Sebros Industries Accounts Payable Executive Interview Questions, Process, and Tips

Accounts payable is the amount of money a company owes to its suppliers or vendors for goods or services received but not yet paid for.

• Accounts payable represents the company's short-term liabilities.

• It is recorded as a current liability on the balance sheet.

• Examples of accounts payable include invoices from suppliers, utility bills, and employee expense reimbursements.

• Accounts payable is an important aspect of managin...read more

Procure to pay (P2P) is a process that involves the acquisition of goods or services, from the procurement stage to the payment stage.

• P2P is a comprehensive process that includes requisitioning, purchasing, receiving, and paying for goods or services.

• It starts with the identification of a need, followed by supplier selection, purchase order creation, goods receipt, invoice processing, and ends with payment to the suppl...read more

A PO based invoice is an invoice that is generated based on a purchase order issued by a buyer to a supplier.

• A PO based invoice is created when a buyer places an order with a supplier and a purchase order is issued.

• The invoice is generated based on the details mentioned in the purchase order.

• It helps in ensuring that the goods or services received match the order placed.

• PO based invoices are commonly used in business t...read more

GRN or Goods Receipt Note is a document that records the receipt of goods from a supplier.

• GRN is a document that verifies the receipt of goods from a supplier.

• It contains details such as the quantity and quality of goods received.

• It is used to match the goods received with the purchase order and invoice.

• GRN is an important document for accounts payable as it helps in verifying and processing supplier invoices.

• Example: ...read more