what is meant by procurement cycle?
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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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