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EXL Service Accounts Payable Associate Interview Questions and Answers
7 Interview questions
P2P cycle refers to the Procure-to-Pay cycle, which involves the entire process of purchasing goods or services from a supplier to making the payment.
The P2P cycle starts with the identification of a need for goods or services.
Next, a purchase requisition is created and approved by the appropriate authority.
A purchase order is then issued to the supplier, detailing the goods or services required, quantity, price, ...
The accounts payable cycle involves managing and processing vendor invoices to ensure timely payments and maintain accurate financial records.
Invoice Receipt: Collect invoices from vendors, ensuring they are accurate and match purchase orders.
Invoice Approval: Route invoices for approval from relevant departments to confirm receipt of goods/services.
Payment Processing: Schedule and execute payments based on terms,...
The general entry for bank interest is to debit the bank account and credit the interest income account.
Debit bank account
Credit interest income account
Interest income is recorded as revenue
Bank account is reduced by the amount of interest paid
Example: Debit Bank Account $100, Credit Interest Income Account $100
Deferred income is a liability that arises when a company receives payment for goods or services that it has not yet delivered or rendered.
Deferred income is also known as unearned revenue.
It is recorded as a liability on the balance sheet until the goods or services are delivered or rendered.
Once the goods or services are delivered or rendered, the deferred income is recognized as revenue on the income statement.
...
What people are saying about EXL Service
Accounts payable is the amount of money a company owes to its vendors or suppliers for goods or services received.
Accounts payable is a liability account in the company's balance sheet
It includes invoices, bills, and other expenses that are yet to be paid
It is important to manage accounts payable to avoid late payments and maintain good relationships with vendors
Examples of accounts payable include rent, utilities...
Accounts payable involves two parties: the company and its vendors. My short term goal is to learn the company's payment processes and build strong relationships with vendors. My long term goal is to streamline the accounts payable process and reduce costs.
Accounts payable involves two parties: the company and its vendors
Short term goal is to learn the company's payment processes and build strong relationships wit...
An account is a system of recording and summarizing financial transactions.
Accounts are used to keep track of financial transactions in a business.
They are used to record and summarize transactions such as sales, purchases, and expenses.
Accounts are important for financial reporting and analysis.
Examples of accounts include accounts payable, accounts receivable, and general ledger accounts.
EXL Service Accounts Payable Associate Interview Experiences
6 interviews found
nishu tyagi
- Q1. What was your last role
- Q2. Why do you want to start your career with exl
Srikanta Dash
I applied via Recruitment Consulltant and was interviewed in Apr 2024. There were 2 interview rounds.
(2 Questions)
- Q1. Tell about your self
- Q2. Ok I will update you and if it name short listed then I will cl you
Account related ,credit ,debit, financial account
Anonymous
(2 Questions)
- Q1. There was all questions about account payable
- Q2. What is P2P cycle explain
- Ans.
P2P cycle refers to the Procure-to-Pay cycle, which involves the entire process of purchasing goods or services from a supplier to making the payment.
The P2P cycle starts with the identification of a need for goods or services.
Next, a purchase requisition is created and approved by the appropriate authority.
A purchase order is then issued to the supplier, detailing the goods or services required, quantity, price, and t...
(3 Questions)
- Q1. Account payable cycle and how work this
- Ans.
The accounts payable cycle involves managing and processing vendor invoices to ensure timely payments and maintain accurate financial records.
Invoice Receipt: Collect invoices from vendors, ensuring they are accurate and match purchase orders.
Invoice Approval: Route invoices for approval from relevant departments to confirm receipt of goods/services.
Payment Processing: Schedule and execute payments based on terms, ensu...
- Q2. Roles and responsibilities
- Q3. What is purchase requisition
- Ans.
A purchase requisition is a formal request to purchase goods or services.
