CoolInterview.com - World's Largest Collection of Interview Questions
Start Your Own website Now
Sponsored Links

Interview Questions
Our Services

Get 9,000 Interview Questions & Answers in an eBook.


  • 9500+ Pages
  • 9000 Question & Answers
  • All Tech. Categories
  • 14 MB Content

    Get it now !!



    Send your Resume to 6000 Companies


  • INTERVIEW QUESTIONS ACCOUNTS ACCOUNTS PAYABLE DETAILS
    Question :
    What is account payable?
    How we pass the entries in account payable and related all the question based on account payable?


    Posted by: nand kishore roy on 12/21/2008

    Contact nand kishore roy Contact nand kishore roy
    Category Accounts Payable Interview Questions
    Rating (0.3) By 1602 users
    Added on 12/21/2008
    Views 2146
    Rate it!
    Answers:

    Account payable is the outstanding balance that we must pay to the third party or suppliers.
    We pass the entries in account payable from two sides: purchase order and general ledger. Purchase order module will be posted after material order has been arrived in warehouse and combining with invoice plus related documents that have been approved by authorized person. General ledger normally from service entry where it must be attached by service agreement between company and third party.



    Posted by: alisika    

    Contact alisika Contact alisika

    Accounts Payable is a short term liability of an organization. It's a process by which a company buys goods and services on credit and is billed in the form of an invoice, which states the terms and conditions of the payment. Accounts Payable is recorded as a current liability in the balance sheet. All accounts paayble entries are to be coded under the right G/L accounts to have an accurate picture of the company's short term liability.



    Posted by: Asif Khan    

    Contact Asif Khan Contact Asif Khan

    a/p which show the balance sheet on liability,who purchase the goods and service on credit .



    Posted by: shashikumar    

    Contact shashikumar Contact shashikumar

    When booking invoice:
    Purchases a/c ....dr
    To Party
    (if it is a credit purchase other wise cash is credited)
    When making payment in cheque:

    Party a/c ...dr
    To Post dated cheque
    (if cash is paid cash will be credited)

    When money is with drawn from the bank:

    Bank a/c ....dr
    To Cash



    Posted by: Reshmi Jacob    

    Contact Reshmi Jacob Contact Reshmi Jacob

    accounts payable is module in SAP.For making payments to a vendor agst. the goods/services provided by the vendor,it handles all the liabilities.



    Posted by: Harinder    

    Contact Harinder Contact Harinder

    Account payable is a process of paying amount to supplier or third party as per the purchase order made.we see three types of account payable entries
    1) at point of goods received to wharehouse or store
    2)at the time of invoice received
    3)on payment of invoice
    when a supplier sends goods to the purchaser the goods are reserved or kept at wharehouse as soon as goods received after the verfication entry will be
    inventory a/c dr
    to grni/grin/recipt controla/c(suspense)
    after the goods received and GRN(GOODS RECEIPT NOTE)issued then invoice raised and entry will be
    grni/grin/recipt controla/c dr
    To vendor a/c
    after invoice received and verified we have to issue payment entry
    Vendor a/c dr
    to bank a/c
    these are the main three entries for initial ap process includes




    Posted by: vaghdutt    

    Contact vaghdutt Contact vaghdutt

    Accounts payable are the short term obligations of a company, which arise when it purchases some goods on credit or receive some service whose payment is still due. AP are shown under the head current liabilities in the balance sheet.



    Posted by: rinky malhotra    

    Contact rinky malhotra Contact rinky malhotra

    money which is owned to vendors for products and services purchased on credit.

    entry for accounts payable:

    purchase A/c.........Dr

    To, party A/c



    Posted by: B. chandra Reddy    

    Contact B. chandra Reddy Contact B. chandra Reddy

    Accounts Payable means All Creditors and Company Direct& Indirect Exp
    After Bill passing

    Vendor A/c Dr.
    Bank/Cash A/c Cr



    Posted by: Arun Mane    

    Contact Arun Mane Contact Arun Mane

    Accounts Payable is a Short term Liability. For ex:- when goods purchased from vendor on 30 days credit Basis After the due date we have to pay that amount as per invoice (payments terms & Conditions)



    Posted by: M.S. BASAVARAJA SWAMY    

    Contact M.S. BASAVARAJA SWAMY Contact M.S. BASAVARAJA SWAMY

    Accounts payable means payment against invoices.



    Posted by: Basavaraj Gobbani    

    Contact Basavaraj Gobbani Contact Basavaraj Gobbani

    Account payable is the outstanding balance that we must pay to the third party or suppliers.
    We pass the entries in account payable from two sides: purchase order and general ledger. Purchase order module will be posted after material order has been arrived in warehouse and combining with invoice plus related documents that have been approved by authorized person. General ledger normally from service entry where it must be attached by service agreement between company and third party.Accounts payable are the short term obligations of a company, which arise when it purchases some goods on credit or receive some service whose payment is still due. AP are shown under the head current liabilities in the balance sheet.




