P2p interview questions and answers pdf

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p2p interview questions and answers pdf

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It is collected by VAT-registered traders on their supplies of goods and services effected within the State, for consideration, to their customers. What is the end to end AP process explain briefly? Accounts Payable process starts with Purchasing and ends payments to Vendors.

Accounts Payable Interview Questions

It is collected by VAT-registered traders on their supplies of goods and services effected within the State, for consideration, to their customers. What is the end to end AP process explain briefly? Accounts Payable process starts with Purchasing and ends payments to Vendors.

Workflow is: Purchasing team receive requests-Initiate for quotations from vendors-Purchasing team creates Purchase Order, once the quotation is finalized and obtained all required approvals-PO copy would be sent to Vendor-Vendor will raise an invoice and submit to accounts Payable-Accounts Payable key invoice into ERP-Once the invoice falls on the due invoice will get paid. Do you know how to debit the bank cash book upon withdrawn of cash from the bank? When we have received the amount from a bank that is a debt to a banker.

Is This Answer Correct? What is three Way Matching Concept? When we creating the invoice in 3-way matching invoice price and no price receipt price should be matched. Tell 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.

What are the 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. Tell me what mandatory fields to be entered while processing invoices? What is the Non-PO invoice? For Services, the Po is not required. It is based on Agreement. What is PO invoice? In the po, there is no matter of the final amount.

It is just the approximate amount. What are the accounts payable process and its impact on the business? Then Accountant Book the invoice. After booking the Expenditure based on the P. O terms and conditions, the payment will release. If we pay the amount through the cash, we need the working Capital.

Do you know the purchase of the car would be a debit or a credit to a bank? Credit to the bank. Do you know what is interest on capital?

Interest on capital is where the extra you receive on the total amount you invest in a business. Do you know what is TDS? How to charged it? TDS stands for Tax Deduction at the source. It charged on the source of income ex. From which account the prepaid expenses comes in personal, real or nominal? When u add any prefix or suffix to nominal account it becomes a personal account. No doubt expenses are the Nominal account but when u add prepaid or outstanding verbiage it becomes personal.

For what purpose we are exactly using reversal journal entry? We key this journal entry to include the expense for the month and it reversed when the actual expense comes. Tell me what are the journal entries that will be passing from the Goods received till the payment made to the supplier?

Goods Received Ware House 1. Register in our system Dr. Paid Dr. How would you enter this into a journal entry? Tell me who is department approver and releaser? Department Approvers and Releasers are assigned by the Finance Directors. Please contact your Finance Director if you are unsure of your Approver or Releaser.

What is pro forma? A pro forma invoice is a price quote and subject to change. Accounts Payable Services does not pay from pro forma invoices, statements, quotes or estimates. What is invoice? An invoice is an official document from a supplier requesting payments for goods or services rendered.

For submitting multiple invoices for one supplier which is the correct form? Why does the registration form need to be completed by a supplier? Before a vendor can receive payment, they must register as a GW-approved supplier. Tell me the process for creating a Purchase Order? What is the payment request? What is a purchase order? Do you know when purchase order required? Most payments require a purchase order, including Honorariums paid to commercial vendors.

However, the following do not require a purchase order: advertising, dues and memberships, G-World, insurance, legal fees, permits, postage, rent, settlement payments, subscriptions, taxes, and utilities. When I have already sent in the invoice why is a Payment Request Form required? When payment request form required? Someone other than the individual getting reimbursed must approve reimbursements.

The electronic RFP system automatically checks for invoice approval. If a particular vendor requests payment for a larger number of rounded invoices this is worthy of further investigation. This mathematical law states that in a list of numbers within a data set the leading digit is distributed in a specific, non-uniform way. What this means is that in a data set of numbers from one through nine the odds of the number one appearing are different than the odds of the number nine appearing.

The odds of the number one appearing is around 30 percent, decreasing as the digits increase until reaching nine which appears less than five percent of the time. How to monitor duplicate payments? They may or may not be fraudulent, but if duplicate payments slip through the cracks a less than scrupulous employee may see this as an opportunity.

Estimates of duplicate payments made by the average company today are in the two percent range. Do you know about separate responsibilities? How to speak to your vendors? In the case of Advance Publications, many months went by between the time the fraudulent payments began and the time the two companies started talking to each other.

