Genpact Accounts Payable Executive Interview Questions, Process, and Tips for Freshers

Types of purchase orders include standard, blanket, contract, and planned.

• Standard purchase order is used for one-time purchases

• Blanket purchase order is used for recurring purchases over a period of time

• Contract purchase order is used for long-term agreements with suppliers

• Planned purchase order is used for future purchases based on forecasted requirements

JE tracker is a tool used in accounting to record journal entries and their details.

• JE tracker stands for Journal Entry tracker.

• It is used to record journal entries and their details such as date, account name, debit/credit amount, and description.

• It helps in tracking and managing journal entries for accurate financial reporting.

• Examples of information recorded in JE tracker include adjusting entries, accruals, and def

Purchase orders can be categorized into standard, blanket, contract, and planned types.

• Standard purchase orders are used for one-time purchases of goods or services.

• Blanket purchase orders are used for recurring purchases of goods or services within a specific period.

• Contract purchase orders are used for purchases made under a long-term contract with a supplier.

• Planned purchase orders are used to plan future purchases ...read more

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

• P2P involves the entire process from requisition to payment

• It includes activities such as vendor selection, purchase order creation, invoice processing, and payment

• P2P aims to streamline the purchasing process and ensure timely and accurate payments

• Examples of P2P software include SAP Ariba, Coupa, and Basware

I am an experienced Accounts Payable Executive with a strong background in financial management and process improvement.

• Over 10 years of experience in managing accounts payable functions

• Expertise in implementing efficient payment processes and systems

• Proven track record of reducing payment errors and improving vendor relationships

• Proficient in using accounting software such as SAP and QuickBooks

• Strong analytical and pr...read more

I have 5 years of experience in accounts payable and my job responsibilities include processing invoices, reconciling accounts, and managing vendor relationships.

• Processing invoices and ensuring accurate and timely payments

• Reconciling accounts and resolving any discrepancies

• Managing vendor relationships and negotiating payment terms

• Maintaining accurate records and documentation

• Assisting with month-end and year-end clos...read more

Answers to common accounts payable terms

• 2 way match: matching the invoice to the purchase order

• 3 way match: matching the invoice to the purchase order and receipt of goods

• P2P cycle: Procure to Pay cycle, the process of purchasing goods or services

• Purchase requisition: a document used to request goods or services

• Invoice: a bill for goods or services received

• Purchase order: a document used to order goods or services

Answers to common accounting questions including financial, cost, and management accounting, as well as ratios and golden rules.

• Financial accounting is the process of recording, summarizing, and reporting financial transactions of a business.

• Cost accounting involves analyzing the costs of producing a product or service to help with decision-making and cost control.

• Management accounting provides financial information to...read more