Accenture Transaction Processing Associate Interview Questions, Process, and Tips

Accounts payable is the amount of money a company owes to its vendors or suppliers for goods or services received.

• It is a liability on the company's balance sheet

• It includes invoices that have been received but not yet paid

• It is an important aspect of cash flow management

• Examples include rent, utilities, and inventory purchases

Three way match is a process of matching the purchase order, goods receipt, and invoice to ensure accuracy and prevent fraud.

• It involves comparing the purchase order with the goods receipt to ensure the correct items and quantities were received.

• Then, the invoice is compared to the purchase order and goods receipt to ensure the correct prices and terms were applied.

• If all three documents match, the invoice can be appro...read more

An invoice is a document that lists the goods or services provided by a seller and the amount owed by the buyer.

• An invoice is a bill for goods or services provided by a seller to a buyer.

• It includes details such as the quantity, price, and description of the goods or services.

• Invoices are used to request payment from the buyer and serve as a record of the transaction.

• Examples of invoices include bills from utility comp...read more

Final account and balance sheet are financial statements used to summarize a company's financial position.

• Final account is a statement of all the accounts in a ledger, showing the balances of each account.

• Balance sheet is a financial statement that shows a company's assets, liabilities, and equity at a specific point in time.

• Final account is prepared before the balance sheet.

• Balance sheet is prepared after the final ac...read more