HCLTech Order Processing Executive Interview Questions and Answers for Experienced

3way and 2way matches are methods used in accounts payable to match invoices with purchase orders and receiving reports.

• 2way match involves matching the invoice with the purchase order.

• 3way match involves matching the invoice with the purchase order and the receiving report.

• 2way match is used for non-inventory items while 3way match is used for inventory items.

• Example: A company orders 100 units of a product from a sup...read more

Explaining color to a person blind since birth

• Color is a visual sensation perceived by the eyes

• Red is a warm color that is often associated with passion, love, and anger

• It is the color of blood and fire

• It can be described as a feeling of warmth or intensity

• It is often used to draw attention or indicate danger

• It is the opposite of green on the color wheel

Outstanding salary is a type of account in accounts payable.

• Outstanding salary is a liability account in accounts payable.

• It represents the amount of salary owed to employees but not yet paid.

• It is recorded as a current liability on the balance sheet.

• Examples include salaries owed to employees at the end of a pay period or bonuses owed but not yet paid.

Accounts payable refers to the money a company owes to its vendors or suppliers for goods or services received.

• Accounts payable is a liability account that tracks the money a company owes to its vendors or suppliers.

• It involves processing invoices, verifying purchase orders, and making payments to vendors.

• Accounts payable is an important part of a company's cash flow management.

• Examples of accounts payable include rent...read more

BRS is needed in business to ensure that the system meets the requirements of the stakeholders.

• BRS stands for Business Requirements Specification.

• It helps in defining the scope of the project and the goals that need to be achieved.

• It ensures that the system meets the needs of the stakeholders and is aligned with the business objectives.

• It helps in identifying any gaps or inconsistencies in the requirements and provides...read more