Wednesday, November 28, 2012

Accounts Payable Interview questions and Placement papers:

1.What is the meaning of invoice?
2.What is deffered revenue expenditure
3.What do you understand by Open Item Managed Account?
4.What is the difference between Consignor and Consignee?
5.What is the difference between billable and non-billable expenses?
6.What is the meaning of TDS? How it is charged?
7.Types of purchase order status and their relevance
8.Is temporary overdraft a current liability?
9.Is short term debt the same as current liabilities?
10.Will RBI asks COT code?
11.What is the first rule in accounting?
12.Does 30 days net mean 30 days from statement or invoice?


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Interview Questions in Oracle 11i e-Business suite Accounts Payable

Questions in Accounts Payable

1. Q: How do you set up voucher number in AP?
A: Set up in the system administration.
 2. Q: Can I have two sets of voucher numbering for different periods for e.g. one from 1st Apr to 31st Mar’99 and another from 1st Apr’00 to 31st Mar’01.
A: Yes, define different sequences.
 3. Q: What is the profile option for voucher number?
A: Sequential Numbering.
 4. Q: Can I have Multiple currency Bank accounts? If so how do I set it up?
A: Yes, Payable option and define Bank screen.
 5. Q: Explain the procedure for dealing with cash transactions including advance made in cash and return of cash?
A: Create a dummy cash bank.
6. Q: If I do not have a foreign currency Bank account, tell me whether I can raise a foreign currency Purchase order and pay for it in Functional Currency.?
A: NO
7. Q: Can I define Invoice type? Is it a quick code
A: NO
8. Q: What is a 4-way match?
9. Q: How do I make payment for a demand draft?
A: Either define a dummy supplier or enable the flexfield in the payment screen and write a alternate check printing program
10. Q: Explain the procedure for transferring the asset from AP to FA.
A: Transfer the invoices to GL and run the Create Mass Additions Program
11. Q: Can I create recurring invoices for prior periods?
A: NO
12. Q: Can I set approval hierarchy for expense express amounts.
A: Yes
13. Q: What is a pooled account and what does it do?
A: A pooled bank account is one that is shared by multiple companies in the balancing segment
14. Q: Where do you define the accounting information for a supplier?
A: At site level
15. Q: What types of Distribution Sets can you use for a recurring invoice?
A: Only of the type “Full”
16. Q: What are the different types of holds?
A: System Holds, Manual Holds, Supplier Site Holds
17. Q: For what purposes is the special calendar defined?
A: Recurring Invoices, Key Indicators Report and With holding Taxes
18. Q: Difference between permanent prepayment and temporary prepayment ?
A: Permanent prepayment is for long term deposits like telephone deposit, electricity deposit etc.
19. Q: Can you change permanent prepayment to temporary and vice versa at a latter date /
A: Yes
20. Q: Maximum number of discounts that can be given to each payment line?
A: Three
21. Q: Can you use Automatic offsets and allow reconciliation?
A: NO
22. Q: Can you use withholding taxes along with automatic offsets?
A: NO
23. Q: Can you reuse skipped and spoiled checks ?
A: You can reuse skipped checks but not spoiled checks.


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Tuesday, November 27, 2012

Accounting Technician Interview Questions

Accounting technicians are responsible for various aspects of finances; this includes but is not limited to: compiling and submitting tax returns, budgeting, accounts payable, accounts receivable, and proficiency in accounting software, such as QuickBooks. Accounting technicians often assist certified accountants by performing bookkeeping and administrative duties. The more experienced accounting technicians may be entrusted with greater responsibilities such as financial audits, budget analyses and managerial tasks. Compiling a list of conversational interview questions will create a relaxing atmosphere and help you to pinpoint their strengths and weakness. When interviewing technicians seek out accounting technicians with experience in the field of finance; this includes economics, accounting principles, business management and administration. Asking the right questions when interviewing for an accounting technician is essential to hiring the best candidate—this is most advantageous for the employer. Read the accounting technicians interview questions below to get an idea of what interview questions to ask.

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Accounting Interview Questions Asked by an Employer

What Prompted You to Work in Accounting?

Accounting personnel need to have a meticulous eye for detail and the ability to perform repetitive tasks without error. Taking on a career in accounting is a significant responsibility, and asking why the candidate chose that path is a good way to start an interview. Try to find a determination and interest in accounting that will translate into a reliable accounting employee.

What Do You Know About the New Accounting Software Packages?

It helps to have accounting personnel who stay up to date on the latest accounting software because then they can make suggestions on how to improve your systems. With this question, you are trying to find out if the candidate has been keeping up on new software programs and if she has any experience in using them. Discuss the programs you currently use, see if she is familiar with them and discuss what improvements could be made to your current system to make accounting more efficient.

How Do You Gather Information for Accounting Reports?

Since you will know what specific accounting discipline you are interviewing for, you can adjust this question to be more focused on the available position. For example, you can ask this question about preparing outstanding customer invoicing reports for accounts receivable positions. You are trying to determine how comprehensive the candidate's information-gathering habits are and how much of an eye for detail he has. This information is important in determining which candidates will prepare accurate reports and which ones display tendencies to leave out important information.

