Interview Questions

Following steps should be taken

>Validate the invoice once it is matched for checking any holds..

>If workflow is implemented , Initiate approval for the invoice. Once the invoice is approved/Approrval not required(status in case WF is not implemented) you can go for payments.

>Create accounting after approval of invoice..

Finally for payments you need to format, build
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Before making payment

the following steps should be taken
1. invoice amt, date, qty, quy,
2. invoice duplication or not
3. rectification of any Errors in invoice
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Before hand over the invoice or dispatch the materials
1.we have to receive perchase order from the customer
2.Then PDC cheque, cash or current dated chq for dispatch the materials
3.have to take signature from the customer for the proof of goods recieve
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We must check the invoice thoroughly.
(1) Date of Invoice
(2)Qty,Rate,Tax Levid

A mischarge correction is when the wrong account line was used or the wrong amount was entered. The account that was wrongly charged needs to be credited and the correct account needs to be debited. The information needs to be recorded and duly noted for your office and for the main office. A journal voucher, showing the correction, should be completed as soon as possible. The accountswill not balance at the end of the fiscal year if these corrections are not properly made.

As the name itself implies, it have to depend on other class only.

Enumeration is twice as fast as compared to an Iterator and uses very less memory. However, the Iterator is much safer compared to Enumeration, because other threads are not able to modify the collection object that is currently traversed by the iterator. Also, Iteratorsallow the caller to remove elements from the underlying collection, something which is not possible with Enumerations.

The Panel and Applet classes use the FlowLayout as their default layout.

Accounts payable process is required in a company because this will help and guide the accountant to manage their payables with in the normal course of the business.

This includes verifying and checking the invoice details including the credit terms, due date, mode of payment, payee and the items received. Only the items received will be paid. Incase theres a discrepancy against the actual receipts, a credit note will be raised by the supplier against the short-shipped invoice.

At the end of the month, AP reconcilition is required confirming both parties balances thru the statement of accounts (SOA). This you can identify which invoices or payment hasnt been booked yet by both parties and you will end up with the same balances, (equal balance from your company and with their company).