10 Must-Answer Accounts Payable Specialist Interview Questions [Updated 2024]

Sample Answer
In my previous role as an Accounts Payable Clerk at XYZ Corporation, I was responsible for processing approximately 200 invoices on a weekly basis. I utilized an ERP system called SAP for this process, which included matching invoices to purchase orders, verifying approvals, coding to the correct accounts, and inputting the data into the system. There was a time when we were short-staffed and the volume of invoices increased significantly. I implemented a system of prioritization and worked overtime to ensure all invoices were processed in a timely manner, which helped to prevent late payment fees.

Sample Answer
In my previous role, I noticed a consistent discrepancy in one of our supplier accounts. I initiated a thorough review of all transactions related to this account for the past six months. After a detailed analysis, I found that there was a recurring error in the way a certain type of transaction was being entered into our system. I corrected the past entries and implemented a new procedure to prevent this error from occurring in the future. This ended up saving the company a significant amount of money and improved the accuracy of our financial reporting.

Sample Answer
Accuracy is crucial in this role, and I understand the need to handle a large volume of invoices without errors. I am very detail-oriented and have developed a system to prioritize and track invoices. I use a spreadsheet to keep track of the status of each invoice, and I double-check each one before and after entering it into the system. Additionally, I use accounting software that has built-in error checking to ensure each invoice is entered correctly.

Sample Answer
In my previous role, we had a vendor who was consistently late with their deliveries. This was impacting our operations and causing a ripple effect with our own clients. I initiated a meeting with the vendor to discuss the problem. I tried to understand their perspective and learned that they were facing some logistical issues. I suggested some possible solutions, such as adjusting our order schedule or finding alternative delivery methods. In the end, we were able to establish a new routine which improved their delivery performance and our relationship significantly.

Sample Answer
When I encounter a situation where supporting documentation is missing or incomplete, I first check if there’s been an oversight or mistake. If the documentation cannot be found, I would reach out to the vendor directly to request a copy. If it’s an internal issue, I would connect with the appropriate department or individual to obtain the necessary paperwork. I would also ensure to document these steps in case of an audit. It’s crucial to maintain transparency and follow the company’s policies and procedures in such situations.

Sample Answer
In my previous role, I used Oracle ERP for all accounts payable tasks. I was responsible for entering and tracking invoices, setting up new vendors, and managing payments. I was often tasked with creating custom reports in the system to track our department’s KPIs. One significant achievement was when I identified a recurring error in our data entry process. I was able to correct the issue, which led to a 20% decrease in discrepancies. My experience with Oracle has made me very comfortable with learning new ERP systems and I’m confident that I can quickly get up to speed with any system.

Sample Answer
If I found myself in a situation where a payment is due but the funds are not currently available, I would first notify my supervisor and make them aware of the situation. Then, I would communicate with the vendor or supplier to inform them of the situation and negotiate a possible payment extension or installment plan. This would give the company some time to secure the necessary funds. In the meantime, I would work with the finance team to identify where we could potentially move funds from to cover the payment or see if there are any other solutions available.

Sample Answer
In my previous role, we introduced a new policy that required all invoices to be approved by the department head before being processed. This was met with resistance as it was an additional step in the process. I had to explain that this policy was necessary to ensure accuracy and prevent fraudulent activities. Initially, there was a lot of pushback, but as I continued to explain and enforce the policy, the team began to understand its importance. Over time, they saw the benefits as it eliminated errors and potential frauds. This experience taught me the importance of clear communication and standing firm on necessary procedures, even in the face of resistance.

Sample Answer
When faced with multiple payments due on the same day, I prioritize based on the size of the invoice, the importance of the vendor, and any potential late fees. I also communicate with vendors, when necessary, to negotiate extensions on payment terms. To manage these tasks, I use a task management system where I can set reminders and deadlines. This system allows me to view all upcoming tasks and their priorities at a glance, ensuring nothing is overlooked.

Sample Answer
In a situation where an invoice is disputed by a vendor, my first step would be to review the invoice and the corresponding purchase order to understand the nature of the dispute. I would then communicate with the vendor to discuss the issue and try to reach an understanding. If the dispute is complex and involves other departments, such as purchasing or receiving, I would involve them in the discussion to ensure all perspectives are considered. Throughout this process, I would follow company policies and procedures to ensure fairness and consistency.