Journals it is used to record the business transaction it contains debit and credit lines always debit must be equal to credit. Types of journals are Suspense Journal or Unbalanced Journal, Recurring Journals and Reversal journals.
P2P Process & O2C Process
P2P process start with
Requisitions à RFQà Quotations’à Analysisà POà Receivingà Invoicesà Payment.
B. O2C processing four high-level processes i.e. Order, Invoices, Recognize the COGS and Cash Receipt.
Sales orderà Book Oderà Release the Orderà Confirm the Orderà Close the Orderà Import Invoiceà Print the Invoiceà Revenue Recognitionà Defer the Cost of Goods à enter Receiptà Apply the Receipt.
P2P Process & O2C Process
P2P process start with
Requisitions à RFQà Quotations’à Analysisà POà Receivingà Invoicesà Payment.
B. O2C processing four high-level processes i.e. Order, Invoices, Recognize the COGS and Cash Receipt.
Sales orderà Book Oderà Release the Orderà Confirm the Orderà Close the Orderà Import Invoiceà Print the Invoiceà Revenue Recognitionà Defer the Cost of Goods à enter Receiptà Apply the Receipt.
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