Optimum Infosystem Account Executive 1 Interview Questions, Process, and Tips

AP Account Payable refers to the amount owed by a company to its suppliers or vendors for goods or services received.

• AP Account Payable is a liability on the company's balance sheet.

• It represents the company's short-term obligations to pay its creditors.

• AP is recorded when a company receives goods or services on credit.

• It is an important component of working capital management.

• Examples of AP include invoices from suppl

P2P cycle refers to the Procure-to-Pay cycle which involves the entire process of purchasing goods or services.

• The cycle starts with identifying the need for a product or service

• Then, a purchase order is created and sent to the supplier

• The supplier delivers the product or service and an invoice is generated

• The invoice is verified and approved for payment

• Finally, payment is made to the supplier

• The cycle ends with record

2 way match is a comparison of the invoice and the purchase order, while 3 way match involves comparing the invoice, purchase order, and the receiving report.

• 2 way match compares the invoice and the purchase order to ensure they match in terms of quantity, price, and terms.

• 3 way match adds an additional step of comparing the invoice, purchase order, and the receiving report to ensure all three documents align.

• The purpo...read more

I have experience using various Tcodes in SAP, including MM01, VA01, and ME21N.

• MM01 - Material Master Creation

• VA01 - Sales Order Creation

• ME21N - Purchase Order Creation