Bookkeeper Mock Interview

Practice 30 Bookkeeper interview questions covering reconciliation, accuracy, and accounting software proficiency.

Question 30 of 30

True or False: For vendor invoices, it is always best to pay the bill as soon as possible.

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Brian Schuchart is a CPA and Senior Finance Business Partner. His professional experience includes senior management roles with NBC Sports, Virtual Health, and the Children's Hospital of Philadephia.

This is a bit of a trick question and tests your understanding of cash flow. As a general rule of thumb, it is almost always better to receive cash from customers as quickly as possible and pay vendors as slowly as possible (while still adhering to the payment terms). The goal of doing this is to maximize cash on hand which provides flexibility for the company.

Brian Schuchart

Brian Schuchart is a CPA and Senior Finance Business Partner. His professional experience includes senior management roles with NBC Sports, Virtual Health, and the Children's Hospital of Philadephia.

"That statement is false. When it comes to Accounts Payable and the payment of invoices, it is better to use the vendor payment terms to our advantage. If we pay bills as soon as they are received, that ties up cash that could have been used for other purposes. The only time it may be advantageous to pay sooner than the due date is if there is a discount for paying earlier."

Tabatha Lee

I am a CPA with over 12 years of bookkeeping experience.

That is false. It is not always best to pay vendor invoices as soon as you receive them unless there is a deduction associated with closing the invoice early. It is best to utilize the invoice payment terms because it allows us to maintain an average cash flow. By paying early, you risk the chance of tying up cash that is needed elsewhere. That is my opinion on paying vendor invoice payments early.

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30Bookkeeper Interview Questions & Answers

Behavioral

1.Are you a detail-oriented person?

Behavioral

2.What have you done recently to become a better bookkeeper?

Technical

3.What are the steps involved in the bank reconciliation process?

Technical

4.What are the differences between accrual accounting and cash accounting?

Technical

5.What are the three main financial statements and what do they indicate about an organization's financial position?

Behavioral

6.How would you handle working in an increasingly remote work environment?

Behavioral

7.Do you have experience explaining complex accounting concepts to non-financial personnel?

Technical

8.Give some examples of non-cash expenses.

Behavioral

9.How do you manage your manager? In other words, what steps do you take to make sure you get what you need from your boss and make both your lives easier?

Technical

10.Do you have experience working with external auditors?

Technical

11.What are the steps involved in the accounting close process?

Technical

12.What are Days Sales Outstanding, and what is indicated when days outstanding grows?

Career Goals

13.Why did you want to become a bookkeeper?

Technical

14.What are the different inventory valuation methods?

Behavioral

15.What do you do when you don't know the answer to something?

Technical

16.What accounting software are you familiar with?

Behavioral

17.What have you done at your previous job to reduce costs or save time?

Behavioral

18.Are you willing to work extra hours if needed during busier times?

Technical

19.What are Days Inventory on Hand, and what is indicated when days on hand grows?

Behavioral

20.How do you mitigate and manage stress?

Technical

21.Are you proficient in Excel?

Technical

22.What are Days Payable Outstanding, and what is indicated when days outstanding grows?

Behavioral

23.What are some methods you use to self-review your work?

Behavioral

24.What is your comfort level with interacting and communicating with senior leadership?

Technical

25.What are some examples of internal controls that impact the bookkeeper role?

Technical

26.What is depreciation expense, and how is it recognized?

Technical

27. Do you have any experience with invoicing vendors?

Technical

28. Imagine that you are producing a month-end report and notice the ledger is off. What would you do to rectify this situation?

Technical

29.Which statements or reports would you prepare as part of your month-end close package?

Technical

Bookkeeper Mock Interview

True or False: For vendor invoices, it is always best to pay the bill as soon as possible.

30Bookkeeper Interview Questions & Answers

1.Are you a detail-oriented person?

2.What have you done recently to become a better bookkeeper?

3.What are the steps involved in the bank reconciliation process?

4.What are the differences between accrual accounting and cash accounting?

5.What are the three main financial statements and what do they indicate about an organization's financial position?

6.How would you handle working in an increasingly remote work environment?

7.Do you have experience explaining complex accounting concepts to non-financial personnel?

8.Give some examples of non-cash expenses.

9.How do you manage your manager? In other words, what steps do you take to make sure you get what you need from your boss and make both your lives easier?

10.Do you have experience working with external auditors?

11.What are the steps involved in the accounting close process?

12.What are Days Sales Outstanding, and what is indicated when days outstanding grows?

13.Why did you want to become a bookkeeper?

14.What are the different inventory valuation methods?

15.What do you do when you don't know the answer to something?

16.What accounting software are you familiar with?

17.What have you done at your previous job to reduce costs or save time?

18.Are you willing to work extra hours if needed during busier times?

19.What are Days Inventory on Hand, and what is indicated when days on hand grows?

20.How do you mitigate and manage stress?

21.Are you proficient in Excel?

22.What are Days Payable Outstanding, and what is indicated when days outstanding grows?

23.What are some methods you use to self-review your work?

24.What is your comfort level with interacting and communicating with senior leadership?

25.What are some examples of internal controls that impact the bookkeeper role?

26.What is depreciation expense, and how is it recognized?

27. Do you have any experience with invoicing vendors?

28. Imagine that you are producing a month-end report and notice the ledger is off. What would you do to rectify this situation?

29.Which statements or reports would you prepare as part of your month-end close package?

30.True or False: For vendor invoices, it is always best to pay the bill as soon as possible.