Conduent Accounts Payable Associate Interview Questions and Answers

I have strong attention to detail, excellent organizational skills, and proficiency in accounting software.

• Attention to detail in processing invoices and payments

• Organizational skills in maintaining accurate records and meeting deadlines

• Proficiency in accounting software like QuickBooks or SAP

• Ability to reconcile accounts and resolve discrepancies

• Experience in vendor communication and resolving payment issues

Accounts Payable is the amount a company owes to its vendors or suppliers for goods or services received but not yet paid for.

• AP is a liability account in the balance sheet

• It includes invoices, bills, and other expenses

• It is managed by the AP department

• It is important for cash flow management and vendor relationships

Financial statements are reports that show the financial performance of a company.

• There are three main financial statements: balance sheet, income statement, and cash flow statement.

• The balance sheet shows the company's assets, liabilities, and equity at a specific point in time.

• The income statement shows the company's revenue, expenses, and net income over a period of time.

• The cash flow statement shows the compan...read more

Accounts payable journal entries record liabilities for goods/services received but not yet paid.

• Debit 'Accounts Payable' to increase liabilities when receiving an invoice.

• Credit 'Expense' or 'Asset' account to reflect the cost of goods/services.

• Example: For a $1,000 invoice, debit Accounts Payable $1,000 and credit Expense $1,000.

• When payment is made, debit 'Cash' and credit 'Accounts Payable' to decrease liabili...read more

Vlookup is a function in Excel used to search for a specific value in a table and return a corresponding value.

• Vlookup stands for 'Vertical Lookup'

• It is used to search for a specific value in the first column of a table and return a corresponding value from a specified column

• It is commonly used in accounting and finance for tasks such as matching invoices to purchase orders

• Syntax: =VLOOKUP(lookup_value, table_arra...read more

Golden rules for Accounts Payable process with examples

• Ensure accuracy of data entry and documentation

• Verify invoices against purchase orders and receipts

• Match invoices to correct GL accounts

• Pay invoices on time to avoid late fees and maintain good vendor relationships

• Maintain proper records and documentation for audits

• Example: Verify that the invoice amount matches the purchase order and receipt before processing...read more