Hi friends,
can anyone plz explain me about p2p cycle, if any body have documents related to this plz provide me
Procure To Pay Life Cycle
hi Arjun
p2p cycle goes like this,
1. It starts with identifying the need or demand of the inventory. Formally known as intent or requisition any one in the org who is employee of the org can raise requisition.
2. Requisition has to b approved by the proper authority.
3. PO dept will send request for requisition to the available suppliers.
4. They respond with quotations, quotation will b analyzed and PO dept will make purchase order.
5. As per the terms of the PO supplier will send goods and the invoice
6 Inventory people will receive the goods.
7. Payable people will validate the invoice as per the PO they make the payments.
8. Reconcile the bank statements is the end of particular p2p cycle.
p2p cycle goes like this,
1. It starts with identifying the need or demand of the inventory. Formally known as intent or requisition any one in the org who is employee of the org can raise requisition.
2. Requisition has to b approved by the proper authority.
3. PO dept will send request for requisition to the available suppliers.
4. They respond with quotations, quotation will b analyzed and PO dept will make purchase order.
5. As per the terms of the PO supplier will send goods and the invoice
6 Inventory people will receive the goods.
7. Payable people will validate the invoice as per the PO they make the payments.
8. Reconcile the bank statements is the end of particular p2p cycle.
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