WNS Accountant Interview Questions and Answers for Experienced

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 balance sheet

• It represents the company's obligation to pay off short-term debts to creditors

• It includes invoices from suppliers, utility bills, and other expenses

• Accounts Payable is typically recorded when goods or services are received, not when they are pa

Procure to pay is the process of obtaining and paying for goods and services from suppliers.

• Involves requesting goods/services, receiving them, approving invoices, and making payments

• Includes steps like purchase requisition, purchase order, goods receipt, invoice verification, and payment processing

• Helps streamline the purchasing process and ensure timely payments to suppliers