HR Questions

Question 1 :- Introduce yourself, breif yourself, Walk me through your resume, Go through
your resume, I am interested to know about you, your qualification, Education, experience
etc.

Answer:-

Name:- Hi , I am Rahul

Live:- I stay in Faridabad at Sector 11

Qualification:- I Completed my graduation from MD University

Experience:- I have a total experience of 2 Years

Currently i am working with ABC ltd As an accounts Executive (desigantion)

& my

Job Responsibilities:- responsibilities are:-

IT Skills:- I am working on SAP & have good knowledge excel.

Family Background:- So far as my family background in concerned,

My father is a buinessman & my mother is a house wife,

I have one brother & one Sister.

Strength:- POsitivity, Willing to learn new things, Punchuality, Discipline

are some of the trait of my personality.

That is all about me

Thanks

Question 2:- Why are you looking for a Job Change?

Answer:- For the sake better Opportunity & skill development, I am looking for

a Job Change.

OR

For the sake better opportunity & enhancing my area of domain (Profile),

i am looking for a Job Change

Or

For Personal & Professional Development, i am looking for a Job Change.

Question 3:- Where do you see yourself after 5 Years?

Answer:- After 5 years, I will see myself as an AM or TL in this organization

OR

After 5 years, I will see myself as TL with important Profile.

Question 4:- What skills Will your reach to be manager?

Answer:- My decision making ablity, positive attaitude & learning attitute will

reaches me there.

Question 5:-how will you rate yourself out of 10 in Excel.

Answer:- 7.5 to 8 as excel is very wide to cover it.

Question 6:- How comfortable you are on Excel?

Answer:- I am very much comfortable in excel as i am working on basic operations to

advanced including sumif, vlookup & pivot tables.

Question 7:- What is Sumif?

Answer:- Sumif is used to add all the number in a range of cell based on' Creteria.

=sumif(range,creteria,sumrange)
Question 8:- What is Vlookup?

Answer:- Vlookup is used to retrive the data from a range of cells based on column no.

=vlookup(lookup value, range, column No, 0)

Question 9:- What is pivot table?

Answer:- Pivot table is used to sort, summarize & make the data presentable.

Alt N V T

Question:- 10 What is your Short term goal?

Answer:- My short term goal is to get this job & to accomdate/adjust

myself in new environment.

Question :-11 What is your long term goal?

Answer:- My long term goal is to prove myself as an assets of the

company by implementiong the things that i learnt from my

previous experiences.

Question 12:- What is your current CTC (Cost to Company)/Salary?

Answer:- 2.8 lakh per annum==2.8=22500 per Month

Question 13:- Is this a fixed salary or is there any variable part involved in it?

Answer:-Its all fixed.

Question 14:- Do you get your salary in Bank or in Hand?

Answer:- In Bank
Question 15:- Do you have the pay slips & appointment Letter with you?

Answer:- Yes I have

3 Monthly Salary Slip

Appointment Letter

Experience Letter

Question 16:- What is your expectations?

Answer:-3.6 to 3.9 lakh per annum

Question 17:- Is it negotiable?

Answer:- Yes it is

Question 18:- What is your notice Period?

Answer:- Its 15 Days

Question 19:- Is it negotiable?

Answer:- Yes it is

Yes it is, I will try to Join you soon

Question 20:- Are your ready to work in US Shift?

Answer:- Yes i am comfortable

Shift:- UK:- 12PM to 9 PM

US:- 5;30 to 2:30 AM

Aus:- 4 AM to 1 PM
Question 21:- Did you ever try in genpact before?

Answer:- No

Question 22:- What is your weakness?

Answer:-

1. I cant say NO to anybody/any work:- but at the same it hampers

my work as well.

2. I can do 2 work simtenously:- but sometimes it affects my accrucy.

Question 23:- How much is your total experience?

Answer:- I have a total experience of 2 Years

Question 24:- How much is your relevant experience?

Answers:- Same 2 Years

Question 25:- Is there any deduction from your salry?

Answer:- No its all fixed (No PF Deduction)

Question 26:- Why should i hire you?

Answer:- With reference to my job Profile I satify all the requirement for this job.

I have a 2 experience in AR that is the key requirement for this Job

My Excel Expertise make me differnent from other

& being a young one i can accomdate in any shift & stretch

as per the process requirement.

Question 27:- Why do you want to Join Accenture/Genpact?

Answer:- Its a well know brand & provides great ameneties & environment

to its employess. It will be a previliage for me to work with such a

brand as everyone want to be a part of it.

