AP Interview

8/16/2019 AP Interview

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1.Explain about Accounts Payable.

Ans)The Accounts Payable application component records and

manages accounting data for all

vendors. It is also an integral part of the purchasing system:

Deliveries and invoices are

managed according to vendors. The system automatically triggers

postings in response to theoperative transactions. In the same way, the system supplies the

Cash anagement applicationcomponent with figures from invoices in order to optimi!e li"uidity

planning.

2.What is the meaning of invoice?

Ans)An invoice or bill is a commercial document issued by a seller

to the buyer, indicating the products, "uantities, and agreed prices

for products or services the seller has provided the buyer. An invoice

indicates the buyer must pay the seller, according to the payment

terms.

In the rental industry, an invoice must include a specific reference tothe duration of the time being billed, so rather than "uantity, price

and discount the invoicing amount is based on "uantity, price,discount and duration. #enerally spea$ing each line of a rental

invoice will refer to the actual hours, days, wee$s, months etc being

billed.

3% Can you give a sample Pocess !lo" fo Pocue to Pay Cycle?

Ans) Process flow for Procure to pay will go through two departments

&Commercial ' (inance%

Procure ) Commercial Department The following steps invovle to prcure any item

*. +eceived +e"usition from concern Department


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. +e"uest for -uotation from uppliers at least three

/. (inali!e the best -uotation by $eeping in mind about our companies standard

0. Chec$ the 1udget for the same2. 3egociate with supplier for more economic pricing and finali!e the payment terms

4. Process the P5 and forward to the supplier to supply the goods and services

Pay Cycle ) (inance Department

The following steps need to be fulfil

*. Invoice should be match with P5. Invoice should has all the supporting documents such as P5 copy,Delivery note duly signed

by reciever &our staff who authori!ed to received goods 6 store $eeper%

/. If the invoice is for services then it should be forwarded to the concern department head or pro7ect manager for his confirmation of wor$ done and his approval

0. 8ven if it not the services invoice, it should forwarded to the concern person9s approval who

re"uest the P5 for the same2. (inance can re7ect the invoice if it is not budgeted and as$ for the reasons.

4. After receiving all the confirmation and approvals from the concern department heads theinvoice will be update in to the accounting system first in order to avoid any duplication of

Invoice and P5 &it shown on accounting pac$age if the invoice is duplicate if not, altelast it tellsyou if the P5 already used or cancel%

. (inance approved the invoice and process the payment base on payment terms with the

supplier.

#)What ae the $ounals enties in Pocue to Pay Cycle.

Ans)

%esciption %& C&

A) Po ceation 'o Enty 'o Enty

() While &eceiving the goos *ateial &eceiving Ap

Accuval

C) While +nspection 'o Enty 'o Enty

%) While ,ans fo the goo to +nventoy +nv -g *ateial *ateial

&eceiving

Puchase pice aience


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!) While Po +s *atching to +nvoices Ap Accuval /iability

0) While *aing the Payment /iability Cash

Cleaing

) -fte &econciliation Cash Cleaing Cash

+) !inal Enty +nv -g *ateial Cash

)What is the iffeence bet"een E!, 4 Wie?

Ans%8(T and ;I+8 are the most popular form of electronic payment method. 8(T stands forelectronic fund transfer and it is one of the fastest mode of electronic payment after ;I+8. 8(Tis a batch oriented mechanism for transfering funds from one ban$ to another because of which

clearing ' settlement ta$es around to 0 days. 5n the other hand, ;I+8 is a +T# i.e. real time

gross settlement system of ma$ing the fund transfer on real time and gross basis. Clearing and

settlement happens on the same day. ;I+8 is more e


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Payables will use it for every invoice you enter for that supplier site.

If you do not assign a default Distribution et to a supplier site, you

can always assign a Distribution et to an invoice when you enter it.

>se (ull Distribution ets to create distributions with set percentage

amounts, or use $eleton Distribution ets to create distributions

with no set distribution amounts. (or e


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/.Defective "uantity in received "uantity .

0.-uality standards details.

6) o" oes the payment mechanism "o?

