Accounts Receivables Interview Questions

7/1/2015
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Accounts Receivables Interview Questions

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APR
12
2007
01:28 PM
20240
Views
11
Ans
Best Answered
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What are the three golden rules of

accounts
sumedh
Nominal,personal,real
iti bali
Jun 18th, 2015
There is three types of accounts and three types of

separate rules for these accounts. First one is
debit all expenses and losses and credit all
incomes and gains for nominal account.second
one is deb...
Hiral Desai
Mar 10th, 2015
Real: Debit what comes in, Credit what goes out

Personal: Debit the receiver, Credit the giver
Nominal: Debit all expenses/losses, Credit all
incomes/gains
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Answer Question
1/20
7/1/2015
JUL
27
2011
02:24 AM
4807
Views
6
Ans
Remedy for Stale cheque

rahul khandare
One cheque was issued and not cashed before six months
from the date of issued due to the request made. now the
limit of six month is over.in such case what is the remedy?
PRADEEP KUAMR GIRI
Jun 6th, 2015
We can take back the old cheque from client and

upon client request we can issue new cheque or
pay by cash.
Note: Before issuing new cheque or making
payment by cash we need to first read the
Payment Terms & Condition.
SAI RAMESH
May 31st, 2015
Place stop cheque and credit customer account

and debit bank (GL)
Select Best Answer
NOV
14
2014
09:06 AM
Answer Question
Accounts Receivables process cycle

Adarsh.H.S
Hi,
I want details about Accounts Receivables process
cycle(From starting to end) ,Journal entries used in
Accounts Receivables,& SAP T-Codes of Accounts
Receivables
2518
Views
1
Ans
2/20
7/1/2015
madhava
May 21st, 2015
AR Process: Get the PO from the customer>Create sales order with customer no, material no,
quantity, rate, delivery term, payment terms etc..,
Entries are..
To create sales invoice (tr.code F-22)
customer a/c Dr
To sales a/c
for Incoming payment (F-28)
Bank a/c Dr
To Customer a/c
Select Best Answer
Answer Question
MAR
02
2015
What is the difference between

unearned revenue and unbilled
receivables?
SATHISH
05:48 AM
What is the difference between unearned revenue and

unbilled receivables?
kirti
2158
Views
1
Ans
Apr 11th, 2015
Unearned revenue refers to amounts received

prior to being earned.
Unrecorded revenue with revenues that were
earned, but not yet recorded in a company's
accounting records
Select Best Answer
JAN
30
2015
Answer Question
What is the Accounts Receivables

process cycle(From starting to end)
in BPO ?
SAGAR VAISH
3/20
7/1/2015
06:29 AM
3128
Views
Ganesh
Feb 6th, 2015
Review of the product ->quotation->order to

goods ->create the sales order->delivery the
goods -> create the invoice Bill -> order to cash ->
1
Ans
SEP
28
2012
01:06 PM
13288
Views
7
Ans
Select Best Answer
Answer Question
Journal entries
barbett
What is the journal entry process from the time of

generating an invoice to receiving payment?
Rahul Dhar
Jan 16th, 2015
Sale on credit
Receivables A/c... Dr
Sales A/c... Cr
When Payment made
Bank A/c.. Dr
Receivables A/c.. Cr
bhushan adhave
Nov 1st, 2014
At the time of sale on credit the following entry will

be posted
Respective Part A/c... Dr
To Sales A/c... Cr
At the time of receiving payment
Cash/Bank A/c.. Dr
To Respective A/c.. Cr
Select Best Answer
OCT
14
2012
Answer Question
Credit Memo
ajith kumar s
Can Credit memo be imported and applied to the

transactions via Auto invoice
4/20
7/1/2015
03:16 PM
Rahul Dhar
Jan 16th, 2015
4061
Views
3
Ans
Credit note is a document issued by the seller to

the buyer for any sales return due to any billing
discrepancy, quality issue etc.
Sanjay Kumar
Nov 8th, 2014
If you have already sent an invoice to a buyer but

now need to provide a credit for that invoice, you
would send them a credit note or credit memo.
Select Best Answer
JUL
17
2011
09:15 AM
Answer Question
Bank Reconciliation Statement

Naveen Chinna
Why do companies prepare Bank Reconciliation

Statement? what is the use of it?
Meer Tasleem Arief
Jan 10th, 2015
9518
Views
6
Ans
Bank Reconciliation statement is the difference

between the cash book balance & bank Book
Balance are found out and Adjusted are done on
it.
ANKUR ARORA
May 15th, 2014
Asset created by an accounting entry (and

included under assets in the balance sheet) that
has no tangible existence or realizable value but
represents actual cash expenditure. The purpose
of creating...
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OCT
Answer Question
What are examples of deferred
5/20
7/1/2015
25
2007
03:54 PM
19297
Views
7
Ans
revenue expenditure?
swagatika mohanty
bhushan adhave
Nov 1st, 2014
Deferred revenue is a liability because it refers to

revenue that has not yet been earned, but
represents products or services that are owed to
the customer. It is an advance payment received
for delivering service or product.
Netrajit Abujam
Jul 26th, 2013
Q. 1. white washing of the factory building at the

cost of Rs.5,000/2. Paper purchased for used in the office as
Stationery amount to Rs.1500/3. Commission paid to the broker in regard to
purchase of land amounted to Rs.3,000/4. Replace of the wooden floor by tiles in your
office.
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MAR
31
Answer Question
How important is Accounts

receivable to business?
nancyphilips
2007
J Ravi Chandran
12:27 AM
2864
Views
1
Ans
Oct 12th, 2014
Receivable is nothing but our cash.