Question 28:- You are having a BA degree so why are you in AR/O2c Profile?

Answer:- When i Completed BA or BSC then i got the opportunity to start

my career in O2C profile. So i worked on different activities like

Creation of Bill, Checking Sales Order, Allocation of payment, generates

report etc. But i didn't find any chllange to learn all these things. SO

that is not a big deal to work in such profile as a BA or BSC background as

every organization need graduates & having hand hold on such activites as i

have.

Question 29:- You are greaduted in 2022 & you have having an experince of 2

years. how is it possible?

Answer:-

1) My college was non attending so i started my career during my graduation so

i am having a 2 years of experience.

2) So started my career in 2nd years as we have a online class due to covid.

Technical Questions- Billing

Question No 25:- What is Sales Order?

Answer: It is an agreement between seller & buyer & it is created by seller.

It Contains

Required Quantity

Agreed Price

Details of Customer

Description of Goods

Payment Terms

Delivery date

Place of delivery

etc

Question No 26:- Who creates the Sales Order?

Answer:- SO is created by Seller means the Sales Team.

Question 27:- What is purchase order?

Answer: It is an agreement between buyer & Seller & it is created by Buyer.

It Contains

Required Quantity

Agreed Price

Details of Vendor

Description of Goods

Payment Terms

etc

Question 28:- Who creates the Purchase Order?

Answer:- Buyer Creates the Purchase Order means the purchase Team

VA01:- Sales Order

ME21N:- purchase Order

First PO is created & on the basis of that we have to create the SO.

Question 29:- What is the difference between SO & PO?

Answer:- SO is created by Seller by the use of VA01 & PO is created by the

buyer by the use of ME21N

Question No 30:- What is payment terms?

Answer:- Payment terms means the terms between seller & buyer for
receiving

the payment. It could be immediate, 30 days or 45 days depends on

Customer

to customer.

Question 31:- What is the payment terms in your organization?

Answer:- Normally we have a payment terms of 30 days after that the invoice

get overdue.

Question 32:- What is due, undue and overdue invoice & past due invoice?

Answer:- Due Invoice means the payment has to be received now.

Undue means the invoice which is not due for payment.

Overdue Invoice means the invoice in which the due date is over and

now it is overdue for payment & company has yet to receive the payment.

Past due Invoice means the invoice in which the payment is made

after due date.

Question 33:- What is the Journal Entry at the time of Billing?

Answer:- Customer Account Dr

To Sales

Question 34:- What is the Journal Entry when customer returns material?

Answer:- Sales Return/Inventory Account Dr

To Customer Account

Question 35:- What is the Journal Entry at the time of Issuing goods?

Answer:- Cost of Goods Sold Account Dr

To Inventory Account

Question 36:- We have sold goods to customer of rs 50,000 with the

payment

terms of 30 days. We will give you the discount 2% if payment made with in

15 days & Customer made the payment on 14th day. what does it indicate?

Answer:- It means that we have to give discount of rs 1000 to the customer

as the customer has made the payment in 14 days.

Customer Account Dr 50,000

 To Sales 50,000

Bank Account Dr 49000

Discount Allowed Account Dr 1000

To Customer Account 50000

Question 37:- What is the ratio of the billing to Cash Application?

Answer:- Its 20: 80, 20 for Billing & 80 for Cash App.

Question 38:- What is the process of billing in your current Organization?

Answer:- First, the sales order is generated by the sales team mentioning

the Description of goods, Quantity, rate etc and save it.

On the basis of SO created, the order management team release the order &

Share the document no with us.

On the basis of document no shared by the order management team via

email we

have to genertae the invoice by VF01 & here the accounting entry is created

customer Account Dr

To Sales
Question 39:- What parameter you need to check before generating any
invoice.

Answer:- Before generting any invoice we need to check the 2 way match. It

measn the price & quantity that are coming in the VF01 should be match with

the Sales Order & we also need to check the same with the order released

by the order management team. If there is any mismatch we need to

approach

to the concerned Team (Sales Team or the order mangement team) & ask
them

to provide the justification.

Question 40:- On which T Codes you are currently working On?

Answer:- VA03, VF01, VF02, VF03, F-28, F-26, F-32, FBL5N, FB50,

FB08, FBRA & FBL3N

Question 41:-What are the challanges you face while generating the invoice?

