Introduce yourself, What is P2P cycle?

Question

Accepted Answer

P2P cycle is the Procure-to-Pay cycle, which is the process of purchasing goods or services and making payments for them.

P2P cycle involves several steps such as requisitioning, sourcing, purchasing, receiving, and payment.
It starts with the creation of a purchase requisition, which is a request for goods or services.
The requisition is then approved and converted into a purchase order, which is a formal agreement to buy the requested items.
The purchase order is sent to the supplier, who delivers the goods or services.
Upon receipt, the goods are inspected and matched with the purchase order and invoice.
Once the goods are accepted, the invoice is processed for payment.
The payment is made to the supplier, completing the P2P cycle.

Accepted Answer

MY Self sulochana i have fresher sap fico i have a knowledge on sap fico, MM and SD fi-mm process is we have one accounting cycle that is called p2p cycle
p2p cycle start with purchage requestions ends with vendor out going payment.
p2p process 
1.pur. requestion
2.pur. order
3.goods receipts
4.vendor invoices
5.vendor out going payment
6.Brs
GR/Ir a/c
 To vendor a/c
vendor a/c
 To gr/ir a/c
1.101 moment type is a linked with BSX and WRX is transaction keys in own configuration with the help of valuation string.
2.BSX and WRX transaction key linked with fi-gl accounts in OBYC configuration with help of valuation class.
3.the valuation class derived from martial master under 
  accounting.
4.here goods receipt of moment type is 101 account play important rule.
5.BSX means inventory posting, wrx means gr/ir clearing a/c.
movement types:-
1. 101:- GOODS RECEIPTS
2.261:- GOODS ISSUED TO PRODUCTION ORDER
3.601:-GOODS DELIVERY TO COSTOMER
4.561:- INSTIAL STOCK
5.202:-GOODS ISSUED TO COST CENTER 
AUTOMATIC PAYMENT:-
1.obxr
2.obyr
3.oba1
4.obxu
5.obxi
6.ob
note:-integration point ofi-mm is obyc configuration

Accepted Answer

My Self Raghuram Reddy, I have a 6.9 years of experience in US Healthcare domine and Defect Process Management with Jira tools. Also I have a Knowledge on SAP FICO ,MM and SD as well. I want to change my domain has a SAP Consultant.

P2P Cycle Means Procedure to Pay. Like Request- Order -Goods Receipts - Invoice - and Payments.

First the company asks for quotes from suppliers and then creates a purchase orders. Once supplier sends the goods, the company checks the quality. If the quality is good, the company issue an invoice to the supplier. After that the company pays for the goods. This is the Procedure to pay process called P2P Cycle.

Introduce yourself, What is P2P cycle?

Top Accenture SAP Fico Consultant interview questions & answers

Popular interview questions of SAP Fico Consultant

Top HR questions asked in Accenture SAP Fico Consultant