Ans) The open items of an account can only be cleared once you

post an identical offsetting amount to the account. In other words,

the balance of the items assigned to each other must e"ual!ero.During clearing, the system enters a clearing document number

and the clearing date in these items. In this way, invoices in a vendor account are indicated as paid, and items in a ban$ clearing account

are indicated as cleared.

=ou generally use the payment program to clear invoices. anual

clearing of open items is therefore not usually necessary. Bowever,

you will sometimes have to clear items manually if, for e


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The base tables in AP are as follows:

1) ap_invoices_all

2) ap_invoice_payments_all

3) ap_invoice_distibutions_All

4) ap_payment_schdules

5) ap_payment_dustributions_all

6) ap_checks_all

7) ap_accounting_events_all

8) ap_bank_accounts_all

9) ap_bank_accounts_uses_all

18) What is the process of creating an Invoices and transferring it to GL?Ans)

1. create batch

2. create invoice

3. create distribution

4. validate the invoice

5. actions -à approve6. if individual create accounting click ok

7. If batch go to batch create accounting.

8. Create accounting hits Payable Accounting(Transfer) ??Program which will create accounting.

9. Run Transfer to GL Concurrent Program

10. Journal Import

11. Post journals

12. Hits balances.

11) How do u Transfer from AP to GL?

Ans)“Payables transfer to GL program” is used to transfer from AP to GL.

12) How many types of invoices are there in AP.

Ans)


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1. Standarad invoice

2. Debit Memo

3. Credit Memo

4. Mixed Invoice

5. Retain age Invoice

6. Transportation invoice7. Prepayment invoice

8. Expenses Report Invoice

9. Payment Request Invoice

10. Po default

13) How many types of purchase order types/agreements are there?

A) Standard Purchase Order: You generally create standard purchase orders for one-time

purchase of various items. You create standard purchase orders when you know the details of the

goods or services you require, estimated costs, quantities, delivery schedules, and accounting

distributions. If you use encumbrance accounting, the purchase order may be encumbered since

the required information is known

B) Planned PO : A planned purchase order is a long-term agreement committing to buy it

items or services from a single source. You must specify tentative delivery schedules and all

details for goods or services that you want to buy, including charge account, quantities and

estimated cost.

EX: Buying goods for Christmas from a specific dealer.

C) Contract PO : You create contract purchase agreement with your supplier to agree on

specific terms and conditions without indicating the goods and services that you will be

purchasing i.e. for $ amount you must supply this much quantity. You can later issue standard

PO referencing your contracts and you can encumber these purchase orders if you use

encumbrance accounting.

D) Blanket PO : You create blanket purchase agreements when you know the detail of goods or

services you plan to buy from a specific supplier in a period , but you do not yet know the detail

of your delivery schedules. You can use blanket purchase agreements to specify negotiated

prices for your items before actually purchasing them.

A Blanket Purchase Agreement is a sort of contract between the you and ur supplier about the

price at which you will purchase the items from the supplier in future. Here you enter the price of the item not the quantity of the items. When you create the release you enter the quantity of the

items. The price is not updatable in the release. The quantity * price makes the Released

Amount. Now suppose your contract with your supplier is such that you can only purchase the

items worth a fixed amount against the contract.


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14.Payment *etho9

A funds disbursement payment method is a medium by which the

first party payer, or deploying company, ma$es a payment to a third

party payee, such as a supplier. =ou can use a payment method to

pay one or more suppliers. 5racle Payments supports several payment methods for funds disbursement, including the following:

• Chec$

• 8lectronic

•wire

• Clearing

Chec9

=ou can pay with a manual payment, a -uic$ payment, or in a

payment batch.

Electonic9

8lectronic An electronic funds transfer to the ban$ of a supplier.=oucreate electronic payments either through the e) Commerce

#ateway, or by delivering a payment batch file to your ban$. (or both methods, Payables creates a file during payment batch creation.

If you are using the e)Commerce #ateway to create the file of payments, an 8DI translator is re"uired to create the 8DI (ormatted

file prior to delivering it to your ban$.(or electronic funds transfers,

the file is formatted and delivered to your ap.out directory for

delivery to your ban$.

