Bill Processing Practice Exam

About Bill Processing
Billing is the process of raising invoice and requesting payment from customers against them. An invoice details the product or service provided to the customer with payment outstanding to the customer.

Bill processing is the business process of the accounts payable which generates outstanding to be received by the organization by generating invoices detailing it. Details are noted in accounting books and ledgers usually by the accounting software.

A bill or invoice has the following details
-    product or service provided
-    buyer and seller contact details
-    Buyer purchases
-    products’ pricing
-    payment terms
-    date and the last acceptable payment date

The steps in bill or invoice processing at buyer’s end are
-    Receive Invoice
-    File a copy of Invoice
-    Approve the Invoice
-    Make payment against the Invoice

Bill Processing has gained immense popularity across the globe resulting in huge demand for certified professionals.

Why is Bill Processing important?
Billing is a crucial process for any business. Billing helps the company keep track of its outstanding and is also able to better manage their cash flow.

Bill processing helps companies to
-    Control on the outstanding
-    Makes payment transparent amongst the company and the customer
-    manage cash flows more efficiently
-    Create credibility by making timely payments
-    Optimizing Operations & Simplifying Reporting

Important  Concepts in Bill Processing

• Basic Accounting Principles
• Financial Statements
• Billing Process
• Rate structure
• Discounts and surcharges
• Bill Reversal
  

Bill Processing certified professionals, executives and managers are in high demand in companies across the globe.

Who should take the Bill Processing Exam?

•    Accounting and finance professionals
•    Business owners
•    Entrepreneurs
•    Accounting and finance managers and senior executives

Bill Processing Exam Objectives

Bill Processing exam focuses on assessing your skills and knowledge in concepts and application of processing of bills.

Bill Processing Exam Pre-requisite

There are no prerequisites for the bill processing exam. Candidate should be well versed  in processing of bills and invoices to clear the exam.

Bill Processing Certification Course Outline

1. Basic Accounting Principles and Framework
1.1. Learning to Understand Accounting
1.2. Assumptions, Principles, and Conventions of Accounting
1.3. Global Standards for Accounting

2. The Accounting Equation and Financial Statements
2.1. The Accounting Equation
2.2. Double-entry, Debits, and Credits
2.3. Understanding Financial Statements

3. The Accounting Cycle and Accrual Accounting
3.1. The Accounting Cycle
3.2. Chart of Accounts
3.3. Cash and Accrual Accounting

4. Accounting Transactions and Books of Account
4.1. General Journals and Special Journals
4.2. General Ledgers and Subsidiary Ledgers
4.3. Posting Accounting Transactions

5. Bill Processing
5.1 Billing Process
5.2 Rate structure
5.3 Discounts and surcharges
5.4 Outstanding Bills
5.5 Bill Reversal


Exam Format and Information
Certification name – Bill Processing Certification
Exam duration – 60 minutes
Exam type - Multiple Choice Questions
Eligibility / pre-requisite - None
Exam language - English
Exam format - Online
Passing score - 25
Exam Fees  - INR 1199