Please explain the P2P Cycle ?

Question

Accepted Answer

The P2P Cycle refers to the end-to-end process of purchasing goods or services, from requisition to payment.

The cycle starts with a purchase requisition, where a request is made for goods or services.
The requisition is then approved by the appropriate authority.
A purchase order is created based on the approved requisition, specifying the details of the purchase.
The purchase order is sent to the supplier or vendor.
Upon receiving the goods or services, the receiving department matches the received items with the purchase order.
An invoice is generated by the supplier, detailing the amount to be paid.
The invoice is verified against the purchase order and receiving report for accuracy.
Once verified, the invoice is approved for payment.
Payment is made to the supplier, either through a check, electronic transfer, or other agreed-upon method.
The payment is recorded in the accounts payable system for tracking and reconciliation.

Accepted Answer

P2P is process to pay the process is purchasing , reciving paying

Accepted Answer

procure-to-pay is the process of requisitioning, purchasing, receiving, paying for, and accounting for goods and services, covering the entire process from point of order right through to payment

Accepted Answer

Also known as purchase-to-pay and P2P, procure-to-pay is the process of requisitioning, purchasing, receiving, paying for, and accounting for goods and services, covering the entire process from point of order right through to payment.

Accepted Answer

P2P cycle is the process which include to Fulfill the requisition of the company weather its for internal or external of the company from the dept. P2P contain product name, product qty., when product require

Accepted Answer

From Purchase to Payment All process we can say P2P .1st I planned for Requirement then then send to supplier for quotation after that make order form then receive goods and make a invoice then you do payment process .This all process I can say P2P.

Please explain the P2P Cycle ?

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