Accounts Payable Analyst Interview Questions and Answers for Freshers

Debit balance is the amount owed by a customer to a supplier or vendor.

• Debit balance is the opposite of credit balance.

• It represents a positive balance in the account.

• It indicates that the customer owes money to the supplier or vendor.

• For example, if a customer has a debit balance of $500, it means they owe $500 to the supplier or vendor.

Accounts payable is the amount of money a company owes to its suppliers or vendors for goods or services purchased on credit.

• Accounts payable represents a company's short-term financial obligations to pay for goods or services received.

• It is listed as a liability on the company's balance sheet.

• Accounts payable is typically settled within a specific period, often 30, 60, or 90 days.

• Examples include invoices from suppliers for raw materials, utilities, or services rendered.

• Mana...read more