Introduction
Business cycle – P2P & O2C is important for any FICO Consultant for better understanding of Client’s business.
Procure to Pay
The procure to pay cycle is a process in which business inquire, request, receive and then pay for raw goods and services
Generating Purchase Requisition – ME51N
Making Inquiry – LM12
Purchase order Creation – ME21N
Release of Purchase order – ME28
Goods received from Vendor – MIGO (MM & FI Integration)
Raw Material Inventory a/c Dr – (Transaction key BSX in OBYC )
GR/IR Clearing account a/c Cr – (Transaction key WRX in OBYC )
Goods Issued for Consumption (MM-FI-PP Integration)
Raw material Consumption a/c Dr
Raw material Inventory account a/c Cr
Production receipt (MM-FI-PP Integration)
Finished goods Inventory a/c Dr
Change in Stock a/c Cr
Invoice Verification – MIRO
GR/IR Clearing account a/c Dr
Vendor a/c Cr
Payment to Vendor – F110 for Automatic payment & F-53 Manual payment
Vendor a/c Dr
Bank a/c Cr
Order to Cash
Order to cash is a set of business processes that involve receiving and fulfilling customer requests for goods or services.
Inquiry from Customer – VA11
Sending Quotation – VA21
Sale order – VA01
Delivery of Finished goods – VL01N (SD-MM-FI Integration)
Change in Stock a/c Dr (Transaction key GBB in OBYC )
Finished goods Inventory a/c Cr ( Transaction key BSX in OBYC )
Customer Billing – VF01
Customer a/c Dr
Sales a/c Cr – (Account key ERL in VKOA )
Receipt of Payment – F-28
Cash/Bank a/c Dr
Customer a/c Cr
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