P2P cycle stands for Procure to Pay cycle, which is the process of obtaining goods or services from a supplier to making a payment for them. The cycle starts with identifying the need for a product or service. Next, a purchase requisition is created and approved. A purchase order is then sent to the supplier. Goods or services are received and inspected. An invoice is received from the supplier. The invoice is matched with the purchase order and goods receipt. Payment is made to the supplier. The cycle ends with reconciliation and reporting.

FirstCry Interview Questions: Explain P2P Cycle?

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Explain P2P Cycle?

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P2P cycle stands for Procure to Pay cycle, which is the process of obtaining goods or services from a supplier to making a payment for them.

The cycle starts with identifying the need for a product or ...read more

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