Genpact Order to Cash Collections Manager Interview Questions and Answers

A balance sheet is a financial statement that presents a snapshot of a company's assets, liabilities, and owner's equity at a specific point in time. It's one of the three core financial statements, along with the income statement and statement of cash flows. The balance sheet is based on the fundamental accounting equation: Assets = Liabilities + Equity.

Invoices come in various forms to suit different business needs. Common types include standard invoices, which are regular sales invoices, and proforma invoices, which are estimates issued before a sale. Other types include recurring invoices for ongoing services, commercial invoices for international trade, timesheet invoices for hourly work, and credit and debit invoices for adjustments and additional charges, accord...read more

In accounting, accounts are broadly classified into three main types: Personal, Real, and Nominal. Personal accounts relate to individuals, firms, or entities. Real accounts represent assets and liabilities. Nominal accounts, on the other hand, record income, expenses, gains, and losses.

Order to Cash is the end-to-end process of receiving and fulfilling customer orders, from order placement to cash collection.

• Order Management: This involves receiving customer orders, verifying product availability, and entering orders into the system. For example, a customer places an order for a laptop online.

• Credit Management: Assessing the creditworthiness of customers before processing orders to mitigate financial...read more

The Order to Cash (O2C) cycle encompasses all steps from order placement to cash receipt, ensuring efficient revenue collection.

• Order Management: The process begins when a customer places an order, which is recorded in the system for processing.

• Credit Management: Before fulfilling the order, the customer's creditworthiness is assessed to mitigate financial risk.

• Order Fulfillment: The ordered products or services are de...read more