Shri Sai Industries Accounts Payable Process Executive Interview Questions and Answers

Q1. What is the objective of reconciliation & why is it important?
Ans. 
Reconciliation is the process of comparing financial records to ensure accuracy and consistency.
• Objective is to identify discrepancies between records

• Ensures accuracy of financial data

• Helps in detecting errors or fraud

• Aids in maintaining financial integrity

• Important for financial reporting and decision-making

• Example: Reconciling bank statements with company records
Answered by AI
Add your answer
Q2. What is the objective of vendor invoicing?
Ans. 
The objective of vendor invoicing is to accurately record and track the goods or services purchased from a vendor and facilitate timely payment.
• Vendor invoicing helps in maintaining accurate records of purchases and expenses.

• It ensures that the company is billed correctly for the goods or services received.

• Vendor invoicing helps in tracking payments and managing cash flow effectively.

• It also helps in building and maint...read more
Answered by AI
Add your answer
Q3. What is SLA & KPI? Explain the 5 differences between them.
Ans. 
SLA stands for Service Level Agreement and KPI stands for Key Performance Indicator. They are both important metrics in measuring performance.
• SLA is a contract between a service provider and a customer, outlining the level of service expected. KPI is a measurable value that demonstrates how effectively a company is achieving key business objectives.

• SLA focuses on the agreed upon level of service, while KPI focuses on p...read more
Answered by AI
Add your answer
Q4. What do you understand with O2C?
Ans. 
O2C stands for Order to Cash, which is the process of receiving and fulfilling customer orders.
• O2C involves receiving customer orders, processing them, fulfilling the orders, and receiving payment.

• It includes steps such as order entry, order fulfillment, invoicing, and payment collection.

• Efficient O2C processes help improve cash flow and customer satisfaction.

• Example: A customer places an order online, the order is pro...read more
Answered by AI
Add your answer

Group discussion will be Good in interview process because the job seekers will gain new ideas and concepts

The aptitude test is to find the general and technical knowledge that the job seekers

Q1. What is the Genpact
Add your answer
Q2. What is the invoice
Add your answer
Q3. Why you need this job
Add your answer
Q4. Without parents and education what you are
Add your answer
Q5. How you know about the Genpact
Add your answer

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

Q1. Golden rules of accounting
Ans. 
The golden rules of accounting are basic principles that guide the process of recording financial transactions.
• There are three golden rules of accounting: Debit the receiver, Credit the giver; Debit what comes in, Credit what goes out; Debit expenses and losses, Credit income and gains.

• These rules help ensure that the accounting equation (Assets = Liabilities + Equity) remains balanced.

• For example, when a company recei...read more
Answered by AI
Add your answer
Q2. Types of accounting
Ans. 
Types of accounting include financial accounting, management accounting, and tax accounting.
• Financial accounting focuses on recording and reporting financial transactions of a business.

• Management accounting involves providing information to help with internal decision-making.

• Tax accounting deals with tax-related matters such as tax returns and compliance.

• Other types include cost accounting, forensic accounting, and aud
Answered by AI
Add your answer
Q3. What is depreciation
Ans. 
Depreciation is the allocation of the cost of a tangible asset over its useful life.
• Depreciation is a non-cash expense that reflects the decrease in value of an asset over time.

• It is used to spread out the cost of an asset over its useful life instead of expensing it all at once.

• Common methods of calculating depreciation include straight-line, double-declining balance, and units of production.

• Examples of depreciable as...read more
Answered by AI
Add your answer

5 topics 5 tests were there during the assessment

Q1. Everything related to accounts payble
Add your answer
Q2. Steps in procure to pay
Ans. 
Procure to pay is the process of obtaining goods or services from a vendor, receiving and approving the invoice, and making payment.
• Identify need for goods or services

• Obtain quotes or proposals from vendors

• Create purchase order

• Receive goods or services

• Approve invoice for payment

• Make payment to vendor
Answered by AI
Add your answer

Accounting and Grammar

Q1. Accounts Payable Cycle
Add your answer
Q2. Journal Entries
Add your answer

Q1. Took by Manager
Add your answer

Q1. TDS sections and percentage
Add your answer
Q2. SAP Tcodes.
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

Discussed with your work profile