Wie9


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;ire (unds transfer initiated be contacting the ban$ and re"uesting

wire payment to the ban$ of a suplier.A payment method where you

pay invoices outside of Payables by notifying your ban$ that you

want to debit your account and credit your suppliers account with

appropriate funds. =ou provide your ban$ with your suppliers ban$

information, and your ban$ sends you confirmation of yourtransaction. =our suppliers ban$ sends your supplier confirmation

of the payment. =ou then record the transaction manually.

Cleaing9

Clearing Payment for invoices transferred from another entity

within the company without creating a payment document.Payment

method you use to account for intercompany e


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/%we have to enter payment terms in the recurring invoice window

0%enter the template no, first invoice amount, special invoice amounts

What ae ,ypes of Pepayment?

Pre)payment invoice are used when there is advance payment made to uppliers against purchases or 8mployees for Travel e


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Procure to pay &pp% is a process of re"uesting, purchasing, receiving, paying for and accounting

for goods and services. Procure to Pay ifecycle is one of the important business Process in

5racle Applications. Its the flow that gets the goods re"uired to do business. It involves the

transactional flow of data that is sent to a supplier as well as the data that surrounds the

fulfillment of the actual order and payment for the product or service.

Create a re"uisitionFF create +(-FF create a "uotation from "uote analysisFF generate a

P5FFreceipt of materialFF create Invoice in payablesFF transfer to #

Can "e automatically =Close> the Puchase oe "ithout eceiving the full


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A prepayment is a type of invoice you enter to ma$e an advance payment. ;e can ad7ust

prepayment against standard invoice in future.

Can "e change invoice if "e mae the payment?

=es, we can change if its not accounted and if the amount e


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8ncumbrance used to reserve the funds at the time of raising P+ or P5.

What ae the iffeent types of supplie site?

Purchasing,Pay,Primary pay,+(- only,Procurement card

o" can "e efault supplie site at invoice level?

8nable primar pay chec$ bo< in supplier site for that particular site.

What is the use of Withholing invoice an "hich scenaio?an accounting enty?

At the time of doing withholding ta< ,this invoice used to generate.

;hen ;ithholding ta< applied on standard Invoice:

Item 8 wise.

o" many types of payment metho.


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There are 2 types of Payment methods i.e. 1ills payable,Chec$,8lectronic,5utsourced

Chec$,;ire

What is pay goup?

It is to group invoices in to supplier category for payments.

What is pepayment settlement ate in payable option?

3umber of days you want Payables to add to the system date to calculate a default settlement

date for a prepayment. Payables prevents you from applying the prepayment to an invoice

until on or after the settlement date.

What is 0/ ate basis in payable option?

The date you want Payables to use as the default accounting date for invoices during invoice

entry.

Invoice Date)Invoice date you enter during invoice entry.

ystem Date)Current date for your Payables system. The date you enter the invoice.

#oods +eceived6Invoice Date)Date that you enter in the Date #oods +eceived field. If no

value is entered, then the invoice date is used.

#oods +eceived6ystem Date)Date that you enter in the Date #oods +eceived field. If no

value is entered, then the system date is used.

What is iffeence bet"een ebit memo an ceit memo?

Debit emo: A negative change in invoiced amount identified by customer and sent to

supplier. 8


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It can use the Payables 5pen Interface Import program to create Payables invoices from

invoice data in the Payables 5pen Interface Tables

ese Payables 5pen Interface Import to import invoices from the Payables 5pen Interface

Tables.

What is *ulti Cuency payments?

ulti currency is possible but we have to set up at the time of 1an$ Creation.

Can "e implement *&C at Payables?

=es, but we have to enable multiple currency option at payable options

What oes the ;naccounte ,ansaction :"eep &epot o?

It will sweep the transaction to nenpaid. Payables also reverses any reali!ed gains or losses on foreign

currency invoices recorded as paid by the payment

What ae the types of $ounal categoies available in the AP?

