P2P - Procure to Pay Process with definition
P2P - Procure to Pay Process with definition
The Procure to Pay process flow contents the following steps
1. Received the approved purchase request.2. Invite quotes from vendors.
3. Issue a purchase order (PO).
4. Receive goods or services from the supplier.
5. Book inventory or create receipt.
6. Send supplier invoice to the account department.
7. Before entering the data, matching with all documents, like PO, Quality report, receipt note and extra.
8. You can go for approval to process the payment
9. Release the payment as per payment terms.