10+ Accounts Receivable Analyst Interview Questions and Answers

An invoice is a document sent by a seller to a buyer, detailing the products or services provided and the amount due. Accounts Receivables are amounts owed to a company by its customers. Accounts Payables are amounts owed by a company to its suppliers.

• An invoice is a bill sent by a seller to a buyer for products or services provided.

• Accounts Receivables are the amounts owed to a company by its customers for goods or services provided on credit.

• Accounts Payables are the amount...read more

Trial balance is a list of all general ledger accounts with their respective debit or credit balances, while balance sheet is a financial statement that shows a company's assets, liabilities, and shareholders' equity at a specific point in time.

• Trial balance is a working paper that helps in preparing financial statements, including the balance sheet.

• Trial balance lists all accounts and their balances, while balance sheet summarizes the financial position of a company.

• Trial ba...read more

Electronic Credit Ledgers (ECL) is a digital record of all the credits received by a taxpayer under GST.

• ECL is a part of the GST system that helps taxpayers keep track of their credits.

• It is a digital record of all the credits received by a taxpayer under GST.

• ECL is maintained on the GST portal and is updated automatically when a taxpayer receives a credit.

• It helps in reducing errors and mismatches in claiming input tax credit.

• ECL can be used to reconcile the credits received...read more

The journal entry for the process of invoice generated involves debiting accounts receivable and crediting revenue.

• Debit accounts receivable to increase the amount owed by customers

• Credit revenue to recognize the income earned from the sale

• Example: Debit Accounts Receivable $1,000, Credit Sales Revenue $1,000

Applications commonly used for chargeback process include SAP, Oracle, and QuickBooks.

• SAP

• Oracle

• QuickBooks

The journal entry for invoice generation involves debiting accounts receivable and crediting revenue.

• Debit accounts receivable to increase the amount owed by customers

• Credit revenue to recognize the income earned from the sale

• Example: Debit Accounts Receivable $1,000, Credit Sales Revenue $1,000

Accounts receivable refers to the money owed to a company by its customers for goods or services provided on credit.

• Accounts receivable is an asset on a company's balance sheet.

• It represents the amount of money that a company is owed by its customers.

• It is created when a company sells goods or services on credit.

• The company expects to receive payment for these goods or services at a later date.

• Examples include invoices sent to customers, outstanding payments, and payment plan...read more

Types of credit card fraud include identity theft, card-not-present fraud, skimming, and account takeover.

• Identity theft: When a fraudster steals someone's personal information to open a credit card account in their name.

• Card-not-present fraud: Fraudulent transactions made without physically presenting the card, such as online purchases.

• Skimming: When a device is used to capture credit card information from a card's magnetic stripe.

• Account takeover: When a fraudster gains acc...read more

Depreciation treatment in balance sheet involves recording the decrease in value of assets over time.

• Depreciation is a non-cash expense that reduces the value of assets on the balance sheet.

• It is recorded as an expense on the income statement and reduces the net income.

• Depreciation can be calculated using various methods such as straight-line, double-declining balance, or units of production.

• The accumulated depreciation is shown as a contra-asset account on the balance sheet....read more

Golden rules of account refer to basic principles of accounting that should be followed to maintain accurate financial records.

• Debit the receiver, credit the giver

• Debit what comes in, credit what goes out

• Every debit has a corresponding credit

• Assets = Liabilities + Equity

• Revenue - Expenses = Net Income

Accounts can be classified as assets, liabilities, equity, revenue, or expenses. Golden rules include Debit the receiver, Credit the giver, Debit what comes in, Credit what goes out, Debit expenses and losses, Credit income and gains.

• Types of accounts include assets, liabilities, equity, revenue, and expenses.

• Golden rules for accounts include Debit the receiver, Credit the giver, Debit what comes in, Credit what goes out, Debit expenses and losses, Credit income and gains.

• For...read more

BRS stands for Bank Reconciliation Statement.

• BRS is a statement that compares the bank balance as per the bank statement with the balance as per the company's books.

• It helps in identifying any discrepancies or errors in the bank transactions.

• The BRS is prepared by the company's accountant or accounts department.

• The statement includes details such as deposits, withdrawals, bank charges, and interest earned.

• The BRS is an important tool for ensuring the accuracy of financial rec...read more

I am open to working night shifts and have previous experience doing so.

• I have no issues with working night shifts and can adjust my schedule accordingly.

• I have worked night shifts in my previous job and have proven my ability to perform well during those hours.

• I understand the importance of flexibility in this role and am willing to accommodate night shifts as needed.

RCM stands for Revenue Cycle Management, which is the process of managing claims, payments, and revenue generation in the healthcare industry. HIPAA stands for Health Insurance Portability and Accountability Act, which sets the standard for protecting sensitive patient data.

• RCM involves tasks such as patient registration, insurance verification, coding, billing, and collections

• HIPAA ensures the security and privacy of patient information, including electronic health records

• Bo...read more

Order to cash is the process of receiving and processing customer orders, invoicing, and collecting payments.

• Order is received from customer

• Order is processed and goods/services are delivered

• Invoice is generated and sent to customer

• Payment is received from customer

• Accounts receivable is updated

AR stands for Accounts Receivable, which is the money owed to a company by its customers for goods or services provided. O2C Cycle refers to Order to Cash Cycle, which is the process of receiving and processing customer orders to receiving payment.

• AR involves invoicing customers for goods or services provided

• O2C Cycle includes order entry, order fulfillment, invoicing, and payment collection

• AR helps track and manage outstanding customer payments

• O2C Cycle ensures timely and ac...read more