Basics of Procure to Pay Process (Indenting, PR to PO, Receiving process)

Process to pay is the process coordinated and integrated action plan to fill fill all requirement goods and services. We know that also name of P2P process involves a number of sequential stage that is identify needs, Create Requestion, Requestion approval, Create PO, Purchase Order Approval, Goods Received, Supplier Performance, Invoice Approval and Vendor Payment

Basics of Procure to Pay Process Indenting PR to PO Receiving process Procure to Pay Process
Basics of Procure to Pay Process

Identify needs

the needs for the product or service is a identified. Once a valid needs is identify document in a stick out the high level specific for goods products and term of reference.

Create Purchase Request

When you identify the product and services you can create the purchase request. Requestion can be created for any type of procurement from a standard purchase to subcontractor and consignment

Purchase Requestion Approval

after create the purchase requesting you can submit the purchase requestion approval for for high senior level to approve the purchased equation

Create the Purchase Order

after approving the purchase recursion you can send the purchase department for creating purchase order against your identify needs and services

Purchase Order Approval

the purchase department create the purchase order then sent to the high level for the approval purchase order after approve the purchase order you can send to supply vendor panel

Goods Receipt

the suppliers deliver the requested good or services and relevant goods of services received is created,

Supplier Performance:

the supply performance is evaluated a number of factor like as quality one time delivery service contract compliance responsiveness and total cost of Ownership (TCO).

Invoice Approval

the supply invest is submitted and inter into the processing system when receive the materials. The invoice is approved and forwarded to the finance team payment.

Vender Payment

Upon receiving an approved invoice the finance team will process the payment according to the contact term any contacts change and reviews of liquid financial security will be taken into accounts.

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