Answer:- We face a number of challanges while generating the invoice like

sometimes the details in VF01 doesn't match with the SO like the Quantity

or the price then we need to apprach to the concerened team for clarification

Question 42:- You have generated the bill & by mistake it was incorrect & the
material has already been delivered , In that case what should you do?

Answer:- As we generate the invoice as per the sales order, If it is incorrect

then the sales Team will revoke the material & credit Note will be issued

against the said Invoice by FB75.

Question 43:- You generate the Service invoice or Material Invoice?

Answer:- Both-FB70, Service Invoice, Material Relase-Invoice Genrate

Question 44:- What is the T Code to create Credit Note?

Answer:-FB75 is the T code for generating the credit Note.

Question 45:- What is customer Master Data Management?

Answer: In CMD, we have to create the customer via XD01 as per the

request received from the Sales Team.

Xd01:- Create

Xd02:- Modify

Xd03:- Display
Question 46:- How do you change the customer details in Sap?

Answer:- Xd02 is the T code to change the customer details in SAP.

Question 47:- Does Billing is a part of AR?

Answer:- Yes, Once we generate the invoice it become a part of AR.

Question 48:- What is payment method?

Answer:- Payment method is the way of receiving the payment. It could be

EFT

(Electronic Fund Transfer) or Cheque.

Question 49:- What is the payment method in your current organization?

Answer:- In our organization, customer makes the payment via EFT

(Bank Transfer) & also deposit cheque.

Question 50:- What is credit limit in case of Customer?

Answer:- Credit Limit means the maximum amount of credit given to the

customer. Organization doesn't release its order if credit limit exhausted.

Question 51:- What are the functions of Billing?

Answer:- To generate the Billing or the Invoice

To Check the Sales Order

To do the 2 Way Match & 3 Way Match

To Send the Invoice to the customer via Email.

Question 52:-Customer has send the invoice back, what could be the reason

for this.

Answer:- Wrong Tax details

Description of Goods

Qty & Price Mismatch

Incorrect Billing or Shipping details.

Question 53:- What is Bill to address, Ship to Address, Sold to address &
payer?

Answer:-Bill to adreess:- Where invoice need to sent

Ship to adreess:- Where material need to deliver

Sold to party:- who makes the order

Payer:- Who makes the payment.

Technical Questions- Cash Application

Question 52:- What is AR?

Answer:- Is the money that a company has a right to receive because it

had provided goods & services to its customer.

Question 53:- What is the another name of AR?

Answer:-O2C:- Order to Cash

Question 54:- What is O2C Cycle?

Answer:- O2C Cycle starts with generating the sales order, then we have to

check the availablity of the product & credit limit of the customer & the

order management team relaese the order & the billing team generate the

invoice with the help of T code VF01 & pass the accounting entry

Customer Account Dr

To Sales Account

Then Cash application team allocate the payment receive from customer.

Payment Could applied, unapplied or unidentified. Then we have to reconcile

the customer account & report to the manegement.

Question 55:- What is the difference between O2C & AR?

Answer:-O2C is cycle & AR is a part of it.

Question 56:- From where our work, starts in O2C Cycle?

Answer:- Our Work Stats from Billing

Question 57:- How many department are involved in O2C Cycle?

Anwer:-

1. Sales Team:- Order Generate, Availablity Check, Credit Limit Check

2. Order Management Team:- Order release, PAck, get it deivered

3. Billing Team:- Generate the Bill/Invoice

4. Cash Application:- Allocate the payment received from customer

5. Collection:- When Invoice Get over due, then collection comes into picture

6. Dispute Management:-Resolve the issue with the customer & the supplier
Question 58:- What is Cash Application?

Answer:- Cash application is a part of AR. In Cash application

we allocate the incoming payment receive from customer to the correct

customer account with recivable entry after checking the remittance.

In cash application, we download the bank statement from the bank portal.

for this we login to the bank , Select the period & export it in Excel &

start allocating the payment.

Question 59:- What are the activities covered under Cash Application?

Cash Allocation

Customer Clearing

Customer Statement

Customer Reconciliation

Customer Ageing Report

Question 60:- What is Cash Allocation?

Cash Allocation is a part of Cash Application.

Answer:- The prime resposibility of a AR team is to allocate the

fund in the correct customer accounts. If there is any mismatch then

we put the transaction as "ON Account" & this on Account tranaction is

called unapplied credit & it will be shown in the open item of the

customer account.

Question 61:- What is Applied Credit?

Answer:-When the incoming payment received from customer is matched

with the

remittance then it is called Applied CRedit.

