The Procure To Pay cycle is vital to an organization as in
this process the organization buys and received goods or services from its
vendors and makes necessary payments.
The P2P cycle consist
of the following steps
1.
Create Requisition
2.
Create Purchase Order
3.
Create Receipts
4.
Create Invoice and Validate the Invoice
5.
Make Payment to Supplier
6.
Transfer and Import Journal to General Ledger
7.
Verifying the Journal entry
Step-1 : Create Requisition
• Navigation:
Procurement → Purchase Requisitions
Click
on Enter requisition line
Enter the required details and click on Add to cart and
click on Done
Items
will be added to cart and click on Review
to review and submit
Review all values click on Submit Requisition will be submitted
for Approval.
Step-2 : Create Purchase Order
We can create a purchase order
in two ways
1.Purchase order through
requisition
2.Purchase order without
requisition
Purchase order through
requisition:Navigation: Procurement
→ Purchase Order
Step-3 : Create Receipts
Navigation: Inventory management → Receipts.
Give Purchase Order number and search
Click on receive button
Click on submit button
Give Purchase Order number and search
Click on receive button
Click on submit button
Step-4 : Create Invoice and Validate the Invoice
Navigation: Payables
→ Invoices
Give the PO number and enter the invoice amount, invoice
name.
