Manager - Accounts Payable Interview Questions and Answers

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

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%.

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