![]() There are also some additional country-specific payment methods. There are, generally speaking, four ways of sending outgoing payments: cash, checks, credit cards, and bank transfers. The outgoing payment is the document which initiates a payment to the vendor account. The A/P invoice (or A/P voucher) is the document into which accounts payable enters the vendor’s invoice information to request a payment be made to the vendor. It is used to update the inventory quantities and values. The goods receipt PO is the document that denotes the delivery of goods from a vendor to a company. It represents your commitment to the vendor to purchase the items. The purchase order (PO) is the document you provide to the vendor specifying the items or services you want to purchase, including agreed-to quantities and prices. ![]() The graphic shows the basic four-part process of ordering, receiving, and paying for goods or services.Precise historical information keeps track of which vendors come through for you consistently. The real-time view helps you identify potential shortages before they happen. SAP Business One automatically captures information at each step so you always know what is on hand in inventory as well as the up-to-the-minute financial state of your business. As a fully integrated, end-to-end business management application, SAP Business One helps you run the purchasing process, starting with the purchase order and continuing with the rest of the purchasing documents. Rather, purchasing is the process of ensuring that a steady stream of required materials is on the way to your company when and where you need them. Purchasing is not just about ordering and paying for pencils and paper clips.For the expedited process you do not use the full purchasing process, instead you use just one purchasing document to keep the process as simple and quick as possible. You submit your order by phone and the vendor the delivers the items immediately. However, sometimes, you need items right away. Normally you use the full procurement process. Imagine that your company purchases items from external vendors. List the basic process steps for procurement.At the end of this topic, you will be able to:
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