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2) Is it necessary to create Sundry creditors a/c while we use Vendor a/c in SAP?">
How do you answer this question "what is company code". 2) Is it necessary to create Sundry creditors a/c while we use Vendor a/c in SAP?
nkamuni_mca
- Mar 3rd, 2010
A company code is the legal entity for which we can prepare profit and loss account?and Balance sheet...Sundry Creditors account is a reconciliation account and it is always adviced to maintain this ...
hrushikeshjoshi
- May 21st, 2008
A company code represent an independent balancing/ legal accounting entity. No, i think so no necessary to create sundry creditors.
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Which area of accounting are you strongest? Which area of accounting would you like to improve?
nkamuni_mca
- Mar 3rd, 2010
It is generic question asked in interview... give a logical answer to satisfy the client...
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What is a Wire? What do you understand by a outside wire?
nkamuni_mca
- Mar 3rd, 2010
A wire payment is a kind of EFT(Electronic Fund Transfer) which can be made with in the state/country or Out of country.I never heard about outside wire... However,I think the wire which is processed for out of country may be reffered as outside wire (may be)
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Difference between profit and loss account
nkamuni_mca
- Dec 30th, 2009
The profit and loss account is only one account where in we transfer all the expenses/losses on the Dr side and incomes/gains on the Cr side and if the difference between CR and DR is positive then we say we made profit else loss.
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Purchase orders
What are some common question asked about purchase orders?
nkamuni_mca
- Dec 30th, 2009
Here are some common qustions on purchase orderwhat is a purchase order means?what are the contants of purchase order?who will create a purchase order?How purchase order is related to accounts payable?etc
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Accounts Payable Helpdesk
What are common issues addressed by AP helpdesk?
nkamuni_mca
- Dec 30th, 2009
The accounts helpdesk may consist of help through emails / calls. Most of the calls will be on inovice payments and year end we may all receive calls/emails about 1099 misc...
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P-Card
What is a P-Card? What are its advantages?
nkamuni_mca
- Dec 30th, 2009
P-Card means purchase card.. employees of the company will be given P-Cards for purchasing goods and services and they can pay through P-Cards... P-Cards will have a specific limit associated with it ...
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Modes of Receiving Invoices
What are the different modes of receiving invoices?
nkamuni_mca
- Dec 30th, 2009
The invoices can be received in the following ways.1. Mail box (through mails)2. Fax3. Through emails
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Evaluated Receipt Settlement
Evaluated receipt settlement is used for __________ backed suppliesa. Paymentb. Purchase orderc. Advanced. All of these.
nkamuni_mca
- Dec 30th, 2009
The answer is b.purchase order suppliesERS is used for only for PO based vendors
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Net Working Capital
How do you calculate the Net Working Capital?
nkamuni_mca
- Dec 30th, 2009
Net working capital(NWC) = Current Assets - Current Liabilities(excluding deferred tax assets/liabilities, excess cash, surplus assets and/or deposit balances)
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Correcting Duplicate Payments
Explain some of the ways in which duplicate payments made can be corrected?
nkamuni_mca
- Dec 30th, 2009
Duplicates payments - once made cannot be corrected... we have to recover the duplicate amounts paid to the vendor... we can recover the amounts by way of asking the vendor to return back the paid amo...
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Functions of Account Payable Department
What are the different functions of account payable department?
nkamuni_mca
- Dec 30th, 2009
The following are the functions of Accounts payable->Processing vendor invoice->Clearing the invoices which may have some issues->Processint the vendor payments->Handling any issues partai...
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EFT
What is EFT? What are the 2 common categories of EFT?
nkamuni_mca
- Dec 30th, 2009
EFT - Electronic fund transfer... the funds can be trasferred electronically in two ways.Through ACH (automatted clearing house)Through Wire transfers
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MALA
What is MALA? How it is useful in accounts payable?
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Approve Invoice for Payment
What items of information do you need before you can approve an invoice for payment?
c7831887
- Nov 22nd, 2009
We have to check the following:-1. Whether the Purchase Oder quantity, rate and description matches with the Invoice sent by the seller.2. Is there any debit note available against the Inv...
chinnaguntupalli
- Nov 6th, 2009
Payment terms of the invoiceWhether posting in ERP is matching with Invoice copy or notWill approve only hold free Invoicesif it is a Non-PO based, will check whether approver has authority approve in...
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Debtors Reconciliation
What are the tools used in Debtors Reconciliation?
chinnaguntupalli
- Nov 6th, 2009
Liability account total from General LedgerBalance as per Trial balance.Ideally these two should match, however in the below instances it will not get match.Conversion rate not updated for foreign cur...
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What is the difference between Payments-Liquidation(Disbursements) & Dividend Warrants Liquidation? Both of these products comes under Cash Management services
infantpragash
- Nov 5th, 2009
Payments: The partial or complete discharge of an obligation by its settlement in the form of transfer of funds. Liquidation: The winding up of a business or a firm by its members or its creditors.
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What is meant by Pay Group?
MohammaMahmood
- Nov 1st, 2009
Every Company has different pay scales according to the HR Policy. It may differ for different positions and acording to education and experience. These are called Pay Groups.
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Billable and Non-billable Expenses
What is the difference between billable and non-billable expenses?
MohammaMahmood
- Nov 1st, 2009
Billable Expenses are those which are charged to the Contractor and are paid and Non-billable are those which are not charged.
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Reposting, Distribution and Assessment
What is Reposting, Distribution and Assessment in accounting?
Accounts Payable Interview Questions
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