JRD My My Fashions Accounts Payable Executive Interview Questions and Answers

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
Answered by AI
Add your answer

They had given a topic and asked to say something about that

Q1. Golden rules P2P releted questions
Add your answer

Q1. Checks your English and kind of person you are.
Add your answer

Q1. Some Basic Accounting Questions.
Add your answer

It's about some of English and General Aptitude test

Q1. Accounts fundamentals
Add your answer

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
Answered by AI
Add your answer

Q1. Walk me through your cv
Add your answer

Q1. Accounts based question
Add your answer
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
Answered by AI
Add your answer

Create a customer success story

An assignment is the transfer of rights or DC

Q1. Introducing yourself
Add your answer
Q2. Generally HR question like current organization, current CTC, expected CTC?
Add your answer

Q1. What is Credit Note and Debit Note ?
Ans. 
Credit Note is issued by a seller to a buyer for reducing the amount payable, while Debit Note is issued by a buyer to a seller for increasing the amount payable.
• Credit Note reduces the amount payable by the buyer to the seller.

• Debit Note increases the amount payable by the buyer to the seller.

• Credit Note is issued when there is an overcharge or return of goods.

• Debit Note is issued when there is an undercharge or addit...read more
Answered by AI
Add your answer
Q2. If i am paying you for the Raw Material in cash , what will you , Creditor or Debtor ?
Ans. 
Creditor, as the company is receiving cash for the raw material
• The company receiving the cash for the raw material is the Creditor

• The party paying for the raw material in cash is the Debtor

• Example: If a supplier pays cash for raw material, they are the Creditor and the company receiving the cash is the Debtor
Answered by AI
Add your answer
Q3. What is 3 way Matching rule ?
Ans. 
3 way matching rule is a process in accounts payable where the purchase order, receiving report, and vendor invoice are compared to ensure accuracy.
• Involves matching the purchase order with the receiving report and vendor invoice

• Ensures that the quantities, prices, and terms on all three documents match

• Helps prevent errors, fraud, and discrepancies in payments

• Example: If a company orders 100 units of a product, receive...read more
Answered by AI
Add your answer
Q4. How to Book an Invoice and Purchase Order ?
Ans. 
To book an invoice and purchase order, you need to match the details on the invoice with the corresponding purchase order and enter them into the accounting system.
• Verify that the details on the invoice match the corresponding purchase order.

• Enter the invoice details into the accounting system, including the invoice number, date, amount, and payment terms.

• Match the invoice to the purchase order in the accounting system...read more
Answered by AI
Add your answer
Q5. What is p2p and its Flow ?
Ans. 
P2P stands for Procure-to-Pay, which is the process of requisitioning, purchasing, receiving, paying for, and accounting for goods and services.
• P2P involves the entire procurement process from start to finish.

• It starts with a requisition for goods or services, followed by the purchase order, receipt of goods or services, invoice processing, and payment.

• The final step is accounting for the transaction in the company's f...read more
Answered by AI
Add your answer