Manager - Accounts Payable

Manager - Accounts Payable Interview Questions and Answers

Updated 5 Mar 2025

Q1. How do you handle escalations ?

Ans.

I handle escalations by identifying the root cause, communicating with all parties involved, and finding a solution that satisfies all parties.

  • Listen to the concerns of the person escalating the issue

  • Gather all necessary information and investigate the issue

  • Communicate with all parties involved to understand their perspectives

  • Identify the root cause of the issue

  • Find a solution that satisfies all parties involved

  • Document the issue and solution for future reference

Q2. What is TDS, and what are the applicable rates?

Ans.

TDS (Tax Deducted at Source) is a tax collected at the source of income, applicable on various payments.

  • TDS is applicable on salaries, interest payments, rent, professional fees, etc.

  • For salaries, TDS rates depend on the individual's income tax slab.

  • Interest on bank deposits attracts TDS at a rate of 10% if it exceeds ₹40,000.

  • Rent payments exceeding ₹2,40,000 per annum are subject to TDS at 10%.

  • Professional fees are generally subject to TDS at a rate of 10%.

Q3. What is your knowledge of asset accounting?

Ans.

Asset accounting involves tracking and managing a company's fixed assets throughout their lifecycle.

  • Asset classification: Categorizing assets into tangible and intangible, e.g., machinery vs. patents.

  • Depreciation methods: Understanding straight-line vs. declining balance methods for asset value reduction.

  • Asset acquisition: Recording the purchase of assets, including costs like installation and transportation.

  • Asset disposal: Managing the sale or retirement of assets, ensuring ...read more

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