Essential Clerk Accounts Payable Interview Questions & Answers:

1. Explain Standard Purchase Order?

You generally create standard purchase orders for one-time purchase of various items. You create standard purchase orders when you know the details of the goods or services you require, estimated costs, quantities, delivery schedules, and accounting distributions. If you use encumbrance accounting, the purchase order may be encumbered since the required information is known

2. Explain when payment request form required?

A Payment Request Form (PDF) is required when an invoice does not contain a valid invoice number. A valid invoice must include an Invoice Number, Invoice Date, Company Name and Address and Amount Due.

3. Explain me who is department approver and releaser?

Department Approvers and Releasers are assigned by the Finance Directors. Please contact your Finance Director if you are unsure of your Approver or Releaser.

4. Please explain what is accounts payable cycle?

Demonstrate your knowledge of this cycle – the length of time it takes the company to pay its accounts payable – and what the implications of the length of this cycle are for the company, for example cash flow.

5. Explain why registration form need to be completed by supplier?

Before a vendor can receive payment, they must register as a GW-approved supplier. This process includes completing a Supplier Registration Package (PDF), supplying the appropriate tax-identification number, and subscribing to the University's Supplier Code of Conduct.

6. Tell me what role you can play in collections?

Again focus on the skills and abilities you bring to the collections function. Demonstrate how you have used your good interpersonal skills, perseverance, ability to managing conflict, negotiation skills and communication ability for successful collections.

7. Explain me how to take time after question?

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.”

8. Tell me how to make sense of interviewer questions?

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.

9. Explain me what is the difference between SAP MEMORY and ABAP MEMORY?

SAP Memory:
Global, user-related memory that extends beyond transaction limits.
Access to the SAP memory is via SPA/GPA parameters.

10. Tell me what skills do you possess? How do you learn new procedures and techniques?

Elaborate all technical and non-technical skills that you possess and explain about your approach towards learning and adapting new procedures and techniques to enhance your productivity.

11. Tell me what is the difference between Consignor and Consignee?

Consignor is the person who is the owner of the goods and who deliver the goods to the consignee.

Consignee is the person who receives the goods and he just possesses the goods and not the owner.

12. Is there anything you would like to ask us?

Do not sit silent when an interviewer asks this question. It is also not feasible to answer silly and illogical questions. You may ask about the operations of the organization or any other information about the organization that the interviewer may share freely.

13. Explain what role did you play in collections?

Again focus on the skills and abilities you bring to the collections function. Demonstrate how you have used your good interpersonal skills, perseverance, ability to managing conflict, negotiation skills and communication ability for successful collections.

14. Explain me about that information which is included in a bill for services?

List the information, make sure you cover everything and highlight your attention to detail. Include a sample of a bill for service that you created in your interview portfolio.

15. Explain Clearing Payment Method?

Clearing Payment for invoices transferred from another entity within the company without creating a payment document.Payment method you use to account for intercompany expenses when you do not actually disburse funds through banks. You do not generate a payment document with the Clearing payment method. When you enter the invoice, you enter Clearing for the payment method.You can record a Clearing payment using a Manual type payment only.

16. Explain me what is the difference between billable and non-billable expenses?

Billable expenses are the expenses incurred by you on behalf of your customer in performing duties / service and supply. These expenses are recoverable from your customer by way of billing.
Non-billable expenses are the expenses incurred by you for carry out your own business / duties and responsibilities.

17. Explain how to detect frauds from “Invoices that don't have cents”?

Many attempts at fraud are done using invoices with rounded values ($9,500.00 vs. $9,483.32). If a particular vendor requests payment for a larger number of rounded invoices this is worthy of further investigation.
While these checks are not exhaustive, they provide the basis for minimizing the risk that your company will accidentally make payments of $8 million!

18. Explain what is Non-PO invoice?

For Services, the Po is not required. It is based on Agreement. In the Non Po, Type of Services, Terms and Conditions.

