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Sandeep kushwaha

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Sandeep Kushwaha
Sandeep Kushwaha

The document provides an overview of the procure to pay process including: 1. Determination of requirements, source determination, vendor selection, purchase order processing and monitoring, goods receipt, invoice verification, and payments. 2. It describes each step in the process such as creating purchase requisitions, issuing requests for quotation, selecting vendors, creating purchase orders, receiving goods, verifying invoices, and releasing payments. 3. It also discusses the related accounting entries for goods receipt, invoice receipt, and payment in SAP.

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PROCURE TO PAY SUMMER TRAINING PRESENTATION SUBMITTED BY:- SANDEEP KUSHWAHA MBA(FINANCE) CAPARO ENGINEERING INDIA LIMITED SUBMITTED TO:- DEBJYOTI DASS (DGM) (Finance and Accounts)
PROCURE TO PAY Procurement 1. DETERMINATION OF REQUIREMENTS 2. SOURCE DETERMINATION 4. PO PROCESSING 6. GOODS RECEIPT 8. INVOICE VERIFICATION 9. PAYMENT 5. ORDER MONITORING 3. VENDOR SELECTION SANDEEP KUSHWAHA
Determination of Requirements Creation of Purchase Requisition by users Changes in Purchase Requisition item Request to Purchasing a certain quantity of a material or a services at a time Release / Approval SANDEEP KUSHWAHA
SANDEEP KUSHWAHA Request for Quotation (RFQ) To compare all quotation (RFQ) received from vendor Source Determination and Vendor Selection 3. VENDOR SELECTION RFQ/Quotation Quotation Price comparison List Select vendor Finalisation of vendor Release / Approval
Purchase Order Processing and Monitoring Commercial document and first official offer issued by a buyer to a seller Quantities and Pricing Condition After acceptation of offer by vendor creation of PO SANDEEP KUSHWAHA Approve by Appropriate Authority
Goods Receipt with reference to PO Mark GR Number on Invoice Resulting to: Inventory update Update of G/L accounts Updates in the Purchase Order Update in Material cost Average Price) Goods Receipt SANDEEP KUSHWAHA
Invoice Verification Invoice verification for G/R, Quantity and value as invoice received. Provides 3-way matching (Vendor Invoice against Goods Receipt with reference of Purchase Order) For any invoice reversal and return delivery we can issue a Debit note to vendors SANDEEP KUSHWAHA
Payments (A/P) Maintain vendor Ageing for payment Release payment of vendor as per ageing or any advance request raise by users Updating of all payment entries Timely Reconciliation for vendor due balances with vendors account statement. SANDEEP KUSHWAHA
Accounts Payable Originates from the Purchase-to-Pay Cycle Purchase Req Quotation Inquiry Purchase order Goods Receipt Invoice Verification Account Payable Based on specific request Released to suppliers Dr. Inventory/Asset XXX Cr. GR-IR Clearing Account XXX Dr. GRIR Clearing Account XXX Cr. Accounts Payable-Vendor XXX Maintain Vendor Ageing Dr. Accounts Payable-Vendor XXX Cr. Cash In Bank XXX Payment Invite suppliers to raise their quotes for specific products or services SANDEEP KUSHWAHA
Procurement to Pay Cycle in SAP ME51N ME21N MIGO MIRO FBL1N F-58 SANDEEP KUSHWAHA Create purchase requisition When goods are received Create purchase order Dr Inventory A/C Cr GR/IR A/C When Invoice is received At this stage, both accounting and Invoice documents no. are created Dr GR/IR A/C Cr Vendor A/C Payment Configuration Payment Run When payment is made - Dr vendor A/C Cr Bank A/C
SANDEEP KUSHWAHA

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Sandeep kushwaha

  • 1. PROCURE TO PAY SUMMER TRAINING PRESENTATION SUBMITTED BY:- SANDEEP KUSHWAHA MBA(FINANCE) CAPARO ENGINEERING INDIA LIMITED SUBMITTED TO:- DEBJYOTI DASS (DGM) (Finance and Accounts)
  • 2. PROCURE TO PAY Procurement 1. DETERMINATION OF REQUIREMENTS 2. SOURCE DETERMINATION 4. PO PROCESSING 6. GOODS RECEIPT 8. INVOICE VERIFICATION 9. PAYMENT 5. ORDER MONITORING 3. VENDOR SELECTION SANDEEP KUSHWAHA
  • 3. Determination of Requirements Creation of Purchase Requisition by users Changes in Purchase Requisition item Request to Purchasing a certain quantity of a material or a services at a time Release / Approval SANDEEP KUSHWAHA
  • 4. SANDEEP KUSHWAHA Request for Quotation (RFQ) To compare all quotation (RFQ) received from vendor Source Determination and Vendor Selection 3. VENDOR SELECTION RFQ/Quotation Quotation Price comparison List Select vendor Finalisation of vendor Release / Approval
  • 5. Purchase Order Processing and Monitoring Commercial document and first official offer issued by a buyer to a seller Quantities and Pricing Condition After acceptation of offer by vendor creation of PO SANDEEP KUSHWAHA Approve by Appropriate Authority
  • 6. Goods Receipt with reference to PO Mark GR Number on Invoice Resulting to: Inventory update Update of G/L accounts Updates in the Purchase Order Update in Material cost Average Price) Goods Receipt SANDEEP KUSHWAHA
  • 7. Invoice Verification Invoice verification for G/R, Quantity and value as invoice received. Provides 3-way matching (Vendor Invoice against Goods Receipt with reference of Purchase Order) For any invoice reversal and return delivery we can issue a Debit note to vendors SANDEEP KUSHWAHA
  • 8. Payments (A/P) Maintain vendor Ageing for payment Release payment of vendor as per ageing or any advance request raise by users Updating of all payment entries Timely Reconciliation for vendor due balances with vendors account statement. SANDEEP KUSHWAHA
  • 9. Accounts Payable Originates from the Purchase-to-Pay Cycle Purchase Req Quotation Inquiry Purchase order Goods Receipt Invoice Verification Account Payable Based on specific request Released to suppliers Dr. Inventory/Asset XXX Cr. GR-IR Clearing Account XXX Dr. GRIR Clearing Account XXX Cr. Accounts Payable-Vendor XXX Maintain Vendor Ageing Dr. Accounts Payable-Vendor XXX Cr. Cash In Bank XXX Payment Invite suppliers to raise their quotes for specific products or services SANDEEP KUSHWAHA
  • 10. Procurement to Pay Cycle in SAP ME51N ME21N MIGO MIRO FBL1N F-58 SANDEEP KUSHWAHA Create purchase requisition When goods are received Create purchase order Dr Inventory A/C Cr GR/IR A/C When Invoice is received At this stage, both accounting and Invoice documents no. are created Dr GR/IR A/C Cr Vendor A/C Payment Configuration Payment Run When payment is made - Dr vendor A/C Cr Bank A/C