Payable

What is meant by matching an "hat ae the types of matching>s available?

way)Invoice and P5, / way)Invoice,P5 and +eceipt and 0 way)Invoice,P5,+eceipt and

Inspection

What is a ol an &elease? ,ypes of hol?

Bold means restriction in invoice for further processing.>ser can define any $ind of holds to

hold the invoice for further processing.

Type:)anual and ystem hold

o" to appove =n> no. of invoices?

=ou can be Approved n number of invoices using the +e"uest JInvoice alidationJ


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What is eoPayment in AP?

Create !ero)amount payments to pay basic invoices with offsetting credit or debit memos, or

to record cancelled invoices as paid so they are no longer included on the Invoice Aging

+eport. 1efore you ma$e a !ero)amount payment, you must enable the Allow !ero payments in

ban$ accounts

o" to tansfe funs bet"een you intenal bans?

(rom cash management we can directly transfer the funds between the ban$ accounts

Can + fin out "hich invoices ae matche to a P-?

yes

E&: +nvoice means?

8valuated +eceipt settlement ;hich ma$es auto invoice in payable.

What is meant by &,: tansactions?

+eturn to supplier which has to assign at the time of creating supplier.

What ae the steps to efine a (an?

*. >ser management)+ole)ecurity wi!ard through ys Admin .1an$ branch /. 1an$

Account 0.1an$ Document assignment

o" to assign Cash cleaing Account ?

;hile doing ban$ creation, we have to give cash clearing account.

7.How the terms date will be calculated for recurring invoices?

When Payables creates recurring invoices, the invoice date is the first date of the period in which

the recurring invoice is created. The Terms Date depends on the Terms Date Basis setting at the

supplier site, but is calculated differently than for regular invoices:

If the Terms Date Basis is set to ystem Date, then the Terms Date is the same date that the

recurring invoice was created.

If the Terms Date Basis is set to anything else, then the Terms Date is the invoice date, which

is the first day of the period in which the recurring invoice is created.

8.What is the default invoice date for recurring invoices?

!very month first date will be the default date for recurring invoice.

".#ow to define foreign currency recurring Invoice Template $ What are the additional

considerations$


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%ptionally change the invoice currency, which is your functional currency unless you have a

supplier site default. If you enter a foreign currency, enter e&change rate information when you

create invoices based on the template.

10. What are the prerequisites for auto creation of Debit emo of !"#

transactions?

'hec( the chec( bo& )'reate Debit memo for *T transactions+ under purchasing Tab page in

upplier site. nd in purchase module in )*eturns -orm+ 'hec( the 'hec( Bo& 'reate debit

memo.

Types of Invoices in AP:

The different types of invoices available in Payables are:

1. Standard Invoices: Standard invoices are the invoices issued by a supplier to the buyer,

representing the amount due for the products or services the supplier has provided to the

buyer.

Standard invoices can be either matched to a purchase order or not matched.

A standard invoice must be positive amount.

2. Mixed Invoices: Mixed invoices are the invoices hich can have either positive or

negative amounts and can be matched to both purchase orders and invoices.

!or example, if there is a mixed invoice for "#$%%%, you can either match it to an invoice

ith "#$%%% or to a purchase order ith an amount "$%%%.

3. Credit Memo: &redit memo is an invoice raised by the supplier to the buyer ith

negative amount. It reduces the supplier balance and reduces the liability.

!or example the customer has returned some of the goods that he purchased, the supplier

sends a credit memo to the buyer to ad'ust the balance.

4. Debit Memo: (ebit memo is an invoice raised by the customer to supplier ith negative

amount.


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The functionality of (ebit Memo is same as &redit Memo. )oth are to reduce the liability.

The purpose of (ebit Memos is to record a credit for a supplier ho does not send you a

credit memo.

Unlike in AR, both Credit memo and Debit memo are with negative signs in Payables.

5. Prepayment: Prepayments are the invoices raised to record advance payments to a

supplier or employee.

6. xpense !eports: *xpense reports are the invoices that represent amount due to an

employee for all his business related expenses.

