Conduent Senior Process Associate Interview Questions, Process, and Tips

P2P cycle refers to the Procure-to-Pay cycle, which is the process of purchasing goods or services and paying for them.

• The cycle starts with identifying the need for a product or service

• Then, a purchase order is created and sent to the supplier

• The supplier delivers the goods or services and sends an invoice

• The invoice is verified and approved for payment

• Finally, payment is made to the supplier

• Examples include ordering ...read more

Credit note is a document issued by a seller to a buyer, indicating that a certain amount has been credited to the buyer's account.

• It is a document issued by a seller to a buyer

• It indicates that a certain amount has been credited to the buyer's account

• It is issued in case of returns, cancellations, or overpayments

• It serves as evidence of the transaction and helps in accounting and tax purposes

A debit note is a document sent by a buyer to a seller, indicating that the buyer is returning goods or owes money to the seller.

• It is a form of communication between a buyer and a seller

• It is used to indicate that the buyer is returning goods or owes money to the seller

• It includes details such as the reason for the debit note, the amount owed, and the date of the transaction

• It is often used in business-to-business tra

Prepaid expenses are expenses paid in advance but not yet incurred or used.

• Prepaid expenses are recorded as assets on the balance sheet until they are used or expire.

• Examples of prepaid expenses include prepaid rent, insurance premiums, and subscriptions.

• They are typically amortized or expensed over the period in which they are used or consumed.

• Prepaid expenses can provide a company with a cash flow advantage by allowi...read more