Explain p2p cycle

Question

Explain p2p cycle

Accepted Answer

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

The cycle starts with the need for a product or service, followed by creating a purchase order.
Goods or services are received and matched with the purchase order and invoice.
The invoice is then approved for payment and payment is made to the supplier.
Finally, the transaction is recorded in the financial system for reconciliation and reporting.
Example: A company needs to purchase office supplies, so they create a purchase order, receive the supplies, approve the invoice, and make payment to the supplier.

Top Infosys Oracle Fusion Financial Functional Consultant interview questions & answers