Question 62:- What is unallocated credit?

Answer:- means when we receive the payment from the customer but it is

yet to be allocated. It means fund lying in the bank not posted anywhere.

Question 63:- What is unapplied Credit?

Answer:- When the incoming payment received from customer

doesnt match with the recivable entry or due to unavailablity of the

remittance then we put the transaction as "On Account"

& this on Account transaction is called unapplied credit.

& It will be shown in the open items of the customer Ledger.

Now the next is to approach the customer via mail

ask him to share the payment remittance.

Once we receive the remittance then we clear the

customer Account by F-32.

Question 64:- For example you have recived a payment of

9800 from ABC customer but the customer didnt provide the remittance

& you put the transaction as unapplied credit, later on

the customer has shared the remittance & you are going to applied it.

What Journal entry is created in this case?

Answer:- No journal entry is created as journal entry has alredy been

created at the time of allocation of fund (F-28).

Question 65:- How many transaction that you receive in your bank on

regular basis?

Answer:- 80 to 90 transaction per day.

Question 66:- What is ratio of applied & unapplied credit?

Answer:- 80:20, 80 for applied & 20 for unapplied.

Question 67:- What is the SLA to clear the customer Account?

(service Level Agreement, TAT- Turn around time).

Whirlpool------Sap Cubix (SLA)

Answer:- 48 hours

Question 68:- What is SLA? (service Level Agreement)

Answer:- It is an agreement between the Company & the Client to perform

the

task on the specfied time.

Question 69:- What if the SLA get breach?

Answer:-If the SLA get breach then in that case you need to give

the justification to the Team leader why SLA got breached.

Frequent breaching of SLA could impact the individual performance

as well as the company's performance.

Question:- What is the SLA to generate the Billing?

Answer :- 4 to 6 Hours

Question 70:- How many ways do we get the payment from customer?
Answer:- EFT (electronic Fund Tranfer)

WIRE Payment:-EFT, BT, ACH (Automatic Clearing House)

Cheque Issue

Question 71:- How do you come to know whether its a EFT or the Cheque
Deposit?

Answer:- It is mentioned in the bank statement like of it is a EFT

then its written as Direct Credit & Cheque deposit in case if anyone

deposit the cheque.

Question 72:- What is the difference between Wire & EFT

(Electrnic Fund trasfer)

EFT comes under Wire Payment. Wire payment is a bigger terms.

It includes, BT, EFT & ACH.

Hard Copy:- Cheque

Question 73:-What is your Job Responsibilities?

Answer:- Working on Cash Application

 Allocation of Fund received from customer

Working on unapplied & unidentifed transaction

Clear customer Account

Customer Statement

Customer Reconciliation

Month End Activities

Prepare MIS Reporting

MIS:- Management Information System (Excel)..Any report prepared to

provide the information to the management or to the stake holders

(customer & Vendor) like Customer Statement, Customer Ageing report.

Question 74:- What is your KPIS? (Key Performance Indicator)

Answer:-My KPIS are to allocate the payment correctly

To apply the fund as per SLA

To ensure that fund should be apply as per Remittance

I also ensure that none of the SLA get breach.

Question 75:- What is payment Remittance/advise?

Payment remittance is payment information provided by customer

containing the amount paid, date of payment, Bank Name,

Bank Account No, Customer Name, mode of payment etc.

Normally it is in PDF form which is provide by customer over mail.

Question 76:- How do you receicve the remittance?

Answer:- Via Mail

Question 77:- Apart from cash allocation what other

activity that you are performing in your current organization?

Answer:- Apart from cash allocation, i also prepare the

customer statement, customer reconciliation & customer clearing &

also participate in Month End Activities.

Question 78:- What kind of activities that you participate at Month End?

Answer:- I participate in various activities at month End like

to prepare the customer statement, customer reconciliation,

prepare ageing report & also clear the customer account.

Q0uestion 79:- on which ERP(Tally, SAP, Orcal) you are currently working on?

Answer:- I am working on SAP (Module FI/Co)

Question 80:- On which T code are you working on?

Answer:- F-28, F-32, FBL5N, FB50, FB08, FBRA, FBL3N, F-26, FB75, VA01,

VA03 etc.

Question 81:- What is the process to allocate the payment by F-28?

Answer: First, i have to go F-28 i.e Post incoming payments,

then we fill the required fields like Bank Account No, Amount,

Customer Code, Reference, Narration & Enter it,

a new window is open in which we have to assign the

recivable Entry with the payment entry as per remittance & save it.

