Can you provide an example of a situation where you had to resolve a discrepancy in an accounts payable transaction and what steps did you take to rectify it?

Example of Resolving a Discrepancy in an Accounts Payable Transaction

During my previous role, I encountered a situation where a vendor invoice did not match the purchase order and goods receipt in our accounts payable system. To rectify this discrepancy, I followed a systematic approach:

1. Investigation: I carefully reviewed the vendor invoice, purchase order, and goods receipt to identify the root cause of the discrepancy.
2. Communication: I reached out to the vendor to discuss the discrepancy and gather any additional information that could help resolve the issue.
3. Collaboration: I collaborated with the procurement team to ensure that all relevant documentation and approvals were in place for the transaction.
4. Adjustment: After thorough analysis and reconciliation, I made the necessary adjustments in the accounts payable system to reflect the accurate transaction details.
5. Documentation: I documented the resolution process, including all steps taken and decisions made, for future reference and audit purposes.

By following these steps, I was able to successfully resolve the discrepancy in the accounts payable transaction, ensuring accurate financial records and maintaining a good relationship with the vendor.