+. !etaina"e !e#ease Invoices: etainage release is the act of releasing, or paying, that

portion of a payment that as ithheld until a substantial portion or all of the service

procurement or- is completed. The amounts retained during the life of the contract must

be released and paid to the supplier or sub#contractor once all or a substantial portion of the

or- is completed.

racle Payables uses the etainage elease e/uest to create a type of invoice called

etainage elease. A retainage release invoice has lines, hich are copied from the

original standard progress invoices, hich sho an amount left to be released.

Retainage release invoices can only be entered manually in the Invoice Workbench

window.

$. %it&&o#din" 'ax: After you apply ithholding tax to an invoice, you can optionallycreate invoices to remit ithheld tax to the tax authority.

Payables can automatically create ithholding tax invoices, or you can perform this

tas- manually. If you choose to automatically create ithholding tax invoices, you must

choose hether to do this during Invoice 0alidation or during payment processing.


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(. P) Price *d+,stment Invoices: P Price Ad'ustment Invoices are used for recording

the difference in price beteen the original invoice and the ne purchase order price.

!or example, If a supplier sends an invoice for a change in unit price for an invoice you

have matched to a purchase order, P Price Ad'ustment Invoices can be used to ad'ust the

invoiced unit price of previously matched purchase order shipments or distributions ithout

ad'usting the /uantity billed.

P price ad'ustment invoices can be matched to both purchase orders and invoices.

1-. ,ic/ invoices: 1sed for /uic-, high#volume invoice entry for invoices that do not

re/uire extensive validation and defaults. After entry, you import these into the Payables

system. 0alidation and defaulting occur during import

2hen e enter transactions in Purchasing, the accounting entries ill get generated ith

respect to the folloing accounts.

$. %&en Creatin" a receipt :

Inventory eceiving A3& (

Accrual Account &

4. *t t&e time o0 !eceivin" transactions:

Asset clearing A3c or Inventory valuation a3c (

Inventory eceiving A3c &

5. %&en a Payab#es invoice matc&ed it& P) :

Accrual A3& (

6iability A3c

7. &en asset addition done:

Asset A3c (

Asset &learing A3c &8Asset item9


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89

expense a3c (

inventory 0aluation A3&8Inventory item9

2hen e enter transactions in Payables, the accounting entries ill get generated ith


$. Invoice: 2hen e create accounting for an invoice, the accounting ill be generated ith


Item *xpense A3& (

6iability A3& &

4. Payment : There are to stages in hich the accounting may generate, based on the

accounting option that e setup in Payables.

Direct Pay!"o Clearance# In this stage, there ill be no clearance process separately and

the cash account ill get credited directly.

6iability A3& (

&ash A3& &

Pay and Clear# In this stage, the payment and clearance process ill have separate

accounting entries.

At the time of Payment#

6iability A3& (

&ash &learing A3& &

At the time of Clearance#

&ash &learing A3& (

&ash A3& &


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2hen e enter transactions in Receivables, the accounting entries ill get generated ith


$. *cco,ntin" 0or invoice:

eceivables A3& (

evenue Account &r

4. Credit memo:

evenue (r

eceivables A3& &

5. !eceipts:

&ash A3& (

eceivables A3c &

While your resume gets your foot in the door, it's the in person interview that will make or

break you as a candidate for an accounting position. Actively preparing for your interview,

including practicing answers to common accounting interview questions, will help you make

a great first impression on the hiring manager. Read on to learn more about the five most

common accounting interview questions.

1. Why Do You Want to Be an Accountant?

This fairly standard interview question is a typical warm-up, since it's an opening that breaks

the ice and allows the hiring manager to get to know you better. That doesn't mean,

however, that it's a throwaway question. You should answer thoughtfully by giving examples

of things that happened in your life that led you to the accounting field. Were you the fifthgrade class treasurer? Did you save for months to buy your first car? Whatever the

scenario, give the interviewer some background about yourself and your studies.


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2. Do You Possess Any Knowledge of Accounting

Standards?

