Samvardhana Motherson Group Accounts Payable Executive Interview Questions and Answers

Accounts Payable is the process of managing and paying invoices. Invoices are bills for goods or services received.

• Accounts Payable is a department responsible for managing and processing invoices

• Invoices are bills received from vendors for goods or services purchased

• PO (Purchase Order) is a document issued by a buyer to a seller, indicating the type, quantity, and agreed price for products or services

• Non-PO invoices a...read more

P2P process stands for Procure-to-Pay process, which involves the steps from requisitioning goods/services to making payment.

• P2P process starts with the requisition of goods/services by the user department.

• The purchase order is then created and sent to the vendor.

• Goods/services are received and the invoice is matched with the purchase order.

• Payment is made to the vendor based on the invoice.

• P2P process helps in streaml...read more

Vendor reconciliation is the process of comparing a company's records with those of its vendors to ensure accuracy and resolve discrepancies.

• Matching invoices and payments to vendor statements

• Identifying and resolving discrepancies

• Ensuring all transactions are accurately recorded

• Communicating with vendors to clarify any discrepancies

• Reconciling accounts on a regular basis to maintain accurate financial records

Accounts Payable is the process of managing and paying invoices. Invoices are bills for goods or services received.

• Accounts Payable is a department responsible for managing and processing invoices

• Invoices are bills received from vendors for goods or services purchased

• PO (Purchase Order) is a document issued by a buyer to a seller, indicating the type, quantity, and agreed price for products or services

• Non-PO invoices a...read more