InfoSync Accounts Payable Executive Interview Questions and Answers

Q1. Explain about P2P cycle
Ans. 
P2P cycle refers to the Procure-to-Pay cycle, which involves the entire process from requisitioning goods/services to making payment.
• The P2P cycle starts with a purchase requisition being raised by the requesting department.

• The purchase requisition is then approved by the relevant authority.

• A purchase order is generated and sent to the vendor.

• Goods/services are received and the invoice is matched with the purchase orde...read more
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Q2. 2 way matching and 3 way matching
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Q1. Difference Between PO and Non PO
Ans. 
PO is a purchase order issued by a buyer to a seller, specifying the products or services to be purchased. Non-PO is an invoice without a purchase order.
• PO is a formal document that authorizes a purchase transaction, while Non-PO is an invoice submitted by a vendor for payment without a purchase order.

• POs are typically used for larger purchases or ongoing agreements, while Non-PO invoices are used for one-time purchase...read more
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Q1. Golden rules P2P releted questions
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Q1. Checks your English and kind of person you are.
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Q1. Some Basic Accounting Questions.
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It's about some of English and General Aptitude test

Q1. Accounts fundamentals
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Q1. What can you tell me about accounts payable?
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Q2. What are the three golden rules of accounting?
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Q3. What is the PTP (Procure-to-Pay) cycle?
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Q4. What do you consider to be your strengths?
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Q5. Are you currently working in accounts payable?
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Q1. 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

• Typically includes invoices from suppliers for goods or services received

• Accounts payable turnover ratio is a key metric to measure efficiency in paying off debts
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Q1. Walk me through your cv
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Q1. Accounts based question
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Q2. What is B2B process
Ans. 
B2B process refers to business-to-business transactions where one business sells products or services to another business.
• Involves transactions between two businesses

• Includes purchase orders, invoices, and payments

• Typically involves larger quantities and higher values compared to B2C transactions

• Examples: a manufacturer selling products to a retailer, a software company providing services to a corporation
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