Century IT Solutions Accounts Payable Associate Interview Questions and Answers

Vendor payments are released after invoice processing is completed and approved.

• Verify accuracy of invoice details and match with purchase orders

• Obtain necessary approvals from relevant departments

• Enter invoice information into accounting system

• Schedule payment based on payment terms agreed with vendor

• Release payment through approved payment method

• Maintain records of payments made for reconciliation purposes

Accounts Payable 2 way-3 way matching is a process used to ensure that the purchase order, invoice, and receiving report all match before payment is made.

• Accounts Payable 2 way-3 way matching involves comparing the purchase order, invoice, and receiving report to ensure accuracy.

• In a 2-way match, the invoice is compared to the purchase order to ensure the prices and quantities match.

• In a 3-way match, the invoice is com...read more