Invensis Technologies Accounts Payable Executive Interview Questions and Answers

Simple basic concepts

Q1. What is accounts payable and receivables ?
Ans. 
Accounts payable is the amount a company owes to its suppliers for goods and services purchased on credit.
• Accounts payable is a liability on the balance sheet

• It represents the amount a company owes to its suppliers for goods or services received

• Accounts receivable is the opposite, representing the money owed to a company by its customers

• Accounts payable is typically paid within a certain period, often 30, 60, or 90 day...read more
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Q2. How good are we at accounts?
Ans. 
We are highly proficient in accounts with a strong track record of accuracy and efficiency.
• Our team consistently meets deadlines for processing invoices and payments.

• We have implemented automated systems to streamline the accounts payable process.

• Our financial reports are detailed and accurate, providing valuable insights for decision-making.

• We have a low error rate in accounts payable transactions, ensuring financial ...read more
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Q3. Why should we hire you?
Ans. 
I have a strong background in accounts payable with a proven track record of accuracy and efficiency.
• I have X years of experience in accounts payable, including handling high volumes of invoices and payments.

• I am detail-oriented and have a strong understanding of financial processes and regulations.

• I have consistently met or exceeded targets for processing times and accuracy in my previous roles.

• I am proficient in usin...read more
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Q4. What do you mean by back reconciliation?
Ans. 
Back reconciliation refers to the process of verifying and correcting discrepancies in financial records to ensure accuracy.
• Back reconciliation involves comparing financial records with bank statements to identify any discrepancies.

• It is important to investigate and resolve any differences found during the reconciliation process.

• Back reconciliation helps ensure that all transactions are accurately recorded and accounte...read more
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