Accounts Manager Interview Preparation Guide

Speak confidently when answering questions where success is the subject. You do not have to gush and describe every possible aspect you can think of. Talk about a few key concepts, like communication and negotiation skills, market research and customer prospecting, etc. You will make an even better impression if you give an example from your own professional life to demonstrate your idea.

As an account manager, you work on two fronts: the clients and your company. Both require excellent communication skills. You need to earn the trust of both clients and managers, to convince both sides to close the best possible deal. Teamwork is probably more related to coordinating actions with the company, the development, sales, and marketing departments.

An account manager uses the information at his disposal to maintain and increase client interest. Staying current and doing marketing research are key factors to understanding what the customer is getting tired of and what he might become interested in. This information has to be effectively coordinated with the company departments in order to result in a product that will prevent the customer from leaving.

This question tests your confidence, self awareness, and independence. Do not be afraid to speak your mind confidently. The ability to work independently and make decisions is crucial if you are an account manager. This in turn requires being organized and self motivated, with the ability to work with many customers at once. This means outstanding customer service skills.

Generally speaking, it is important to do research on a regular basis in relation to every individual client or category of clients. Effective research assesses current situations to project future developments and opportunities for the company. It studies competitors and proposes improvements.

In case Trial Balance disagrees, following steps should be taken to locate the errors:
★ Totaling of all the subsidiary books and trial balance should be checked carefully.
★ Opening balances of all the accounts are properly brought down in the current year's books of account.
★ Ledger accounts have been properly balanced and the balances of ledger accounts have been correctly shown in the trial balance.
★ To locate some errors the difference in the trial balance in halved.
★ Another way is dividing the difference in the trial balance by 9.
★ If the difference gets divisible without leaving any reminder that indicates the transposition of the amounts.
★ To locate certain other errors, current year trial balance can be compared with the trial balance of the previous year.

Trial Balance is a summary of all the balances of various ledger accounts and Cash/Book accounts of an organisation at any given date. For the preparation of Trial Balance the entire Ledger accounts and Cash book/Bank book are required to be balanced to get the closing balance. Assets and Expenses accounts having debit balance are posted on debit side whereas Income and Liability accounts having credit balance are posted on credit side of the Trial Balance.

★ Cheques deposited into the bank but not yet collected
★ Cheques issued but not yet presented for payment
★ Bank charges
★ Amount collected by bank on standing instructions of the concern.
★ Amount paid by the bank on standing instructions of the concern.
★ Interest debited by the bank
★ Interest credited by the bank
★ Direct payment by customers into the bank account
★ Dishonour of cheques
★ Clerical errors

In a business, sometimes it is not feasible to carry accounts of all the suppliers and customers in the main ledger. In such cases apart from General or main ledger, the control ledgers are maintained. Control ledgers records the individual accounts. In the end of the period, balance shown in the main ledger has to tally with the balance in the individual ledger accounts maintained in the control ledger.

An accurate Trial Balance is an evidence that all the transactions are recorded and posted in the General Ledger account as per the accounting principles. It also ensures arithmetical accuracy of the process of ledger posting.