position?

39⟩ Tell me what Is Total Flow Of Account Receivables?

40⟩ Tell me explain About Accounts Receivables In Accounting?

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Accounts Receivable Clerk

Home Accounting Accounts Receivable Clerk

75 Accounts Receivable Clerk Questions And Answers

21⟩ Explain about a situation when it was important for you to pay attention to details. How did you handle it?

22⟩ Tell me what Is The Table That Is Used For Aging Bucket Report, What Is The Main Purpose Of This Report?

23⟩ Please explain a time when you took personal accountability for a conflict and initiated contact with the individual(s) involved to explain your actions?

24⟩ Tell me do you have a particular strategy that you use to acquire payments from delinquent accounts?

25⟩ Explain The Difference Between Finance And Accounts? Most Of The Companies Having A Different Section Like Finance And Accounts. Why They Are Not Had Only Single Section Neither Finance Nor Accounts?

26⟩ Tell me if you were CFO of our company, what would keep you up at night?

27⟩ Why do you feel excellent accounts receivable execution is important for our business?

28⟩ Tell me how do you keep your manager informed about what is being done in your work area?

29⟩ Tell me how many invoices on average do you handle on a daily/weekly/monthly basis? What are the steps you take before you approve an invoice for payment?

30⟩ Suppose you Have Been Asked To Prepare A Bill For Services. What Information Should Be Included In The Bill?

31⟩ Operational and Situational Accounts Receivable Clerk Job Interview Questions

32⟩ Explain about a time when you had to use your verbal communication skills in order to get a point across that was important to you?

33⟩ Explain about a recent invoice discrepancy you discovered and how you resolved it?

34⟩ What Are The Issues Related With Accounts Receivable?

35⟩ Tell me what Is Effective Collection?

36⟩ Tell me which Type Of Assets Should Be Capitalized And When Expense Out?which Type Of Assets Expense Out Or When?

37⟩ Have you ever been in a situation where you had to bargain with someone? How did you feel about this? What did you do? Give an example?

38⟩ Tell us what makes you the best candidate for this position?

39⟩ Tell me what Is Total Flow Of Account Receivables?

40⟩ Tell me explain About Accounts Receivables In Accounting?

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