Even if you've never had a job in the field before, you should be prepared to answer this

question with some knowledge of international accounting standards (IAS). While there are

so many facets of IAS that it would be possible to be up to speed on all of them, prior to an

interview you should do some research on the most recent changes to these standards and

be prepared to discuss.

3. How Do You Minimize the Risk for Errors in Your Work?

As an accountant, you'll be held to a very high standard of excellence, especially since even

the smallest errors can lead to big financial issues. In response to this question, it's

important to discuss the importance of checking your work several times and establishing a

system of checks and balances. It also helps to give an example of a time that you caught

an error through double checking or another method.

4. Describe a Time When You've Helped Reduce Costs

This can be a challenging question, especially if you've never held an accounting job before.

While some accountants strictly do their jobs, others go above and beyond by making

suggestions to management and identifying areas where money can be saved. By

describing a scenario from your coursework or an internship, you can show the hiring

manager that you're willing to go beyond and be a team player.

5. Where Do You See Yourself in Five Years?

A common question in all industries, this question gives you the chance to show off your

foresight and ambition. Your answer should be both modest and truthful, highlighting the

things that you hope to learn from a position with the organization you're interviewing with

while displaying a solid plan for your short term career trajectory.


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By preparing for these accounting interview questions, you can increase your chance of

getting a job in your chosen field, even if you're a new graduate. It may be helpful to practice

with friends or family members before you land your first interview. And for more valuableinterview tips, visit LiveCareer’sInterview Tips page.

A&&1;TS P A


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2.What is the meaning of invoice?

Ans)An invoice or bill is a commercial document issued by a seller

to the buyer! indicating the products! &uantities! and agreed prices

for products or services the seller has provided the buyer. An invoiceindicates the buyer must pay the seller! according to the payment

terms.

In the rental industry! an invoice must include a speci$c reference to

the duration of the time being billed! so rather than &uantity! price

and discount the invoicing amount is based on &uantity! price!

discount and duration. 'enerally spea(ing each line of a rental

invoice ill refer to the actual hours! days! ee(s! months etc being

billed.

3) an you give a sample P!ocess "lo# fo! P!ocu!e to Pay ycle?

Ans) Process *o for Procure to pay ill go through to departments

+"ommercial , -inance)

Procure "ommercial Department The folloing steps invovle to prcure any item/. Received Re&usition from concern Department

0. Re&uest for 1uotation from 2uppliers at least three

3. -inali%e the best 1uotation by (eeping in mind about our companies standard

4. "hec( the 5udget for the same

6. 7egociate ith supplier for more economic pricing and $nali%e the payment

terms

8. Process the P9 and forard to the supplier to supply the goods and services

Pay "ycle -inance Department

The folloing steps need to be ful$l/. Invoice should be match ith P9

0. Invoice should has all the supporting documents such as P9 copy!Delivery note

duly signed by reciever +our sta ho authori%ed to received goods ; store (eeper)

3. If the invoice is for services then it should be forarded to the concern

department head or project manager for his con$rmation of or( done and his

approval


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4. Even if it not the services invoice! it should forarded to the concern person


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") While Po +s *atching to +nvoices Ap Accu!val

/iability

0) While *aing the Payment

/iability ash lea!ing

) -fte! &econciliation ash

lea!ing ash

+) "inal Ent!y +nv -!g

*ate!ial ash

)What is the ie!ence bet#een E", 5 Wi!e?

Ans)E-T and >IRE are the most popular form of electronic payment method. E-T

stands for electronic fund transfer and it is one of the fastest mode of electronic

payment after >IRE. E-T is a batch oriented mechanism for transfering funds from

one ban( to another because of hich clearing , settlement ta(es around 0 to 4

days. 9n the other hand! >IRE is a RT'2 i.e. real time gross settlement system of

ma(ing the fund transfer on real time and gross basis. "learing and settlement

happens on the same day. >IRE is more e?pensive and faster than E-T.

>9 2hat is meant by (istribution Sets:


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Ans) @ou can use a Distribution 2et to automatically enter

distributions for an invoice hen you are not matching it to a

purchase order. -or e?ample! you can create for an advertising

supplier a Distribution 2et that allocates advertising e?pense on aninvoice to four advertising departments.

