Praj Industries Processor Interview Questions and Answers

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 company's balance sheet.

• It represents the amount of money owed but not yet paid.

• Accounts payable typically includes invoices from suppliers, utility bills, and other expenses.

• It is important for companies to manage their accounts payable to maintain good rel...read more

Main entries for accounts payable include invoices, credit memos, and payment vouchers.

• Invoices from vendors for goods or services received

• Credit memos for returns or adjustments to invoices

• Payment vouchers for recording payments made to vendors

• Accruals for expenses incurred but not yet paid

• Reconciliations of accounts payable to vendor statements