Manager - Accounts Payable
Manager - Accounts Payable Interview Questions and Answers
Q1. How do you handle escalations ?
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?
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?
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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