@ou can assign a default Distribution 2et to a supplier site so

Payables ill use it for every invoice you enter for that supplier site.

If you do not assign a default Distribution 2et to a supplier site! you

can alays assign a Distribution 2et to an invoice hen you enter it.

se -ull Distribution 2ets to create distributions ith set percentage

amounts! or use 2(eleton Distribution 2ets to create distributions

ith no set distribution amounts. -or e?ample! a -ull Distribution 2et

for a rent invoice assigns =BC of the invoice amount to the 2ales

facility e?pense account and 3BC to the Administration facility

e?pense account. A 2(eleton Distribution 2et for the same invoice

ould create one distribution for the 2ales facility e?pense account

and one distribution for the Administration facility e?pense account!

leaving the amounts %ero. @ou could then enter amounts during

invoice entry depending on variables such as that monthARE 92E.TI2 "A7 5E PREPARED 5@ 2T9RE2 DEPART#E7T

A7D APPR9ED 5@ PFA7T EAD. 'R7 "97TAI72 9RDERED

1T@!RE"EIED 1T@ A7D A""EPTED 1T@. 5IFF >IFF 5E PA22ED

5A2ED TE 'R7 79TE. 97"E TE 'R7 I2 PREPARED


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AT9#ATI"AFF@ I7E7T9R@ >IFF 5E PDATED A7D A""9RDI7'F@

PA@#E7T >IFF 5E REFEA2ED T9 TE E7D9R.

'R7 contains the folloing details.

/.9rdered &uantity .

0.Received 1uantity.

3.Defective &uantity in received &uantity .

4.1uality standards details.

7) o# oes the payment mechanism #o!?

Ans) The open items of an account can only be cleared once you

post an identical osetting amount to the account. In other ords!

the balance of the items assigned to each other must e&ual

%ero.During clearing! the system enters a

clearing document number and the clearing date in these items. In

this ay! invoices in a vendor account are indicated as paid! and

items in a ban( clearing account are indicated as cleared.

@ou generally use the payment program to clear invoices. #anual

clearing of open items is therefore not usually necessary. oever!

you ill sometimes have to clear items manually if! for e?ample! you

receive a refund from your vendor or you have set up a direct

debit procedure.

8) %ie!ence bet#een inte!face tables an base tables?

Ans) The dierence beteen the interface and base tables is as

belo


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Interface table: is the table here the data gets validated before

data get posted to the base tables. There are many interfaces hich

are seeded ith 9racle. @ou can consider as the entry point of thedata! and the interface chec(s the sanity of data.

5ase tables: As told earlier once the data is validated ill get

updated in the base tables! and is considered as the data hich is in

the base table is accurate and used in many ays. +Reporting..etc..)

The base tables in AP are as follows:

1) ap_invoices_all

2) ap_invoice_payments_all

3) ap_invoice_distibutions_All

4) ap_payment_schdules

5) ap_payment_dustributions_all

6) ap_checks_all

7) ap_accounting_events_all

8) ap_bank_accounts_all

9) ap_bank_accounts_uses_all


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19) What is the process of creating an Invoices and transferring it to GL?

Ans)

1. create batch

2. create invoice

3. create distribution

4. validate the invoice

5. actions -à approve

6. if individual create accounting click ok

7. If batch go to batch create accounting.

8. Create accounting hits Payable Accounting(Transfer) ??Program which will create accounting.

9. Run Transfer to GL Concurrent Program

10. Journal Import

11. Post journals

12. Hits balances.

11) How do u Transfer from AP to GL?

Ans)“Payables transfer to GL program” is used to transfer from AP to GL.

12) How many types of invoices are there in AP.

Ans)

1. Standarad invoice

2. Debit Memo

3. Credit Memo

4. Mixed Invoice

5. Retain age Invoice


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6. Transportation invoice

7. Prepayment invoice

8. Expenses Report Invoice

9. Payment Request Invoice10. Po default

13) How many types of purchase order types/agreements are there?

