Senior Process Developer Interview Questions and Answers

OTC stands for Over-the-Counter, referring to medications that can be purchased without a prescription.

• OTC medications are available without a prescription from a healthcare professional

• They are typically used for minor ailments and symptoms

• Examples include pain relievers like ibuprofen and acetaminophen, as well as cold and flu medications

2 way match involves matching the invoice with the purchase order, while 3 way match involves matching the invoice with the purchase order and receipt of goods.

• 2 way match: Matching invoice with purchase order

• 3 way match: Matching invoice with purchase order and receipt of goods

• Helps ensure accuracy in payments and prevent fraud

• Common practice in accounts payable processes

AP Cycle stands for Accounts Payable Cycle, which refers to the process of managing and paying invoices from vendors.

• AP Cycle involves receiving invoices from vendors

• Verifying the accuracy of the invoices

• Obtaining approval for payment

• Processing the payment

• Reconciling accounts payable with general ledger