Question 82:- What are the challanges while allocating the payment?

Answer:- While allocating the payment, somtimes we have not

received the remittance copy in that case we need to approach to the

customer ask him to share the remittance.

Sometimes the Inv No in the remittance doesnt with the Open Items

in that case we need to approach the customer & ask them to share the

correct remittance.

Sometimes there is a issue of Dr Note & Credit Note.

Question 83:- What is the T Code to generate the Credit Memo/Note?

Answer:- FB75

Question 84:- Which geography are you taking care off?

Answer:- I am taking care of Asia Customer. (10 to 6) Inr

US:- 5:30 Pm to 2:30 AM

Aus:- 4:00 AM to 12:00 PM

UK:- 12:00 to 9 PM

Question 85:- Is your customer is domestic one or a Global One?

Answer:- Both

Question 86:- How many are your account heads do you have? (Customer)
Answer:- Approx 900 to 1200 Customer.

Question 86:-What is your daily routine?

Indian 10 to 6

UK Shift 12 to 9

My day Starts at 10 AM in Morning, First i download the bank statement

from the bank portal & start allocating the payment by F-28/F-26.

I allocate approx 80 to 90 per day & it take around 4 to 5 Hours.

After that i follow up with the custmer regarding the payment remttance &

clear the customer Account. I also prepare the customer statement

& reconciliation as & when required.

Question 87:- Are you working from home or office?

Answer:- I am working from home.

Question 88:- You get the remittance on mail or recived the hard copy?

Answer:- i receive the payment remittance on mail.

Question 89:- You have put the fund in unapplied credit, Now you are chasing

the customer for payment remittance but customer is not responding &

the SLA is going to breach. What would you do in that case.

Answer:- If customer is not responding then we apply the fund on FIFO basis

& intimate the customer over mail regarding the same.

Inv No 1 3000

Inv No 2 3000

Inv No 3 3000

Inv No 4 3000

--------------

Total 12000

6000:- No Remittance:- Adjust FIFO

Question 90:- What is your acheivement?

Answer:- I) I reduced the rate of unapplied credit from 25% to 12%.

I followup with the customer over mails or calls, get the remittance

& clear the customer account.

II) During my tenure i never breach my SLA.

III) I allocate the payment recived on timely basis without any fail.

IV) I clear the back lock of the pending allocation when my calleauge left

the organization. So i stretched & allocate the fund.

Question 91:- How do you prepare the ageing report?

Answer:- First i have to go FBL5N, Select all the customer,

i click on the open item & get the data & export it in Excel.

Then i apply the formalua & prepare the report & send it my manager.

Question 92:- What is Direct Debit?

Answer:-Direct Debit is an instruction from you to your bank authorising

someone to collect payment from your account when they are due.

Question 93:- Do you have any template while sending the mail to

customer?

Answer: Yes, we use standard template while sending the mail to Customers.
Answer:- Dear Sir/Maa'm,

We have received the payment of Rs 10,125 date 16 Jun 2021,

in our ICICI Bank Account No 300122556

agint Payment reference No NEFT1234.

Could you pls share the payment advise againt the said payment.

Thank You

Question 94:- What is unidentied Fund/Cash?

Unidentied fund means when we receive the payment but

we dont know who makes us the

payment, in that case we put the fund as Suspense Account &

pass the accounting entry by using T Code FB50

Bank Account Dr

To Suspense Account.

The next step is to approach the Bank & ask them to

share the customer details,

Once we receive the customer details then we pass the accounting entry

Bank Account Dr

To Customer Account

and reverse the previous entry of Suspense account by FB08

Suspense Account Dr

To BAnk Account.

When the bank confirm the details of customer, we also need to check the

remittance if we have then we clear it & if we dont have the we put it On

Account

Question 95:- You have been chasing with the bank for customer details but
the

bank has not been responding to you regarding the request. So what would

you do in this case.

Answer:- In this case, we need to check the remittance of the amount

received of near by date & if we get the remittance of the same amount

then we cross verify the same with the customer & allocate the payment

accordingly.
Question 96:- What is unallocated Credit?

The fund which is yet to be allocated in accounting System & lying

in the bank.

Question 97:- What is the difference between unapplied & unidentified fund?
(M Imp)

Answer:- When the incoming payment received from customer

doesnt match with the recivable entry

due to unavailablity of the remittance then we put the transaction

as On Account

& this on Account transaction is called unapplied credit.