    Posted by: amit    

    Contact amit Contact amit

    Accounts Payable ( Creditors ) Means as soon as we receive Materials from vendors immediately vendor will be liable to us and payment will be made accordingly as per the terms of Purchase Orders



    Posted by: Shyamprasad Venkata M    

    Contact Shyamprasad Venkata M Contact Shyamprasad Venkata M

    Money owed to the customer, vendor or the purchaser of goods and services is nothing but Accounts Payable



    Posted by: Rajshekhar Shindhe    

    Contact Rajshekhar Shindhe Contact Rajshekhar Shindhe

    When booking invoice:
    Purchases a/c ....dr
    To Party
    (if it is a credit purchase other wise cash is credited)
    When making payment in cheque:

    Party a/c ...dr
    To Post dated cheque
    (if cash is paid cash will be credited)

    When money is with drawn from the bank:

    Bank a/c ....dr
    To Cash




    Posted by: ravi    

    Contact ravi Contact ravi

    When money is with drawn from the bank:
    cash a/c dr
    to bank
    pls up date if there is any chances



    Posted by: ravi    

    Contact ravi Contact ravi

    Accounts payable is the liability that result from the purchase of goads & services on credit as per agreed by the vendors.



    Posted by: Haq    

    Contact Haq Contact Haq

    Accounts payable is nothing but a liabilty regarding purchases and services made on credit basis from a vendor or a creditor



    Posted by: SRINU    

    Contact SRINU Contact SRINU

    Accounts payable is nothing but what we have to pay to the Vendor or to the supplier, because we have bought some goods for credit from the Vendor. In respect all the items present in the Bill of invoice to be entered in the SAP or in Oracle to pay the payment to them.



    Posted by: Kanniappan.M    

    Contact Kanniappan.M Contact Kanniappan.M

    i want to the payable cycle from where the payable starts and how it effects in balance and what will be the general entries



    Posted by: MIRZA AMJED ALI BAIG    

    Contact MIRZA AMJED ALI BAIG Contact MIRZA AMJED ALI BAIG

    If you have the better answer, then send it to us. We will display your answer after the approval.
    Rules to Post Answers in CoolInterview.com:-

  • There should not be any Spelling Mistakes.
  • There should not be any Gramatical Errors.
  • Answers must not contain any bad words.
  • Answers should not be the repeat of same answer, already approved.
  • Answer should be complete in itself.
  • Name :*
    Email Id :*
    Answer :*
    Verification Code Code Image - Please contact webmaster if you have problems seeing this image code Not readable? Load New Code
    Process Verification  Enter the above shown code:*
    Inform me about updated answers to this question

       
    Related Questions
    View Answer
    Explain about Accounts Payable.
    View Answer
    Can you give a sample Process Flow for Procure to Pay Cycle?
    View Answer
    What is the types of assets?
    View Answer
    give me details about capital market related questions?
    View Answer
    Tell us about an invoice discrepancy that you discovered and how you resolved the discrepancy.

    View Answer
    Tell us about your experience in accounts payable.

    View Answer
    What items of information do you need before you can approve an invoice for payment?

    View Answer
    How many invoices have you handled on a monthly basis?

    View Answer
    What is the difference between billable and non-billable expenses?

    View Answer
    What steps would you take before approving an invoice for payment?

    View Answer
    What is the meaning of invoice?

    View Answer
    What procedure for excess payment to supplier i would like know without adjusting invoice that means how supplier will send back excess amount how do in oracle apps

    View Answer
    What is the difference between Consiner and Consinee?

    View Answer
    What is the difference between SAP MEMORY and ABAP MEMORY?

    View Answer
    How is a PO (Purchase order created)?

    View Answer
    How does the payment mechanism work?

    View Answer
    What is a Parked Report?

    View Answer
    What do you understand by Open Item Managed Account?

    View Answer
    What do you mean by WCC?

    View Answer
    What is the difference between EFT & Wire?

    View Answer


    Please Note: We keep on updating better answers to this site. In case you are looking for Jobs, Pls Click Here Vyoms.com - Best Freshers & Experienced Jobs Website.

    View ALL Accounts Payable Interview Questions

    User Options
    Sponsored Links


    Copyright ©2003-2014 CoolInterview.com, All Rights Reserved.
    Privacy Policy | Terms and Conditions

    Download Yahoo Messenger | Placement Papers| FREE SMS | ASP .Net Tutorial | Web Hosting | Dedicated Servers | C Interview Questions & Answers

    Testing Articles | Testing Books | Testing Certifications | Testing FAQs | Testing Downloads | Testing Interview Questions | Testing Jobs | Testing Training Institutes


    Cache = 0.013672 Seconds