Interview Questions.

Q1. What Is The Difference Between Eft and Wire?
The Payment techniques Electronic and Wire are methods of Electronic Fund Trfers . These modes could contrast in the configurations and reports required at the site level. WIRE is a sort of obsolete strategy involved by remote destinations for installments in ORACLE. Language may be different however the genuine mode is same of both of them.

Q2. What Is Debit And Credit From The Customer Point Of View ?
charge me "receivable" and credit me "payable".

Q3. How Does The Payment Mechanism Work?
The open things of a record must be cleared once you post an indistinguishable balancing add up to the record. At the end of the day, the equilibrium of the things doled out to one another should rise to nothing. During clearing, the framework enters a clearing report number and the clearing date in these things. Along these lines, solicitations in a merchant account are demonstrated as paid, and things in a bank clearing account are shown as cleared. You by and large utilize the installment program to clear solicitations. Manual getting free from open things is consequently not generally important. In any case, you will once in a while need to clear things physically if, for instance, you get a discount from your merchant or you have set up an immediate charge strategy.

Q4. What Is Going on with Grn?
GRN me products receipt notes ,it is by and large utilized in assembling enterprises for checking of bought of natural substances .
GRN contains the accompanying subtleties.

Requested amount .
Gotten Quantity.
Blemished amount in got amount .
Quality guidelines subtleties.
Q5. What Is Going on with Invoice?
Receipt is an explanation which contains the under referenced subtleties obligatorily:

Receipt Number
Receipt date
Name and address of the individual making the receipt ( Seller of products and administration)
Name and address of the individual to whom receipt is made. ( Buyer of merchandise and administration)
Portrayal of merchandise/administrations included
Material rates and duties with rates
Pace of the products/administrations
Amount of the labor and products
Quality or some other determinations
Cost/Value of the labor and products
Receipt should be endorsed by the individual making it
Agreements of making the installment.
Q6. What Items Of Information Do You Need Before You Can Approve An Invoice For Payment?
@Have the merchandise been gotten all neat and tidy ?
@Is the amount/cost right ?
@Were you anticipating any markdown ?
@Is the conveyance charge right ?

Q7. What Steps Would You Take Before Approving An Invoice For Payment?
Following advances ought to be taken:

Approve the receipt whenever it is matched for really looking at any holds.
In the event that work process is executed, start endorsement for the receipt. When the receipt is supported/Approval not needed (status on the off chance that WF isn't carried out) you can go for installments.
Make bookkeeping after endorsement of receipt.
At long last for installments you want to arrange, assemble.

Q8. What Is Debit And Credit From The Banks Point Of View?
Credit what comes in.
Charge what goes out.

Q9. What Procedure For Excess Payment To Supplier I Would Like Know Without Adjusting Invoice That Me How Supplier Will Send Back Excess Amount How Do In Oracle Apps
Abundance installment to provider is treated as Advance paid to provider. This will show as charge balance in provider account. Provider can send the installment via check/request draft without changing in his ensuing bills.t

Q10. What Is Meant By Liabilities?
Liabilities are what all you owe from the bank on notes payable or all in all it is:

Liability=Asset-Owners value.

Q11. What Is A Parked Report?
You can utilize report stopping to enter and store (park) fragmented archives in the SAP System without completing broad section checks.

Q12. What Is Account?
Account is 'the specialty of ordering, examining, Recording and summing up monetary data', to the administration.

Q13. Make sense of About Accounts Payable?
Creditor liabilities is only cash which an organization need to pay to sellers for labor and products bought using a credit card.

Creditor liabilities is an ongoing risk of an organization.
This thing shows up on risk side of a monetary record.
Q14. What Procedure For Excess Payment To Supplier I Would Like Know Without Adjusting Invoice That Me How Supplier Will Send Back Excess Amount How Do In Oracle Apps?
Abundance installment to provider is treated as Advance paid to provider. This will show as charge balance in provider account.
Provider can send the installment via check/request draft without changing in his resulting bills.

Q15. What Do You Understand By Open Item Managed Account?
Open thing the board guarantees that all things that poor person yet been cleared are accessible in the framework. Solely after each open thing in a report is cleared could a record at any point be filed.

Q16. What Is Fbt (incidental advantage Tax)?
The duty payable on a non-compensation benefit gave to a worker or a partner of the representative. The business is obligated to pay any FBT and may decide to recuperate the FBT sum from the representative.

Q17. What Is The Difference Between Sap Memory And Abap Memory?
SAP Memory: Global, client related memory that reaches out past footing limits. Admittance to the SAP memory is by means of SPA/GPA boundaries.
ABAP Memory: Memory region inside every principal meeting, which can be gotten to by programs utilizing the EXPORT and IMPORT proclamations and which stays accessible utilizing a progression of program calls (call succession).

Q18. What Is The Full Form Of Sox In Accounts?
Sarbanes Oxley Act.

Q19. What Is The Difference Between Billable And Non-billable Expenses?
Billable costs are the costs brought about by you for your client in performing obligations/administration and supply. These costs are recoverable from your client via charging.

Non-billable costs are the costs brought about by you for complete your own business/obligations and obligations.

Q20. Might You at any point Give A Sample Process Flow For Procure To Pay Cycle?
Step1: Receipt of Invoice and merchandise
Step2: QC endorsement
Step3: Verification with po terms
Step4: making of obligation
Step5: installment after due date.
Q21. What Are The Types Of Assets?
There are two kinds of resources they are fixed resources and current resources.

Q22. What Is Three Way Matching Of Invoice? What Is The Difference Po Able Invoice And Non Po Able Invoice?
PO costs are paid for the center business exercises. e.g a food fabricating co. will pay its standard charges for Raw material cargo, plant support and so on.
A non PO consumption is the one which is installment for its non center exercises e.g installment of service bills e.g phone charges, power bill.
for normal footings of center business foothold a PO is made for example Buy order# is made and non PO is for non center exercises.
Q23. What Do You Mean By Wcc?
Winter Compensation from Contributions.

Q24. What Do You Understand By Intercompany Settlement?
A vital practical area of SAP for Utilities that supports cross-organization trade of settlement information in light of global principles like EDI, XML, and Microsoft Excel.
Intercompany information trade oversees information trfer between retailers, wholesalers, and autonomous help administrators with unique respect to the necessities in liberated markets.

Q25. What Is An Ifa?
Organization of Finance and Accounts.

Q26. What Is The Difference Between Consignor And Consignee?
Agent is the individual who is the proprietor of the products and who take care of business for the representative.

Representative is the individual who gets the products and he simply has the merchandise and not the proprietor.

Q27. What Is Account Payable? How We Pass The Entries In Account Payable?
Creditor liability is the remarkable equilibrium that we should pay to the outsider or providers.
We pass the sections in creditor liability from different sides: buy request and general record.

Buy request module will be posted after material request has been shown up in distribution center and consolidating with receipt in addition to related reports that have been endorsed by approved individual.
General record regularly from administration passage where it should be connected by administration understanding among organization and outsider.
Q28. What Steps Would You Take Before Making A Payment?
We ought to confirm that any advances have been made.
See that every one of the administrations/products conveyed by bill.
Any question is there to go to on that at last can be made installment.
Q29. What Is Debit And Credit From The Banks Point Of View ?
In Banks perspective charge me you have stored cash in the bank . also, credit me you have pull out cash from the banks.

Q30. What Are Steps To Define Supplier?
Provider ought to follow the really take a look at list.

He ought to make trust in the client mind
Administrations to be finished (satisfied in time)
Administrations to be finished agreeing the particular of the client.
He ought to be submitted the one more request by doing the over three stages.