& It will be shown in the open items of the customer Ledger.

Now the next is to approach the customer via mail or call & ask him to share
the payment remittance.

Once we receive the remittance then we clear the customer Account by F-32.

Unidentied fund means when we receive the payment but we dont know

who makes us the

payment, in that case we put the fund as Suspense Account &

pass the accounting entry by using T Code FB50

Bank Account Dr

To Suspense Account.

The next step is to approach the Bank & ask them to share the customer
details,

Once we receive the customer details then we pass the accounting entry

Bank Account Dr

To Customer Account

and reverse the previous entry of Suspense account by FB08

Suspense Account Dr

To BAnk Account.

Question 98:- What is the difference between cash application &

cash allocation?

Cash allocation is a part of Cash Application. In Cash App,

it coveres, Cash allocation, Applied & unapplied CRedit, Customer clearing

Customer Statement & reconciliation while in cash allocation

we just allocating the fund received from customer.

Question 99:- How frequently do you approach to customer?

Answer:- Very freuently, every alternate day, we approach to customer

on emails for payment remittance.

Question 100:- What is your shift timings?

I am into Indian Shift so my timings :-10 to 6

------------------------------------------------------------------------------

Question 101:- For example you have received a payment of 3200

againt the receivable of 3203 so what is the journal entry in this case?

Answer:- This is the case of Short & Excess & the entry would be

Bank Dr 3200

Sh & Ex 3

To Customer Account 3203

Question 102:- What is the objective to allocate the fund or

clear the Fund in SAP or System?

Answer:- Because it gives us the clear picture about the customer,

how much we have to recover & how much we have receovered.

Apart from that it also clears the account of the customer.

Question 103:- What is Customer Statement?

Answer: is a statement That we need to provide to customer for a

particular period. So that customer matches his books with the

statement provided.

Question 104:- How do we prepare the customer Statement?

Answer:- First, we go to FBL5N, Enter the fileds like Customer Code,

Company Code then go to all item select the respective

periord & Execute it.

We select the layout as per our requirement & Export it

(List----Export---Spreadsheet).& mail it to the customer

Outlook:- It is used for professional mail in companies

Question 105:- When do you prepare the customer statement?

Answer:- We prepare the customer statement on monthly basis

but sometimes customer ask for the statement in between of a month

so we have to provide it accordingly.

Question 106:- What is Layout & how do we make it?

Answer:- Layout contains standard Fields that we require it while

preparing the statement.

If we need some extra field then we can click on the change layout button.

A pop will come, containing Line 1 & Hidden field option.

we drag the filed to Line 1 as per the requirement & Copy it.

Question 107:- What data that we need to provide to the customer?

Answer:- We need to provide the data like Invoice No, Invoice Date, Amount,

Remarks to the customer Statement.

Question 108:- What is the objective to prepare the customer statement?

Answer:- The objective is to match both the books of the buyer as well as the
Seller

& avoid any discrepancies.

Question 109:- What is Customer Reconciliation?

Answer:- Is the process of Matching the closing balance of the customer

statement provided by customer with the closing balalnce

of SAP customer Ledger. If there is any mismatch then we have to

prepare the reconciliation statement.

Customer Sends us the statement for a particular period that we need to

match with the SAP Ledger. I go to FBL5N, Select the customer, Co Code &

select the respective perioed & Execute & Export it.

Now we have two reports one is Customer statement provided by customer

& another is SAP Customer Statement. We have to match it with the help of

vlookup & highlight the mismatch.

Question 110:- What are the reason for Preparing the Customer
Reconciliation?

Sometimes the Sales invoice & the purchase invoices don't match with the

customer Statement.

Sometimes the payment received & the payment released dont match.

Sometimes the Debit & the CRedit Note Do not match

Question 111:- What is customer ageing report?

Customer ageing report that represents the age of the open invoice or

the billing invoices whose accounts are Over due beause the collection

team has to take the action on the over due invoices.

Question 112:- What is Past due Invoice?

Answer:- Means the invoice in which we have received the payment

after the due date.

Question 113:- What is Payment Terms?

Answer:- is the terms between buyer & seller for receiving or releasing

the payment. It could be immediate, 30 days or 60 days. It depends

upon customer to Customer.

Question 114:- What is the difference between F-28 & F-26?

Answer:- F-28 is used for Incoming Payment while F-26 is used for

Incoming Payment Fast Entry.

In F-28, we have to enter the details like Date, Bank GL, etc again

& again while in F-26, we save the information & Only we have to

Enter the Customer Code & Amount.

