Capgemini Accounts Payable Associate Interview Questions and Answers

Some major challenges in posting invoices include missing or incorrect information, duplicate invoices, and delays in approvals.

• Missing or incorrect information on invoices can lead to delays in processing.

• Identifying and handling duplicate invoices can be time-consuming and require additional verification.

• Delays in approvals from various departments or stakeholders can hold up the invoice posting process.

Depreciation is the accounting method of allocating the cost of a tangible asset over its useful life.

• Depreciation reflects the wear and tear on an asset over time.

• Common methods include straight-line and declining balance depreciation.

• For example, a vehicle purchased for $20,000 with a 5-year life may depreciate $4,000 annually using straight-line method.

• Depreciation affects financial statements, reducing taxable...read more

Accounts payable refers to the amount of money a company owes to its suppliers or vendors for goods or services purchased on credit.

• Accounts payable is a liability on the company's balance sheet.

• It represents the amount of money owed to suppliers or vendors for goods or services received.

• Accounts payable is typically recorded when an invoice is received from the supplier.

• It is an important part of the company's wo...read more

P2P cycle is the process of procuring goods or services, receiving and approving invoices, and making payments to vendors.

• P2P cycle stands for Procure-to-Pay cycle.

• It involves steps like requisitioning, purchasing, receiving, invoicing, and payment.

• Accounts payable is a department responsible for processing invoices and making payments to vendors.

• Golden rules in accounts payable include accuracy, timeliness, and p...read more

The golden rules of accounting guide how financial transactions are recorded and reported.

• 1. Debit what comes in, credit what goes out. Example: When a company purchases inventory, it debits inventory and credits cash.

• 2. Debit the receiver, credit the giver. Example: When a company receives cash from a customer, it debits cash and credits accounts receivable.

• 3. Debit expenses and losses, credit income and gains. E...read more