EXL Service Accounts Payable Associate Interview Questions, Process, and Tips

Q1. Tell about your self
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Q2. Ok I will update you and if it name short listed then I will cl you
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Account related ,credit ,debit, financial account

Q1. There was all questions about account payable
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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...read more
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Q1. Account payable cycle and how work this
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Q2. Roles and responsibilities
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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
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Q1. Journal entries related to P2P
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Q2. What is Accounts Payable
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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
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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.
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Q2. Accounts two parties? Short term goal Long term goal
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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...read more
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Q3. Golden rules Real account Personal account Nominal account
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