Receivable (with time limit) which shows the
growth of the business
It improves our business
It plays major role while going for credit facility
with the bankers.
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Answer Question
6/20
7/1/2015
MAR
31
2007
12:28 AM
1856
Views
Good Accounts receivable Softwares

christia
What are the powerful softwares that could be used for

doing efficient Accounts receivable?
J Ravi Chandran
Oct 12th, 2014
It depends upon the business & Commonly Tally

being used in all business
Select Best Answer
1
Ans
NOV
08
2007
08:42 PM
4893
Views
2
Ans
Answer Question
Back end collections and front end

collections
Sarah
What is the difference between back end collections and

front end collections?
cyndy
Jun 23rd, 2014
Front end collection is being proactive. Know what

your customers AP dept needs to process
payment quickly. Back end collections is calling for
payment, letters, 2nd or 3rd invoices sent because
customers AP needs were not known or
communicated to your dept before order/invoices
processed.
srinivareddy.sama
Nov 24th, 2012
Back end collections means like commission on

sales or commission on providing services
front end collections means like sales and
providing services
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Answer Question
7/20
7/1/2015
NOV
17
2005
06:19 AM
12376
Views
21
Ans
What is reconciliation?
venkata r vanaparthi
SATISH M
Jun 11th, 2014
To reconcile the difference between bank balance

shown by cash book and pass book.
A.KIRAN KUMAR
Dec 7th, 2012
BRS is a find out the uncommon adjustments of

cashbook and pass book.
Select Best Answer
JUN
11
2010
12:26 AM
Answer Question
Refund Deposit Amount

sudhamba44
You raised a deposit type of transaction to a customer,

and received a receipt fully also.Later you raised a
standard type of invoice, and adjusted deposited partially
towards this std. invoice by using commitment Tab. If
Customer is asking for refund of remaining amount. How
will you refund the balance amount?
4003
Views
3
Ans
8/20
7/1/2015
Ajit Mishra
Nov 18th, 2013
Q. No. 1 ) What is different between cost account

& bank reconciliation statements ?
Thanks & Regards
Ajit Mishra
kirubakaran G
Sep 20th, 2011
If AR update process has been not done and apply

Payment has been not done for the Customer you
can adjust the Amount in AR itself. Else if the AR
update process has been not done and apply
Payment h...
Select Best Answer
OCT
14
2012
03:13 PM
2282
Views
Answer Question
Auto Invoice
ajith kumar s
What are the parameters of the Auto-Invoice Program?

aruna vishnubhotla
Oct 17th, 2013
The batch source name, date, operating unit name
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Answer Question
1
Ans
MAR
31
Accounts Receivable goals

StephenRaj
What are the goals of Accounts receivable?
2007
9/20
7/1/2015
12:37 AM
9930
Views
4
Ans
Thomas Oduor
Jul 30th, 2013
Accounts Receivable is that part of sales made on

credit. Credit sales facilitate sales because as it
gives buyers, especially new businesses or firms
with temporary liquidity crunch, time to obtain g...
seenu_palla
Jan 11th, 2009
Speedy recovery of cash from the customer to

manage the working capital.
Select Best Answer
MAY
31
2011
06:42 AM
Answer Question
Cash Applications
animeshhappy
What are the steps involved in Cash Application & When is

Cash Application comes into picture?
Gopal
Nov 26th, 2012
5498
Views
2
Ans
As far as I understand cash application is nothing

but cash allocation. when we receive the amount
from customers on the invoices which are due
from them we do cash allocation (meaning we
clear the paid invoices from our system). it comes
into picture when we receive cash from
customers.
nadeem
Jul 29th, 2011
Managing customers payment exceptions.
Select Best Answer
OCT
Answer Question
What is your process in adjusting the

amount of advance already received
10/20
7/1/2015
13
2012
against an invoice?
shellywade
Mahesh Babu, PS
05:20 PM
5060
Views
1
Ans
OCT
13
2012
Oct 20th, 2012
Amount or income already received in advance will

be construed as deferred revenue and entries are
as follows: 1) When receipt of advance: Bank A/c
Dr To Unearned revenue A/c 2)...
Select Best Answer
Answer Question
Describe a challenging problem you

faced as an AR Manager and how did
you solve the problem?
shellywade
05:41 PM
Answer Question
2300
Views
0
Ans
MAY
31
2011
Credit Management
animeshhappy
What do you mean by Credit Management under AR in

Professional field?
06:43 AM
4106
Views
2
Ans
11/20
7/1/2015
farfoosha
Oct 1st, 2012
The objective of managing accounts receivable is

to have both the optimal amount of receivables
outstanding and the optimal amount of bad debts.
a. This balance requires a trade-off between the
benefi...
Raghu
Jul 19th, 2011
Credit Management is the process of managing

the outstanding receivables of the organistion as
per the policies adopted by the organisation.
Companies might the approach of categorising the
B/R by the...
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Describe a challenging problem you faced as

an AR manager and how did you solve the
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Asked by: shellywade
Credit memo not carrying service tax AR

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What are the three golden rules of