F-28 is Time consuming as we have to enter the details again & again

while F-26 Save our time.

Question 115:- Customer Account Showing the Debit/positive Balance What
does

it mean?

Customer Account Dr---Receivable (Postive)

To Sales

Answer:- It means we have to receive the amount from the customer, as

positive transactions related to Debit Entry.

Question 116:- Customer Account Showing the Credit Balance/Negative

Balance What does

it mean?

Bank Accout Dr----------------------40

To Customer (Negative)----------15

Answer:-It means customer has made advance payment/Over/Excess to us.

Question 117:- Customer has made duplicate payment to us?

Answer:- In that case we have two option

1) We can adjust the said payment with the upcoming or Future Invoice.

2) We can refund it to the customer.

The best way is to adjust the fund with the future Invoice

Question 118:- How do you prepare the customer ageing report?

We go to FBL5N, Select all the customer accounts then go to open items and
execute it, We select

the layout as per the requirement & export it in Excel.

Now we have to get the age days & share the report with the management.

Question 119:- What is the bucket of the ageing report?

Answer:-0 to 30 (Undue)

31 to 60 (Over due- Remiender)

Over 60 (Mail inform, Account Would be on Hold)

Question 120:- How many transaction that you receive pertains

to Unidentified?

Answer:- 1 to 2 case per day.

Question 121:- How much of amount that you need to allocate per day &
month?

Answer:- Approx 70 to 80 Lakh Per day & 40 to 50 crore transaction

per month.

Question 122:-You have mistankely wrong applied the amount So what

should

you do?

Answer:- In that case we have two option, If the said fund is applied,

then we can reset it by fbra, once it get reset, it will go in the open item &

we have to reapplied it by F-32. The second option is we reverse the

said entry by fbra & take the fresh entry by F-28 or F-26.

Question 123:- The Invoice you are going to allocate from the remittance

is not available in the Open item, then what would you do?

Inv No 1

Inv No 2

Inv No 3

Inv No 4

Inv No 5
Inv No 6

PAyment:- 20,000 1 & 3

Payment:- 20,000 2 & 4----2 & 5

Payment :- 20,000 1 & 5

Answer:- In Such case, First we need to check the previous allocation

in the cleared item & also check the previous remittance as well.

Sometimes it may happen that customer mention the same Invoice No

in differnet remittance So we find it first & apprach to the

customer for their advice.

Questions 124:- What is Revenue?

Answer:- Revenue is the total amount of income generated by the sale of

goods

and services.

Question 125:- When the sale is complete or when sale is recognized as

revenue?

Answer:- Sale is Complete when we received the cash from the customer.

Revenue may be recognized when significant deposit is received.

Question 126:- How Comfortable are you on Excel?

Answer:- I am very much comfortabel in Excel. I perform the activties from

basic to advance excel opertaion including Vlookup, Sumif, Pivot Tables etc.

Question 127:- How will you rate yourself in Excel out of 10?

Answer:- I will rate myself as 7.5 to 8 as Excel is very wide to cover.

Question 128:- What is Vlookup?

Answer:- Vlookup measn vertical lookup that is used to retrive the data from

a range of cells based on column No. The formula is

=Vlookup(lookup Value, Range, Column No, 0)

Question 129:- What is the drawback of Vlookup?

Answer:- If there is any duplicate values in data then vlookup will pick the

first one rather than second one & gives us the incorrect result.

Question 130:- What is Sumif?

Answer:- Sumif is used to add all the number in a range of cell based on

Creteria. The Formula is

=Sumif(Range, Creteria, Sumrange)

Question 131:- What is Pivot Table?

Answer:- Pivot table is used to sort, summarize & make the data presentable

& the shortcut is Alt N V T

Question 132:- What is Defereed Revenue Expenditure

Answer:- is an expenditure that is incurred in an accounting period

but the benefits is to be derived over the period of time.

For Example:- Advertisement in a Metro

Question 133:- What is Profit?

Answer:- Is the financial gain a business receives when renvenue

surpasses the cost & Expenses.

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Question 134:- How & Why to match the Bank Staement with the ledger?

Payment Reconciliation

Payment No 1 12000 FBL3N

Payment No 2 12000 10004

Payment No 3 14000 VIJF

Payment No 4 11000

Payment No 5 10000 All Item 01.11.2022 to 30.11.2022

Payment No 6 12000 Execute

First, we have to go to FBL3N, selet the bank ledger, Co Code & All item

Excute & Export it. Now the transaction in the bank statement must be

match with the bank ledger. In case of mismatch, we need to identify

the transaction & posted in SAP.

