Financial Accounting Advisory Analyst Interview Questions and Answers

The issue can be resolved by identifying the duplicate invoice and verifying the user who processed it first.

• Check the invoice number and date to identify the duplicate invoice.

• Verify the user who processed the invoice first by checking the system logs.

• Communicate with both users to understand the situation and resolve the issue.

• Implement a system to prevent such issues in the future, such as restricting access to invoices already processed.

PO invoice is based on a purchase order while non-PO invoice is not.

• PO invoice is generated when a purchase order is created and sent to the vendor.

• Non-PO invoice is generated when there is no purchase order involved.

• PO invoice has a reference to the purchase order number while non-PO invoice does not.

• PO invoice is easier to track and match with the purchase order and goods receipt.

• Non-PO invoice requires additional approval and verification process.

To block payment to a vendor, follow these steps:

• Identify the reason for blocking the payment

• Communicate with the vendor and explain the situation

• Put a hold on the payment in the accounting system

• Document the reason for blocking the payment and any communication with the vendor

• Release the hold once the issue is resolved

P2P process refers to Procure-to-Pay process which involves purchasing goods or services and paying for them.

• It involves identifying the need for goods or services

• Finding a supplier and negotiating terms

• Creating a purchase order

• Receiving the goods or services

• Matching the invoice with the purchase order and goods receipt

• Approving the invoice for payment

• Making the payment to the supplier