What is the Largest Volume of Work You have Experience In?

For payroll positions, you will want to know the maximum number of employees and the pay period frequencies that the candidate has experienced. For an accounting professional to be efficient, she needs to have the proper skills for handling the workload. If the candidate is used to a staff of 30 people and your company has 200, she may be overwhelmed by your company and could be prone to errors. This question will indicate how much extra training you will have to do to get a new accounting employee up to speed and productive.


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Job Offer Denied

This is Naga Purnima Varre. I have attended for interview for finance process in genpact Hyderabad. I cleared first 3 rounds then they put me for final round. They said me to attend the interview in the next day. As discussed previous day i attend for final round that is nothing but of operations round. Then Finance HR Mr. Sunny Raj told me that i was not cleared in final round, i can leave for the day. But the fact is, i didnt attend for final round. I questioned him, how they rejected me without interviewing me. Then he answered me to wait. Again he was back after half an hour and said that the line manager dont want to interview me. The reason behind that is I am staying in kukatpally, that is so far from Company. So they rejected me. Is this the right reason to reject me? I wasted 2 days due to this. 
But one thing i can say. Genpact has worst HR team. It loosing its goodwill due to HR people like Sunny Raj


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Accounting/Tax/Company Secretary/Audit Jobs in

Genpact Limited (NYSE: G), a global leader in business process management and technology services, leverages the power of smarter processes, smarter analytics and smarter technology to help its clients drive intelligence across their enterprise. Genpact s Smart Enterprise Processes (SEPSM) framework combined with industry vertical expertise leads to superior business outcomes. Genpact s Smart Decision Services deliver valuable business insights through targeted analytics, reengineering expertise, and advanced risk management. Making technology more intelligent by embedding it with process and data insights, Genpact also offers a wide range of technology services. The company s 58,500+ global professionals deliver services from a network of 70 centers to its 600+ clients. For more information, visit www.genpact.com. Follow Genpact on Twitter, Facebook and LinkedIn

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Monday, November 26, 2012

Top Interview Questions for Medical Billing and Coding Jobs

We’ve put together a list of the top interview questions asked for medical billing and coding jobs to help you with your job interview preparation.
Also included is the reason they are asking these questions and what the interviewer is likely looking for. These are questions we’ve either been asked or asked ourselves for when interviewing formedical billing jobs.
What’s your understanding of medical terminology?

Having a basic understanding of medical billing terms is important not only for medical coding but also for medical billing specialists. Make sure you can explain some of the more basic medical terms related to billing and coding as it relates to the billing process.
What type of certifications do you have?

I would expect this question to be asked more for medical coding jobs.Certification in medical billing is a definite plus, but I haven’t seen that requirement for strictly medical billing jobs. Certification does show you are committed to your profession and meet certain minimum standards.
Have you billed for Medicare and Medicaid?

This would be one of the top interview questions for providers who have a lot of Medicare or Medicaid patients Government payers can be difficult and challenging to bill for. CMS has more paperwork, usually takes longer to pay, and can be frustrating to deal with. Providers who have a lot of Medicare patients will want to know your knowledge and experience of Medicare and ability to get problems resolved quickly.
How do you deal with rejected or unpaid claims?

The longer claims go unpaid, the less likely it is they will be paid. Getting denied or rejected claims corrected and re-submitted can be a lot of revenue to a provider. A prospective biller or coders effectiveness and experience here is very important to a practice's accounts receivables and likely one of the top interview questions.
Are you familiar with Electronic Medical Records (EMR) systems? Which ones have you used. How did you use it?

The use of medical records software - also referred to to as EMR or EHR software - is increasingly important to providers. They may want the biller and/or coder to enter and maintain information in the EMR system. Employers value someone who is proficient in electronic medical records software and know how to use it. It can also be a valuable asset to the biller and coder in their job when verifying patient information and treatments for a claim. Many billing and practice management software programs are increasingly integrated or interface with the EMR system.
Are you comfortable working with computers? What types of software do you have experience with.

The ability to create and share documents, manage and upload files, and perform back-ups are skills that are helpful for medical billing and coding jobs. You would also want to mention any word processing (Microsoft Word) or spreadsheet (Excel) programs you have experience with.
What practice management or medical claims software do you have experience with?

Once you’ve learned on practice management or medical billing softwareprogram, it’s pretty easy to learn another. Most well written software is fairly intuitive to use. If you’ve only used on software, you might effectively make this point and emphasize your computer skills.
Do you know how to submit claims to a clearinghouse? Have you ever set up a provider with a clearinghouse or resolved claim submittal problems with them?

Sometimes there are format or compatibility problems when sending claims to a clearinghouse - especially when getting set up with them. There’s also a lot of paperwork and forms to fill out when you sign up a provider or practice. Most clearinghouses also provide valuable reporting features to help scrub and catch claim errors so they can be corrected before being sent to the insurance company. Being able to use these features and tools and being able
Do you know how to run reports? Can you customize reports?