It is typically initiated by the department or individual in need of the goods or services
It includes details such as quantity, description, estimated cost, and justification for the purchase
Once approved, the purchase requisition is used as a basis for creating a purchase order
Interview Preparation Tips
I appeared for an interview before Sep 2023.
(2 Questions)
- Q1. Journal entries related to P2P
- Q2. What is Accounts Payable
- Ans.
Accounts Payable is the amount of money a company owes to its suppliers or vendors for goods or services purchased on credit.
Accounts Payable is a liability on the balance sheet
It represents the company's obligation to pay off short-term debts to suppliers
It includes invoices, bills, and other documents from suppliers
Accounts Payable is typically paid within a certain period, often 30, 60, or 90 days
I applied via Walk-in and was interviewed in Mar 2022. There was 1 interview round.
(3 Questions)
- Q1. What is the account? The system of recording and sumerizing business and financial transactions and analyzing, verifying and reporting the results.
- Ans.
An account is a system of recording and summarizing financial transactions.
Accounts are used to keep track of financial transactions in a business.
They are used to record and summarize transactions such as sales, purchases, and expenses.
Accounts are important for financial reporting and analysis.
Examples of accounts include accounts payable, accounts receivable, and general ledger accounts.
- Q2. Accounts two parties? Short term goal Long term goal
- Ans.
Accounts payable involves two parties: the company and its vendors. My short term goal is to learn the company's payment processes and build strong relationships with vendors. My long term goal is to streamline the accounts payable process and reduce costs.
Accounts payable involves two parties: the company and its vendors
Short term goal is to learn the company's payment processes and build strong relationships with ven...
- Q3. Golden rules Real account Personal account Nominal account
Interview Preparation Tips
- Communication Skills
- Finance
I applied via Walk-in and was interviewed before Jul 2021. There were 2 interview rounds.
(4 Questions)
- Q1. Why shoud i hire you
- Ans.
I bring strong attention to detail, relevant experience, and a commitment to accuracy that will enhance your accounts payable team.
Proven experience in accounts payable, having managed invoices and payments for a mid-sized company for over 3 years.
Strong analytical skills, demonstrated by successfully identifying discrepancies in invoices that saved the company 10% in costs.
Excellent organizational abilities, allowing ...
- Q2. Whats is the general entry for bank interest
- Q3. What is deffer income
- Ans.
Deferred income is a liability that arises when a company receives payment for goods or services that it has not yet delivered or rendered.
Deferred income is also known as unearned revenue.
It is recorded as a liability on the balance sheet until the goods or services are delivered or rendered.
Once the goods or services are delivered or rendered, the deferred income is recognized as revenue on the income statement.
Examp...
- Q4. What is accounts payable
- Ans.
Accounts payable is the amount of money a company owes to its vendors or suppliers for goods or services received.
Accounts payable is a liability account in the company's balance sheet
It includes invoices, bills, and other expenses that are yet to be paid
It is important to manage accounts payable to avoid late payments and maintain good relationships with vendors
Examples of accounts payable include rent, utilities, and...
Interview Preparation Tips
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I applied via Naukri.com and was interviewed before Nov 2020. There was 1 interview round.
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2 Questions
- Q1. Coding parts, tricky
- Q2. Not answered
Interview Preparation Tips
I applied via Campus Placement and was interviewed before Jan 2021. There were 4 interview rounds.
Interview Questionnaire
1 Question
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Interview Preparation Tips
I appeared for an interview before Aug 2016.
Interview Questionnaire
1 Question
- Q1. Asked about Resume and family background
Interview Preparation Tips
Experience: Asked about the topic and was told to talk something different
Tips: Just be confident. Have trust in God!
Duration: 25 minutes
Round: Test
Experience: Simple questions were asked to test the skills!
Duration: 45 minutes
Total Questions: 25
I appeared for an interview in Jun 2016.
Interview Questionnaire
3 Questions
- Q1. General hr questions
- Q2. About technology used earlier
- Q3. Included work profile and negotiations
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