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50 Accounts Payable Interview Questions 2020 Update

Filed in Interviews by on March 17, 2020

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50 Accounts Payable Interview Questions 2020 Update

Accounts Payable Interview Questions – Accounts payable with an abbreviation  (AP),  is an accounting entry that stands for a company’s duty to pay off a short-term debt to its creditors or suppliers. Normally,  it shows on the balance sheet under the current liabilities. If you looking to work in the Accounts Payable department of any firm, this is the right article for you.

Accounts Payable Interview Questions

Another common usage of AP means to a business department or division that is in charge of making payments owed by the company to suppliers and other creditors.

How to Prepare for Your Accounts Payable Interview Questions

1. Don’t Let Simple Questions throw you for a loop

Now the square can be the hardest to reply. For instance, an inquiry regarding the pay you look for could get you bothered on the off chance that you haven’t contemplated the appropriate response early.

Prior to any meeting, make certain to audit the 2018 Robert Half Salary Guide to get a feeling of the remuneration you can order for a records payable agent.

For instance, the pay midpoint for a records payable assistant is required to be $34,250, as per the Salary Guide. For an Accounts Receivable/Accounts Payable director, the midpoint level is viewed as $60,000 for 2018.

On the off chance that conceivable, ask a companion or relative to direct a training meeting with you. Indeed, you may have addressed “Would you be able to educate me concerning yourself?” around a thousand times previously, in past meetings.

In any case, it’s difficult to be over-arranged, particularly in the event that you haven’t partaken in a prospective employee meeting in quite a while. Make sure you spread records payable agent explicit inquiries, for example, these in your training meeting:

  • Can you explain the end-to-end process of accounts payable?”
  • “What is a workflow?”
  • “What is consolidation?”
  • “What is interest on capital?”
  • “What is a non-PO invoice?”

2. The real purpose behind unusual questions

Take your interviewing skills to another level by learning and practicing to reply to a few unusual questions. In a Robert Half survey, executives were asked to share the weirdest questions they’d ever been asked in the course of an interview. Here are just a few they cited:

  • “What would I find in your refrigerator?”
  • “What’s the last book you read?”
  • “What animal are you most like?”

Why don’t hiring managers just stick to standard questions when interviewing an accounts payable clerk? Because your answers to oddball questions may shed light on your personality, problem-solving skills and performance under pressure in ways that standard questions do not.

3. How to stay poised

Preparation is the best defense. Unfortunately, you can’t practice every possible question in advance. Rely on the following interview tips to ensure you don’t become tongue-tied if you’re asked a question that seems to come from out of the blue:

  • Keep your composure. Interviewers assess more than what you provide as your answers. They also take into cognizance how you formulate replies to get a sense of your creativity and the way you approach problems. Here is what you should do, remain calm, maintain eye contact and stay confident.
  • Ask for clarification. If you’re stumped, it’s OK to ask for clarification. Ask the interviewer to repeat or reword the question. Interviewers will respect your desire to give them what they are looking for in an answer.
  • Don’t be a dodger. Don’t dodge questions. You could be particularly tempted to do so if asked about a resume gap. If you stopped working as an accounts payable clerk so you could finish an MBA program early, say so. Be honest and factual, and get ready for the next question.
  • Make sense of it. Let’s say an interviewer asks you, “What animal are you most like?” If you say “a cat,” you might want to add “because I am curious and always land on my feet.” Try to highlight skills you’ll need as an accounts payable clerk at that particular company when answering questions such as these. In this example, curiosity and landing on your feet represent eagerness to try new things and dependability.
  • Take your time. The interviewer will expect you to take some time with an unusual question. A thoughtful answer is better than a rushed one. It’s OK to say something like, “That’s an interesting question. Let me think about it.”
  • Ask questions. The employer is not the only one who should ask good questions. Ask good questions too

What it involves

The records payable procedure includes auditing a colossal measure of detail to guarantee that lone real and exact sums are entered in the book-keeping framework. A great part of the data that should be inspected will be found in the accompanying records:

  • buy requests issued by the organization
  • getting reports issued by the organization
  • solicitations from the organization’s sellers
  • contracts and different understandings

The precision and fulfillment of an organization’s budget summaries are reliant on the records payable procedure. A well-run creditor liabilities procedure will include:

  • the opportune handling of precise and authentic seller solicitations,
  • precise chronicle in the proper general record accounts, and
  • the collection of commitments and costs that have not yet been totally handled.

The productivity and adequacy of the records payable procedure will likewise influence the organization’s money position, FICO score, and associations with its providers.

accounts payable interview questions

  • 1. What interests you about working in accounts payable at a company like ours?

  • 2. What training or experience has prepared you for the role of accounts payable clerk?

  • 3. Describe your familiarity with accounting software. Which ones have you used?

  • 4. In as much detail as possible, describe the accounts payable process.

  • 5. What differentiates accounts payable from bills payable?

Operational Question

  • 6. How would you define a workflow?

  • 7. From the bank’s point of view, what is debt and credit? What is it from the customer’s point of view?

  • 8. This position requires a fair amount of data entry. How do you ensure accuracy in your work?

  • 9. Describe a time you found an invoice discrepancy. How did you resolve it?

  • 10. What types of documents do you need to verify an invoice?

  • 11. What steps would you take to make a payment?

  • 12. What does it mean when a vendor has a debit balance and what would you do in this case?

Situational questions

  • 13. Describe a time you negotiated vendor terms. How did you handle it?

  • 14. Describe a time you suggested a way to lower costs, increase revenue, or improve efficiency.

  • 15. What are the methods by which vendor invoice payments can be made?

  • 16. What are the problems when a business area is configured?

  • 17. What are the methods by which vendor invoice payments can be made?

  • 18.  For document clearing what are the customizing prerequisites?

  • 19. What is the importance of GR/IR ( Good Received/ Invoice Received) clearing account?

  • 20 What is a parallel and local currency in SAP?

  • 21.  Where can you use the internal order?

  • 22. Is it possible to calculate depreciation to the day?

  • 23.  In Asset Accounting what are the organizational assignments?

  • 24. What is the importance of asset classes? What asset classes are there?

  • 25.  How capital WIP (Work In Process) and Assets accounted for in SAP?

  • 26.  What are the major components of the Chart of Accounts?

  • 27. What is credit control area in SAP?

  • 30.  How can you create a Credit Control Area in SAP?

  • 31.  What is posting period variants?

  • 32. Explain in simple terms what is field status and what does it control?

  • 33.  What is the short-end fiscal year?

  • 34.  What is an account group and where it is used?

  • 35.  What is the purpose of “Document type” in SAP?

  • 36.  Is the business area at the company code level?

  • 37.  In SAP, Customer and Vendor code are stored at what level?

  • 38.  How are tolerances for invoice verification defined?

  • 39. What is the country Chart of Accounts?

  • 40.  What is the APP in SAP Fico?

  • 41.  In SAP FICO what are the terms of payment and where are they stored?

  • 42. What are one-time vendors?

  • 43.  What are the standard stages of the SAP payment run?

  • 44.  In Accounts Receivable, what is the difference between the ‘Residual Payment’ and ‘Part Payment’ methods of allocating cash?

  • 45. What is “dunning” in SAP?

  • 46.  What is the purpose of the account type field in the GL (General Ledger) master record?

  • 47. Explain what is recurring entries and why are they used?

  • 48. What is a ‘Value Field’ in the CO-PA module?

  • 49.  What are the statistical internal orders?

  • 50. For what purposes internal orders can be used?

If you find this article useful and helpful, Please drop a comment below.

CSN Team.

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