Clerk Accounts Payable Interview Question:

Explain how to monitor duplicate payments?

Submitted by: Muhammad

They may or may not be fraudulent, but if duplicate payments slip through the cracks a less than scrupulous employee may see this as an opportunity. Estimates of duplicate payments made by the average company today are in the two percent range. That represents $200 thousand on $10 million in expenditures. If you make $500 thousand in pre-tax income, shaving your duplicate payments in half would increase profits by up to 20 percent.
Submitted by: Muhammad