Category Archives: Accounts Payable Interview Questions

What are steps to define supplier? | Accounts Payable Questions

Supplier should follow the check list: 1 He should create confidence in the client mind 2 Services to be done (fulfilled in time) 3 Services to be done according the specification of the client 4 He should be placed the … Continue reading

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Find the below accounts payable questions? | Accounts Payable Questions

1. If assume we paid 50/- as an advance for worth or 100/- goods, but our supplier sent only up to 25/- worth of goods. Know my question is that we want to close the transaction now. How it possible? … Continue reading

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What steps would you take before making a payment? | Accounts Payable Questions

1. We should verify that any advances have been made. 2. See that all the services/goods delivered according to bill 3. Any query is there to attend on that ultimately can be made payment

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What is meant by liabilities? | Accounts Payable Questions

Liabilities are what all u owe from the bank on notes payable or in other words it is: Liability=Asset-Owners equity What company owes that is liability. Liability = Asset-capital

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What is debit and credit from the banks point of view? | Accounts Payable Questions

Credit what comes in Debit what goes out

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What is FBT (Fringe Benefit Tax)? | Accounts Payable Questions

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.  

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What do you understand by Intercompany Settlement? | Accounts Payable Questions

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 … Continue reading

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What is an IFA? | Accounts Payable Questions

Institute of finance & accounts.

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What do you mean by WCC? | Accounts Payable Questions

Winter compensation from contributions.

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What do you understand by Open Item Managed Account? | Accounts Payable Questions

Open item management ensures that all items that have not yet been cleared are available in the system. Only after every open item in a document is cleared can a document be archived.

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