Answer Posted / an.reddy

procurement cycle means cycle it is integrating with
different modules

it starts from MM

Enquiry
Quation
Purchase order
Goods Receipt
invoice verifaction
Delivey
Billing
payment



the accounting entries will effecting by from
goods receipt
inventory a/c dr
to
gr/ir a/c

invoice verifacation

gr/ir a/c
to
vendor
delivery
cogs a/c dr
to
inventory (finished goods)
billing
customer a/c
to
sales a/c
payment
cash a/c
to
customer

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