Normally we have to prepare this reconciliation at the end of day.

We have to prepare this to reconcile both the bank statement & the ledger

to avoid any discrepancies.

Question:- What is provision?

Answer:- Provision is the amount that we set aside to cover the future liablity

P&L Account Dr
 To Provision for doubtful debt.

We sold some goods of rs 100000 to ABC Ltd. We have receive Payment of rs

50000 & the balance 50000, i have a doubt to recover it.

ABC Account Dr

To Sales

B/s

Debtors

100000

-50000

-------------

50000

-30000

-20000

---------------------

Bank Account Dr

To Customer Account
P&L Account Dr 50K

To Provision for Doubtful Debt 50K---Liablities

30,000 Recover

20,000 Bad Debts

BAnk Account Dr 30K

To Customer Account 30K

Bad Debts Account DR 20K

To Customer 20K

Reverse the Provision entry

Provision for Doubtful Dr

To P&L Account

We sold goods of rs 10000 to XYZ Ltd, & receiced 5k as payment & Balance

we have to make the provision & later on customer deny to make the
payment

1. XYZ Account Dr 10000

To Sales 10000
2. Bank Account Dr 5000

To XYZ Account 5000

3. P&L Dr 5000

To Provision for Doubtful Debt 5000

4. Bad Debts Account Dr

To Customer

5. Reverse Provision Entry

Question We sold goods of rs 10000 to XYZ & Received payment of 9950 & 50
rs

is deducted by the bank for bank charges

1. Customer Account Dr 10000

To Sales 10000

2. Bank Account Dr 9950

Bank Charges Dr 50

To Customer Account 10000

What is Invoice?

Answer:- Invoice is non negtiable commercial intrument which is issued by

seller

to buyer. It Contains

Inv No

Inv date

Address of Both the parties

Description of Goods

Qty

Amount

Tax Rate

Taxable Amount

Tax Amount

Total Value

etc

Question:-What does Invoice Indicate?

Answer:- It means buyer must pay to seller.

Question:- What is SOp?

Answer:- SOp is the standard operating procedure that contains step by step

instructions to complete a specfied task. It contains, pictures, text etc.

Question:- What are your KRA (Key Result Area).

Answer:- My KRAs are:-

1) I Allocated all the customer payments in Correct Customer Account.

2) I Approached to customer on time for payment remittance

3) I never breach SLA this yers

4) I Cleared the Customer as per SLA

5) I responded the customer mails on time.

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Collection:-

Question 135:-What is DSO in AR?

Answer:- is the Daily Sales outstanding. It is the average number of

days taken by a firm to collect payment from their customer

after completion of a Sale.

Question 136:- What is penetration rate?

Answer:- It is the average rate of contacting the customer in a day.

Question 137:- What kind of report that you need to prepare for collection?
Answer:- we need to prepare customer ageing report so that we get the

clear picture about the overdue invoices.

Question 138:- You are taking care of collection or cash application?

Answer:- Both. I need to approach to the customer over mails regarding

the over due invoice or remittance.

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Question 139:- What is deduction?

Answer:- Deduction in AR is the amount that a customer does not pay in full

for certain goods & services due to various reason such as damaged goods,

delay in shipments, billing mistakes or any other reason.

Question 140:- What is the deduction process?

Answer:- A deduction management process is the process followed by the

deduction teams to resolve deduction queries. It work as a customer

query resolution.

Question 141:- What is dispute management?

Answer:- Dispute menagement is the process of resolving invoice and billing

statement discrepancies that arise.

A disput may arise due to wrong delivery of goods, short delivery of goods,

damanged goods, wrong Purchase order, Invoice not received etc.

Question 142:-What is the difference between deduction & dispute

management?

Answer:- A dispute, alternatively known as a deduction claim,

arises when an invoice is raised and sent to the client

which the client does not pay in full and raises a dispute for the

transaction.

Question 143:- What is the difference between Invoice & Bill?

Answer:-An invoice and a bill are documents that convey the same
information

about the amount owing for the sale of products or services, but the term

invoice is generally used by a business looking to collect money from its

clients, whereas the term bill is used by the customer to refer to payments

they owe suppliers for their products or services. An invoice and a bill

are essentially the same thing, but the two terms are typically used by
different parties involved in the same business transaction.