5+ Best Accounts Payable Interview Questions & Answers
We’ve compiled the absolute best accounts payable interview questions and answers to help you on your future job interviews. An accounts payable clerk controls the general bookkeeping of a company. This means the expenses, receiving, processing and verifying invoices. All of these things would be classified under an accounting type of position or in the finance department.
Some of the jobs that you may experience while hired as an accounts payable clerk would be reconciling invoices, reconciling the general balance sheet of the business, reporting sales taxes, maintaining historical records based on expenses and invoices, take part in educational opportunities as it relates to the accounting industry and paying employees for their labors.
In order to qualify for this position you should have a general knowledge of tracking expenses, being able to handle complex business balance sheets in terms of debits/credits, have a firm understanding of data entry, vendor relationships, general math skills and excel experience.
Accounts Payable Interview Questions & Answers
1. What is a debit on an account?
A debit on an account is when the transaction is taking away from our available balance. Inversely if we are receiving money, that would not be a debit on the account.
2. What is a credit on an account?
A credit on an account is when the transaction is increasing our available balance. This is when we are getting paid when we are being reimbursed or when we have made money by interacting with our customers or clients. Credits are good!
3. What happens if you aren’t able to reconcile an expense?
If an expense isn’t able to be reconciled it needs to be brought to the attention of the person who submitted the expense. There may be some information missing, like a receipt, which can be found through simple investigation or through other resources to reconcile.
4. What is Excel?
Excel is a common Microsoft tool for using spreadsheets. spreadsheets are the most common way for accounting to be kept. As the business grows, so too will our accounting spreadsheets.
5. How do you calculate sales taxes?
Sales taxes should be calculated on a state level for which the transaction took place. Each state provides their state sales tax percentages which can be found in public record for that fiscal year. Calculations of sales taxes should be made frequently and the sales taxes should be prepared often to prevent any penalties or fines.
Phone Interviews have become a core part of the process when attempting to find a secured placement for an open position. Companies receive massive responses from potential..
Concerning a job search, you might receive numerous offers from your recruiters. Before you choose one, you need to assess all the conditions, for which it is vital that you know everything associated with the offered position..
Answering this question during a job interview requires more than knowing why you are unique as an individual. Yes, the true scientific answer is made up of two main components: your..
So, you have been in search of a job for a considerable time but are yet to be selected for one. If that's the case, don’t worry anymore because we have got you covered..
Open-ended questions like “what motivates you?” can elicit a deer-in-the-headlights reaction from job candidates if they are unprepared. It’s a broad question and can..
A lot of interviewers ask this question - how did you hear about this position? This way they can judge you if you are a passive or an active job seeker..