Wednesday, April 15, 2015

Purchasing process described with module integration highlighted

  • Step-1  Generating Purchase Requisition (PP AND MM involved)
  • Step-2  Making Inquiries - (MM)
  • Step-3  Raising Purchase Order (MM)
  • Step-4  Release of Purchase Order (MM)
  • Step-5  Goods received from Vendor (MM & FI)
    Raw material account - dr
    GR/IR clearing ac
  • Step-6  Invoice Verification and quality Assurance (FI & MM)
    GR/IR clearing ac
    TO Vendor
  • Step-7  Goods issue for consumption (MM FI & PP) 
    Rawmaterial Consumption Dr
    TO Rawmaterial Inventory Account
  • Step-8  Production Receipt (FI MM & PP)
    Finished Goods Inventory Account
    to Change in Stock
  • Step-9  Finished goods delivered to Customer (MM SD & FI)
    Change in stock ac
    to Finished goods inventory
  • Step-10  Raising invoice on customer   (SD & FI)
    Customer ac   -
    to Sales
  • Step-11 Receipt of payment from customers  (SD & FI)