Here are the top 12 most frequently asked questions about P2P (Procure-to-Pay) process in SAP, along with their answers | TOP 12 Interview Questions and Answers p2p cycle in SAP MM | p2p process in sap | 2 way match in accounts payable | 3 way matching for accounts payable
TOP 12 Interview Questions and Answers p2p cycle in SAP MM
Q1 .what is p2p process in sap?
Answer : P2P (Procure-to-Pay) process in SAP refers to the complete process of procuring goods or services from an external vendor, from sending a purchase requisition to processing the vendor invoice and making the payment.
Q2. What are the main components of P2P process in SAP?
Answer: The main components of P2P process in SAP are: purchase requisition, purchase order, goods receipt, invoice verification, and payment.
Q3.What is the role of SAP MM module in P2P process?
Answer: SAP MM (Materials Management) module plays a crucial role in P2P process by providing functionality for procurement and inventory management.
Q4.How is P2P process integrated with other SAP modules?
Answer: P2P process is integrated with other SAP modules, such as SAP FICO (Financial Accounting and Controlling), SAP SD (Sales and Distribution), and SAP PP (Production Planning), to ensure a seamless flow of information and data across the organization.
Q5.What is purchase requisition in SAP P2P process?
Answer: Purchase requisition in SAP P2P process is a request for goods or services, initiated by an employee in the company, that triggers the procurement process.
Q6.What is the difference between purchase order and purchase requisition in SAP?
Answer: A purchase requisition is a request for goods or services, while a purchase order is a legally binding document issued to a vendor to supply goods or services at a specified price.
Q7.What is goods receipt in SAP P2P process?
Answer: Goods receipt in SAP P2P process is the process of recording the delivery of goods from a vendor and updating the SAP system accordingly.
Q8.What is invoice verification in SAP P2P process?
Answer: Invoice verification in SAP P2P process is the process of comparing the invoice received from the vendor with the purchase order and goods receipt to ensure that the invoice amount is correct.
Q9.What is the role of SAP FICO in P2P process?
Answer: SAP FICO (Financial Accounting and Controlling) module plays a role in P2P process by providing functionality for financial accounting, controlling, and reporting.
Q10.What is the importance of P2P process in SAP?
Answer: P2P process in SAP is important as it helps in managing the procurement process efficiently and effectively, ensuring timely delivery of goods and services, reducing procurement costs, and improving the overall financial performance of the organization.
Q11. 2 way matching in p2p (2 way match in accounts payable )
Answer.2 way matching in P2P (Procure-to-Pay) process is a process of comparing the purchase order and goods receipt against the vendor invoice to ensure that the invoice amount is correct and matches the agreed terms.
The purpose of two-way matching is to verify that the goods or services received match the items ordered and that the price agreed in the purchase order is correct. This helps to prevent errors and overpayments and ensures that the vendor invoice is accurate and can be processed for payment.
Two-way matching is typically performed in the SAP system and involves the following steps:
- Comparison of the purchase order with the vendor invoice to ensure that the items ordered and the price agreed are correct.
- Comparison of the goods receipt with the vendor invoice to ensure that the goods or services received match the items ordered.
- Generation of a payment proposal if the two-way matching criteria are met.
- Approval of the payment proposal and processing of the payment to the vendor.
Two-way matching is an essential part of the P2P process and helps to ensure that the procurement process is efficient, effective, and accurate and that the vendor is paid the correct amount.
Q.12. 3 way matching in p2p (3 way matching for accounts payable )
Answer . 3 way matching in P2P (Procure-to-Pay) process refers to the process of comparing the purchase order, goods receipt, and vendor invoice to ensure that the invoice amount is correct and matches the agreed terms.
The purpose of three-way matching is to validate the accuracy and completeness of the information related to procurement, such as the goods or services received, the items ordered, and the price agreed. This helps to prevent errors and overpayments, and ensures that the vendor invoice can be processed for payment.
Three-way matching is typically performed in the SAP system and involves the following steps:
- Comparison of the purchase order with the vendor invoice to ensure that the items ordered and the price agreed are correct.
- Comparison of the goods receipt with the vendor invoice to ensure that the goods or services received match the items ordered.
- Comparison of the goods receipt with the purchase order to ensure that the goods or services received match the items ordered and the price agreed.
- Generation of a payment proposal if the three-way matching criteria are met.
- Approval of the payment proposal and processing of the payment to the vendor.
Three-way matching is a more comprehensive approach to verifying the accuracy of the procurement process and provides an additional level of control and security compared to two-way matching. By incorporating a third validation step, three-way matching helps to ensure that the procurement process is efficient, effective, and accurate and that the vendor is paid the correct amount.
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