Infosys BPM Account Assistant Interview Questions and Answers

To validate an invoice, check for accuracy and completeness of information.

• Verify the vendor's name and address

• Check the invoice date and number

• Ensure the goods or services were received

• Confirm the prices and quantities match the purchase order

• Check for any discounts or credits

• Ensure the invoice is authorized for payment

• Compare the invoice to the general ledger

• Check for any tax or shipping charges

• Ensure the invoic...read more

P2P cycle is the process of purchasing goods or services from a supplier and paying for them.

• The cycle starts with identifying the need for goods or services.

• A purchase order is then created and sent to the supplier.

• The supplier delivers the goods or services and sends an invoice.

• The invoice is matched with the purchase order and goods receipt.

• Payment is then made to the supplier.

• The cycle ends with recording the ...read more

Journal entry for cash commission received by Infosys involves recording cash inflow and commission income.

• Debit Cash Account: Increases the cash balance.

• Credit Commission Income Account: Recognizes income earned from commission.

• Example Entry: Debit Cash $1,000; Credit Commission Income $1,000.

• This entry reflects the receipt of cash for services rendered.

The golden rules of accounting are basic principles that guide the recording of financial transactions.

• The golden rules include the rules of debit and credit, which determine how transactions are recorded in the books of accounts.

• The three golden rules are: 1) Debit what comes in, credit what goes out; 2) Debit the receiver, credit the giver; 3) Debit all expenses and losses, credit all incomes and gains.

• For examp...read more

Accruals are expenses incurred but not yet paid or revenues earned but not yet received.

• Accruals are a key concept in accounting, representing expenses or revenues that have been incurred or earned but not yet recorded in the financial statements.

• Accruals help match expenses with revenues in the same accounting period, providing a more accurate picture of a company's financial performance.

• Examples of accruals incl...read more

Interview questions for Assistant Accountant including previous employment process, GRN, depreciation journal entry, and Oracle software based questions.

• Previous employment process - discuss previous roles and responsibilities, reason for leaving, and skills gained

• GRN - Goods Received Note, a document used to confirm delivery of goods and receipt of payment

• Depreciation journal entry - an accounting entry used to r...read more

Vendor reconciliation is the process of comparing a company's records with those of its vendors to ensure accuracy and resolve discrepancies.

• Vendor reconciliation involves comparing invoices, payments, and other financial records with those of the vendor.

• It helps to identify any discrepancies or errors in the records and resolve them in a timely manner.

• The process helps to maintain good relationships with vendors ...read more