HCLTech Accounts Payable Executive Interview Questions and Answers

Reconciliation is the process of comparing financial records to ensure accuracy and consistency.

• Objective is to identify discrepancies between records

• Ensures accuracy of financial data

• Helps in detecting errors or fraud

• Aids in maintaining financial integrity

• Important for financial reporting and decision-making

• Example: Reconciling bank statements with company records

I process invoices by verifying accuracy, coding, obtaining approvals, and entering into the system. I address queries related to payment status, discrepancies, and vendor information through email.

• Verify accuracy of invoices

• Code invoices based on expense categories

• Obtain necessary approvals before processing

• Enter invoices into the accounting system

• Address queries related to payment status

• Resolve discrepancies in invoices

• Update vendor information as needed

When invoicing in a different currency, I take actions such as converting the amount to the company's base currency, checking for exchange rate fluctuations, and ensuring accuracy in the conversion process.

• Convert the amount on the invoice to the company's base currency using the current exchange rate

• Check for exchange rate fluctuations to ensure accuracy in the conversion process

• Communicate with vendors or suppliers to clarify any discrepancies in the invoiced amount

SLA stands for Service Level Agreement and KPI stands for Key Performance Indicator. They are both important metrics in measuring performance.

• SLA is a contract between a service provider and a customer, outlining the level of service expected. KPI is a measurable value that demonstrates how effectively a company is achieving key business objectives.

• SLA focuses on the agreed upon level of service, while KPI focuses on performance indicators.

• SLA is usually a part of a contract,...read more

The objective of vendor invoicing is to accurately record and track the goods or services purchased from a vendor and facilitate timely payment.

• Vendor invoicing helps in maintaining accurate records of purchases and expenses.

• It ensures that the company is billed correctly for the goods or services received.

• Vendor invoicing helps in tracking payments and managing cash flow effectively.

• It also helps in building and maintaining good relationships with vendors.

• Examples: Receiving...read more