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.

1. P2P Process & O2C Process
2. P2P process start with

Requisitions àRFQàQuotations’àAnalysisàPOàReceivingàInvoicesàPayment.

1. B. O2C processing FOUR high-level processes i.e. Order, Invoices, Recognize the COGS and Cash Receipt.

Sales orderàBook OderàRelease the OrderàConfirm the OrderàClose the OrderàImport InvoiceàPrint the InvoiceàRevenue RecognitionàDefer the Cost of Goods àenter ReceiptàApply the Receipt.

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.

Requisitions àRFQàQuotations’àAnalysisàPOàReceivingàInvoicesàPayment.

Sales orderàBook OderàRelease the OrderàConfirm the OrderàClose the OrderàImport InvoiceàPrint the InvoiceàRevenue RecognitionàDefer the Cost of Goods àenter ReceiptàApply the Receipt.