19. Tell me do you know when purchase order required?

Most payments require a purchase order, including Honorariums paid to commercial vendors. However, the following do not require a purchase order: advertising, dues and memberships, G-World, insurance, legal fees, permits, postage, rent, settlement payments, subscriptions, taxes and utilities. In addition, the following commercial vendors do not require a purchase order: Catering Solutions, FedEx, Sodeho, DHL and UPS.

20. Tell me on what steps you approve an invoice for payment?

Focus on your monitoring and checking skills. Demonstrate your understanding of the documentation required for verification before payment is made.

21. Explain me what accounts payable applications are your familiar with?

With accounting job interview questions like this first list the applications you have used and then expand on the value of the solutions they offered to your particular business. Look at aspects such as managing vendor information, approval controls and providing payables reports.

22. Explain me about your career and qualifications?

You can start either with your work experience or your academic qualifications. Emphasize on the most important job responsibilities and also on your achievements, both as a student and a professional.

23. Explain me how to speak with your vendors?

In the case of Advance Publications, many months went by between the time the fraudulent payments began and the time the two companies started talking to each other. Call your top five vendors regularly to ensure that everything is running smoothly. One phone call could prevent a multimillion dollar embarrassment.

24. Tell me what steps you take before you approve an invoice for payment?

Show your understanding of the invoice verification process. Go through each step in detail such as checking that goods have been received in proper condition or services rendered in a satisfactory manner. Explain the importance of each step.

25. Explain me why not to 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.

26. Tell me how to keep your composure?

Interviewers evaluate more than the content of your answers. They also note how you formulate responses to get a sense of your creativity and approach to problems. Remain calm, maintain eye contact and stay confident.

27. Explain me what do you understand by Open Item Managed Account?

Open item management ensures that all items that have not yet been cleared are available in the system. Only after every open item in a document is cleared can a document be archived.

28. Tell me the accounts payable cycle?

Demonstrate your knowledge of this cycle - the length of time it takes the company to pay its accounts payable - and what the implications of the length of this cycle are for the company, for example cash flow.

29. Tell me what software applications have you used for accounts receivable?

List the applications you have used and expand on the value of the solutions they offered to your particular company. Look at aspects such as tracking transactions, assessing late payments, creating past due notices and printing out relevant reports.

30. Tell me are you comfortable to work in a team or do you prefer to work alone?

Although you may have preferences to work in a specific environment, all of your preferences may not be fulfilled, and it is also not recommended to specify the same during the interview. You may have to work both ways, alone and in a team, so do not hesitate to state that you can adjust according to the circumstantial requirements.

31. Explain what do you understand by Intercompany Settlement?

A key functional area of SAP for Utilities that supports cross-company exchange of settlement data based on international standards such as EDI, XML, and Microsoft Excel.

Intercompany data exchange manages data transfer between retailers, distributors, and independent service operators with special regard to the requirements in deregulated markets.

32. Explain me do you have willingness to learn?

The interviewer may ask, “How willing are you to learn and grow in a new work environment?” Or, “Are you willing to learn new accounts payable procedures?” Employers want workers who have necessary skills, but they also want employees who will fit in well with current staff and embrace company culture. By expressing your willingness to learn new financial procedures or new accounting software programs, you show the employer that you are flexible and teachable. You also come across as a team player.

33. Tell me what is FBT (Fringe Benefit Tax)?

The tax payable on a non-salary benefit provided to an employee or an associate of the employee. The employer is liable to pay any FBT and may choose to recover the FBT amount from the employee.

34. Tell me what is Accounting Software?

A hiring manager likely will ask questions about your experience with accounting software. Expect questions such as, “What type of accounting software have you used?” Or, “What is your experience with modern accounting software?” Bookkeepers and accounts payable clerks use advanced accounting software to organize vendors, print checks, keep up with invoices and maintain a running balance in each account. An employer might expect a job candidate to have experience with a particular software program, such as QuickBooks or Sage. However, most accounting programs have similar functions, so familiarity with any program might be sufficient.

35. Tell me what is accounts payable cycle?

Demonstrate your knowledge of this cycle – the length of time it takes the company to pay its accounts payable – and what the implications of the length of this cycle are for the company, for example cash flow.