50 Accounts Payable Interview Questions Update

Accounts Payable Interview Questions – Accounts payable 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

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?

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?

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?

Situational Questions

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 for 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 are 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 the credit control area in SAP?

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

31. What are posting period variants?

32. Explain in simple terms what is field status and what it controls.

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 codes are stored at what level?

Operational Question

38. How are tolerances for invoice verification defined?

39. What is the country’s 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?

For your responses to meet their demands have research done on the business and its particular accounts payable procedures.

When you are self-assured, passionate, and organized; it can help you stand out and improve your chances of getting the accounts payable job you want.

CSN Team.