Explian about p 2 p cycle

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p2p cycle (procure to pay cycle)
there r certain steps involved in p2p cycle
1. a requision is raised
2. rfq i.e request for quotation is made
3.then the rfq is send to the list of suppiers.
4. the quotation comes in and the best quotation is selected
5.then p.o is generated against that quotation
6.then the product is been supplied by the supplier
7.then the invoice is been made
8. then recieving reciepts r done.
9. later all the transaction r done in general ledger in the new books of accounts

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