Procure-To-Pay is one of the most prominent cycles of Oracle E-Business Suite. The simplified version of Procure to Pay cycle consists of purchasing of goods or services from a vendor and paying him the money in return. It is also known as P2P cycle among some programmers. You will find many websites that explains in detail steps of Oracle P2P process.
Let us look at simply an overview of this cycle from interview perspective.
Steps of Procure to Pay
- Create Purchase Requisition: Formal request to buy something
- Create Purchase Order: After requisition is approved, create a Purchase Order
- Receive the goods: Receive the goods from vendor or supplier
- Creation of Payable invoice: Invoice will be created automatically or manually after receiving of goods
- Payment to Supplier: Once the invoice is validated, supplier or vendor is paid
- Transfer to General Ledger: Transfer payable data to General Ledger
Tables in Procure to Pay Cycle
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