Call your top five vendors regularly to ensure that everything is running smoothly. One phone call could prevent a multimillion-dollar embarrassment. Are you applying for some other jobs? Be honest do not spend a lot of time in this question area. Why do you want to work here?

I have heard about that currently the only your company is giving a chance to develop a career with the best training and development policy. What are your strengths as an accounting professional? Try to make your strengths relevant to the job requirements. This list of strengths is a useful resource for answering interview questions about your strengths.

Identify your top transferable competencies from your previous work and life experience and provide the right answer to the frequently asked interview question.

Tell me what was your average accounts receivable days outstanding? If relevant, discuss any corrective action taken to reduce this figure. Tell me about that information which is included in a bill for services?

List the information, make sure you cover everything and highlight your attention to detail. Include a sample of a bill for service that you created in your interview portfolio. Tell me about those software applications which 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.

What role you can play in collections? Again focus on the skills and abilities you bring to the collections function. Demonstrate how you have used your good interpersonal skills, perseverance, ability to managing conflict, negotiation skills and communication ability for successful collections. How did you manage the problem if you been involved in an invoice dispute? Accounting job interview questions like this explore your conflict management skills.

Emphasize your interpersonal skills, your maturity and your ability to stay calm in the face of difficulty.

125 Top Accounts Payable Job Interview Questions and Answers

Accounts payable AP is more important than ever in the modern marketplace. Businesses who want to compete effectively while keeping costs low and value creation high need to assemble strong teams with not just accounting acumen, but a grasp of existing and emerging technologies. Building these teams begins with job interviews for accounts payable clerks and specialists. With the right accounts payable interview questions, you can identify job seekers with the skills and experience necessary to optimize your AP function for maximum value, accuracy, and efficiency. Working in tandem with the procurement function, the role of the accounts payable function has evolved from a cost-savings paradigm to one built on preserving and generating value for the organizations they support. But with the growing influence of digital transformation on everything from internal compliance to profitability and competitive agility, accounts payable clerks and specialists are expected to have, or obtain, more technical know-how than ever before, including new methods for optimizing everyday tasks in order to support organizational goals. These expectations also include a fundamental grasp of important concepts and technologies such as process optimization, workflow automation, artificial intelligence, and deep data analytics as essential tools of the trade for modern AP.

The MM module contains master data, system configuration and transactions to complete the procure to pay process. Determine requirements Source determination Vendor Selection Order Processing Order follow up Goods receipts and Inventory management Invoice Verification 3 Mention what are the types of special stock available? The types of special stock available are subcontracting, consignment, project, pipeline, sales order, stock transfer, returnable packaging with customer, etc. The critical fields in purchasing view are Base unit of measure Order unit Purchasing group Material group Valid from Tax indicator for material Manufacturer part number Manufacturer, etc. A batch tells about a quantity of a particular product, which is processed or produced at the same time with the same parameters. The materials produced in such batch have the same values and characteristics.

Accounts payable specialist positions require superb organization skills to keep track of financial documents. While many of the technical skills accounts payable specialists use every day can be learned on the job, organization is more difficult to teach. Highly organized candidates will cite specific strategies they use to stay organized while less organized candidates will have a more general response to this question. What to look for in an answer:. Accounts payable specialists are often tasked with maintaining vendor relationships through prompt payment of bills and careful handling of billing discrepancies. Most companies have clear policies on how to record and reconcile account discrepancies.

p2p interview questions and answers pdf

Searching for an Oracle Procure Pay job? If you are an expert in Oracle Procure Pay then this is for you. If you are preparing for Oracle Procure Pay job interview, we will help you in clearing the interview through Wisdomjobs interview questions and answers page. Oracle Procure Pay is a process where the goods are purchased at a vendor and Paying the supplier with the required funds.

Top 25 Accounts Payable Interview Questions & Answers

COMMENT 3

  • Accounts Payable Interview Questions And Answers A Payment Request Form (PDF) is required when an invoice does not contain a valid invoice number. A valid (P) and ends with Payments (P), hence this process also named as to P2P. JГ¶rg F. - 14.05.2021 at 14:17
  • Core java book by kathy sierra pdf download advanced mathematics precalculus with discrete mathematics and data analysis pdf download Joy P. - 15.05.2021 at 06:36
  • TDS is tax charged by the customer who gets the services from Vendor or supplier. Ralf S. - 17.05.2021 at 00:54

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