A) Standard Purchase Order: You generally create standard purchase orders for one-time purchase of

various items. You create standard purchase orders when you know the details of the goods or services

you require, estimated costs, quantities, delivery schedules, and accounting distributions. If you use

encumbrance accounting, the purchase order may be encumbered since the required information is known

B) Planned PO : A planned purchase order is a long-term agreement committing to buy it

items or services from a single source. You must specify tentative delivery schedules and all details for

goods or services that you want to buy, including charge account, quantities and estimated cost.

EX: Buying goods for Christmas from a specific dealer.

C) Contract PO : You create contract purchase agreement with your supplier to agree on specific terms

and conditions without indicating the goods and services that you will be purchasing i.e. for $ amount you

must supply this much quantity. You can later issue standard PO referencing your contracts and you can

encumber these purchase orders if you use encumbrance accounting.

D) Blanket PO : You create blanket purchase agreements when you know the detail of goods or services

you plan to buy from a specific supplier in a period , but you do not yet know the detail of your delivery

schedules. You can use blanket purchase agreements to specify negotiated prices for your items before

actually purchasing them.

A Blanket Purchase Agreement is a sort of contract between the you and ur supplier about the price at

which you will purchase the items from the supplier in future. Here you enter the price of the item not the

quantity of the items. When you create the release you enter the quantity of the items. The price is not


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updatable in the release. The quantity * price makes the Released Amount. Now suppose your contract

with your supplier is such that you can only purchase the items worth a fixed amount against the

contract.

14.Payment *etho:

A funds disbursement payment method is a medium by hich the

$rst party payer! or deploying company! ma(es a payment to a third

party payee! such as a supplier. @ou can use a payment method to

pay one or more suppliers. 9racle Payments supports several

payment methods for funds disbursement! including the folloing:

• "hec(

• Electronic

• ire

• "learing

hec:

@ou can pay ith a manual payment! a 1uic( payment! or in a

payment batch.

Electo!nic:

Electronic An electronic funds transfer to the ban( of a supplier.@ou

create electronic payments either through the e "ommerce

'ateay! or by delivering a payment batch $le to your ban(. -or

both methods! Payables creates a $le during payment batch


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creation. If you are using the e"ommerce 'ateay to create the $le

of payments! an EDI translator is re&uired to create the EDI

-ormatted $le prior to delivering it to your ban(.-or electronic funds

transfers! the $le is formatted and delivered to your ap.out directoryfor delivery to your ban(.

Wi!e:

>ire -unds transfer initiated be contacting the ban( and re&uesting

ire payment to the ban( of a suplier.A payment method here you

pay invoices outside of Payables by notifying your ban( that you

ant to debit your account and credit your supplierGs account ith

appropriate funds. @ou provide your ban( ith your supplierGs ban(

information! and your ban( sends you con$rmation of your

transaction. @our supplierGs ban( sends your supplier con$rmation of

the payment. @ou then record the transaction manually.

lea!ing:

"learing Payment for invoices transferred from another entity ithin

the company ithout creating a payment document.Payment

method you use to account for intercompany e?penses hen you do

not actually disburse funds through ban(s. @ou do not generate a

payment document ith the "learing payment method. >hen you

enter the invoice! you enter "learing for the payment method.@ou

can record a "learing payment using a #anual type payment only.

1.What i !ecu!!ing invoices? What a!e AP setup steps?


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Ans) some times suppliers ould not be sending any invoices. but still

the payment have to made to home: rent! lease rentals. in this situation e have to

create invoice every period ise. -or that purpose e have to create one

recurringinvoice template. Template means ith one master copy creating themultiple invoices is called template. ere e are creating the one invoice master

copy is formally (non as recurring invoice or recurring invoice template.

;E,


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Ae you happy "ith you caeetoate?

A: This B+ interview "uestion is really about your self)esteem, confidence and caee

aspirations. The answer must be Lyes, followed by a brief e


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The second option is to describe a personal or professional wea$ness that could also be

considered to be strength and the steps you have ta$en to combat it. An e

AP Interview

Documents

Transcript of AP Interview