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I got a call about a job today. A good thing. I'm going on an interview but trying to figure out what I'm up against. She said I may be required to learn AP/AR procedures. Anyone give me a heads up what that is exactly?? I am a quick learner so hopefully it won't be an issue! But just thought I should get a heads up on it.

I'm such a 'tard. I actually had to look it up to remember. It's Accounts Payable and Accounts Receivable. Unless they've got something fancy(or I've forgotten everythin since high school) it's keeping track of all incoming and outgoing money as it relates to customers and vendors. Really quick to pick up (again, making the above assumptions).

Good luck with the interview.

my girlfriend is majoring in accounting. she says the only thing she can think of is "accounts payable, and accounts receiveable". its probably going to depend on what system they use.

Oh, and maybe whatever money the owner(s) put in or take out, but for the life of me I can't remember what that's called right now. I guess I have forgotten a lot since high school.

Thanks for the help guys. I haven't been on an interview in almost 4 years. I am a little rusty. I thought whatever info I could get would help.

NikiH wrote:Thanks for the help guys. I haven't been on an interview in almost 4 years. I am a little rusty. I thought whatever info I could get would help.

Just do what's been told to you a million times... keep your head up, back straight, and have a face that tells them... confidence! Hope that helps. J/K Just tellin ya what everyone's been tellin' me the past 5 days.

Good luck, Niki! If you wanna blow them away, bring a thermos full of Bloody Marys with you (and celery) and pass them around to whomever is interviewing you. Do that....and the job is yours.

General Failure wrote:Oh, and maybe whatever money the owner(s) put in or take out, but for the life of me I can't remember what that's called right now. I guess I have forgotten a lot since high school.

... the General Ledger? Is that what you're referring to?

The GL is a general listing of all accounting transactions including accounts payable/accounts receivable, payroll, fixed assets, etc.

These days... working with accounting records usually just means being able to use a particular piece of software. It might be a good idea to try and find out what software the company uses for accounting... download a trial version of the software and install it, and do a few tutorials to learn how to look 'proficient' when using it.

just a thought...

Good luck nikih! Keep us posted. Go in there and be confident and show your strong and the job is yours...

Means the same thing in australia as well Niki

Best of luck for ya at the interview

BossHog wrote:

General Failure wrote:Oh, and maybe whatever money the owner(s) put in or take out, but for the life of me I can't remember what that's called right now. I guess I have forgotten a lot since high school.

... the General Ledger? Is that what you're referring to?

That's where it all goes, but I just can't remember what it's called when the owner puts money in or takes it out. I want to say Capital Income, but I'm really not sure.

General Failure wrote:

BossHog wrote:

General Failure wrote:Oh, and maybe whatever money the owner(s) put in or take out, but for the life of me I can't remember what that's called right now. I guess I have forgotten a lot since high school.

... the General Ledger? Is that what you're referring to?

That's where it all goes, but I just can't remember what it's called when the owner puts money in or takes it out. I want to say Capital Income, but I'm really not sure.

They call that Drawings (at least the taking out part) in Australia and the putting in part does not have a specific name.

Niki....sorry I'm late...but yes...it's Accounts Receivable (Bill collecting) and Accounts Payable (Bill paying). Hope you got the job !!

Niki...also sorry to be late, but can help with accounting questions if you still have any

All the guys are right - couple of tips to keep up on your toes for Monday -
1. AR is usually broken into 30/60/90 and over 90 days. A good question to ask is - what's your percentage over 90... you're hip with the lingo. Anything above 5% - depending on the biz is higher than normal.
2. You might also ask what the write off procedure is, or when are accounts sent to collections? It's good stuff to know - if you're in charge of AR.
3. Most accounting programs are pretty much the same - don't worry about the name or the jargin too much. It's all the same - you provide a good or a service - and people pay you... some need to be reminded that they need to pay :0)

As for AP's - no sweat - they breakdown into whatever code is applicable for tax purposes. Like Advertising, Travel, Supplies etc. They probably have their own codes in the system already. When in doubt - it's always good to ask a question with an a), b), c) - Hey Boss, that trip you took to the Seminar in San Francisco last week - is that education or travel?

Last but not least, ask them if they have a CPA- Certified Public Accountant - a good CPA will help guide you in the right direction if or when the boss isn't around. Most CPA's can give you a handbook of terms and stuff. The AICPA is a great greoup that writes easy to understand books on various topics - AICPA GUIDE for Constuction Accounting - for example... heck I even understand that one!

Hope all this wasn't more than you ever wanted to know...:0) Good Luck, Knock'em Dead!