Narayan Reddy Gunreddy May 5th, 2006 Hi,Procure 2 Pay cycle involves two stages ONE is procure which starts with requesting an item and ends up with getting the item into stores if it is a stockable item or expenses items no need to bring into stores.Requester placess a request for an item On approval of request , buyer will place an purchase order (LPO).On approval of LPO , procurement dept send LPO to supplierFinally gets item into inventorystatge TWO Pay:Making payment against invoice in Payables .
What you mean by procure to pay cycles? Can u tell me the Journal entry for procure to pay cycles?
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