Many practices need to run reports from their practice management software that show their financial status and performance, outstanding claims, patient balances, etc. The ability to create and customize these reports is a definite advantage. Many times when meeting with a provider, they will express a desire to see certain information in a certain format. Of course sometimes the reporting functions of the software can’t produce exactly what they want. Buy knowing how to extract information out of the practice management software - or database - is very important for a provider.
What specialties have you billed or coded for?

Certain specialties have unique coding and billing requirements. For example some mental health specialties have limitations on the number of visits and require pre-authorizations. These have to be monitored so there are no surprises for either the patient or the provider.
What procedure codes are you most familiar with?

This is pretty self explanatory and something more likely one of the top interview questions to be asked of coders.
Can you explain the difference between co-pays, deductibles, and co-insurance?

Medical billing specialists should have a good understanding of how deductibles and co-insurance are calculated, how to apply write-offs, and how to apply co-pays. Many times these are determined on the EOB by the insurance company but it’s important to understand how they are calculated. Some providers require the patient to pay their co-insurance and apply deductibles up front before claims are filed to make sure they get paid.
Are you familiar with HIPAA privacy rules? Security rules?

Questions on HIPAA laws are increasingly becoming one of the top interview questions. Because medical billers and coders have access to sensitive patient data, it’s important to have a good understanding ofHIPAA privacy requirements. You also may have responsibilities for the security of patient information and computer systems. Make sure you are up to date on HIPAA standards and can give a basic explanation of what they are and what the providers (and their staff) are responsible for.
Have you dealt much with insurance companies to resolve issues with unpaid or rejected (denied) claims?

Medical billing specialists have to deal regularly with insurance companies to get an explanation why a claim was rejected and what is necessary to get it paid. Being able to understand the insurance claim process and how to deal with payers are important to getting claims paid. That’s why this is one of the top interview questions an employer would likely ask and a weakness of many providers billing efforts.
Have you worked on insurance or patient accounts receivables?

Just about every practice has some outstanding unpaid claims (A/R or Accounts Receivable) or patient balances. May have a significant amount of money “stranded” and waiting for claim issues to be resolved. If you have experience resolving unpaid claims and reducing A/R this is a huge plus.
Have you ever appealed a denied claim? What’s your process in resolving a denied claim?

Knowing how to file an appeal with the insurance carrier is important in resolving denied claims. It takes patience as most all insurance companies have different processes, requirements, and timeframes for the appeal process. It’s not always straightforward for a reason.
What’s your experience in patient collections?

Medical billing and coding specialists don’t usually get involved with “hard” or intense collection efforts - this is usually left to the collection agency. But they usually are involved with “soft” type collections which may be a courtesy phone call or letter reminding the patient their insurance company has paid, they have a past due balance, and offer to make payment arrangements. For the more delinquent accounts it may be a notification that their account will be turned over to collections if arrangements are not made soon.
How do you deal with difficult or angry patients?

If you are a medical billing specialist, you will eventually deal with an angry patient. A lot of times they don’t understand their insurance coverage and they take their frustrations out on you - the bearer of the bad news. So when they receive a statement, that’s usually when they call the billing department and want to know why they owe something - or why it’s so much. That’s when it’s important for the biller to patiently explain their insurance coverage and if they desire more info to call their insurance company. Questions about dealing with patients are typically one of the top interview questions for billers.
How long does it take you to process a day’s charges?

Its good practice to process claims within 72 hours (3 days) of the date of service. Providers want to know that the medical biller and coder will promptly submit claims for payment.
If You Can’t Questions Top Interview Questions - Turn Negative Into a Positive
There will inevitably be interview questions you just can’t answer - or a situation you don’t have experience in. In those cases don’t answer in a negative way - such as “I can’t....” or “I don’t know...”. Answer the question in a way as to emphasize your strengths or knowledge or your ability to learn and adapt quickly. Potential employers prefer candidates who will not require a lot of hand holding or be a burden on the existing staff. They want someone who can get up to speed quickly.
So if you didn’t have any experience with EMR systems and they asked you about it, you could answer in a way that you do have good computer skills and experience on a variety of practice management systems - you can get up to speed on a new software within a day. You might also state that most of these programs are intuitive and your computer skills will apply to EMR software also.
Success Stories
In addition to preparing to answer these top interview questions, have some “success stories” or example you can give that demonstrate your ability to take action and solve problems. You can bring these up during the interview. Potential employers will be very impressed. Giving examples of what you can do can really impress the interviewer make you stand out from the other candidates.
Situation - a short overview of where and when.
Problem - state the problem or challenge.
Action Taken - describe the action(s) you took to solve the problem.
Results - give quantitative results of your actions - like “reduced accounts payable by 75%.” or “reduced unpaid claims by 50%.”
These kinds of short success examples or stories can really impress a potential employer and demonstrate how you can help them - even if you are weak in certain areas mentioned in the top interview questions above. Ideally having two or three of these examples you can go to when you need to. There’s no reason you can’t also put these examples on your resume.



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