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Ap Processor: An AP (Accounts Payable) Processor plays a vital role in vendor invoice management within an organization. Here's an overview of their responsibilities and the process they typically oversee: Responsibilities: 1. Invoice Processing: The AP Processor is responsible for receiving, reviewing, and processing vendor invoices accurately and efficiently. This involves verifying the accuracy of invoice details, such as billing amounts, payment terms, and vendor information. 2. Data Entry: They enter invoice data into the organization's accounting or ERP (Enterprise Resource Planning) system, ensuring that all information is recorded correctly and in compliance with company policies and procedures. 3.Invoice Approval Workflow: AP Processors often manage the invoice approval workflow, routing invoices to the appropriate departments or individuals for approval based on predefined authorization rules. 4.Issue Resolution: They handle any discrepancies or issues that arise during the invoice processing, collaborating with internal stakeholders and vendors to resolve discrepancies promptly. 5. Vendor Communication: AP Processors communicate with vendors regarding invoice status, payment inquiries, and any other related matters, maintaining positive vendor relationships. 6. Payment Processing: They coordinate with the finance team to ensure timely and accurate payment of approved invoices, adhering to payment terms and schedules. #vim #Vimlearningday23 #vimday23 #Ap_processor #sap #sapcommunity

Hi friends...!! I need a immediate job...!! I have 5 years of experience in P2P invoice processing and AR billing and I'm immediate joiner Could you please help me..!! # Process Po and Non-Po Invoices for goods and services without missing the TAT. # Resolve the discrepancy invoices which are price and quantity issue. # Good understanding on Two- and three-way matching analysis end to end process which include PO and non-PO invoices and cleared the assessment conducted by client. # Purchase invoice verification with purchase order and delivery commission. Later that I will process the invoices of vendors for the final payment settlements. # Before making payment to the suppliers deducting advance, purchase returns, discounts from invoice amount. Deliver defined targets with accuracy on daily basis. # Processing the High Dollar invoice amount payments with accurate deduction to the vendor by reconciling invoices and receiver’s by selecting appropriate reason for deduction. # Working on daily financial practices called Due Date consolidation and reporting directly to the counterpart clients regarding the invoices processed before the due date. # Worked on all the documents from end-to-end process of Dc-Payables. # Enter all Transaction for sales and purchases from the SAP and doing daily transactions related to Vendor and customer. # Handling escalations from the correspondence team to process the Invoices on priority or at the same time form the Danville team. # Good at analysis of the invoices that come to processing and verification of invoices with each and every detail. # Manually reconciling all the Invoices and Receivers with PO’s to find the discrepancy between 100 of line items for the Invoices which came to out of tolerance report thank you..😀

Hi friends...!! I need a immediate job...!! I have 5 years of experience in P2P invoice processing and AR billing and I'm immediate joiner Could you please help me..!! # Process Po and Non-Po Invoices for goods and services without missing the TAT. # Resolve the discrepancy invoices which are price and quantity issue. # Good understanding on Two- and three-way matching analysis end to end process which include PO and non-PO invoices and cleared the assessment conducted by client. # Purchase invoice verification with purchase order and delivery commission. Later that I will process the invoices of vendors for the final payment settlements. # Before making payment to the suppliers deducting advance, purchase returns, discounts from invoice amount. Deliver defined targets with accuracy on daily basis. # Processing the High Dollar invoice amount payments with accurate deduction to the vendor by reconciling invoices and receiver’s by selecting appropriate reason for deduction. # Working on daily financial practices called Due Date consolidation and reporting directly to the counterpart clients regarding the invoices processed before the due date. # Worked on all the documents from end-to-end process of Dc-Payables. # Enter all Transaction for sales and purchases from the SAP and doing daily transactions related to Vendor and customer. # Handling escalations from the correspondence team to process the Invoices on priority or at the same time form the Danville team. # Good at analysis of the invoices that come to processing and verification of invoices with each and every detail. # Manually reconciling all the Invoices and Receivers with PO’s to find the discrepancy between 100 of line items for the Invoices which came to out of tolerance report thank you..😀

Brushing up on accounts payable interview questions? Here's a quick rundown: 1. Accounts payable (AP) signifies a company's debts to suppliers for goods bought on credit, listed as a liability on the balance sheet. 2. Accounts payable and accounts receivable differ in that AP is what a company owes suppliers, while accounts receivable is money owed by customers. 3. The AP process involves receiving, verifying, matching invoices, entering them into the system, gaining payment approval, and remitting payment. 4. Key AP process documents include purchase orders, receiving reports, and vendor invoices, crucial for accuracy verification. 5. Familiar with accounting software like QuickBooks, SAP, Oracle, and Microsoft Dynamics for efficient AP handling. 6. Managing high invoice volumes involves prioritizing, batch processing, automation, organized filing, and setting due date reminders. 7. Three-way matching ensures alignment among purchase orders, receiving reports, and vendor invoices to avoid overpayment. 8. Discrepancies in invoices are resolved by comparing documents, contacting suppliers for clarification, and documenting the resolution process. #AccountsPayable #InterviewTips #Accounting #FinanceCareer

𝐈𝐦𝐩𝐚𝐜𝐭 𝐨𝐟 𝐏2𝐏 𝐩𝐫𝐨𝐜𝐞𝐬𝐬 𝐢𝐧 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭. The procure-to-pay process (P2P) is a critical function for any business that involves purchasing goods or services. The process covers everything from identifying the need for purchase to selecting a supplier, placing orders, receiving goods or services, and finally making payments. A procure-to-pay process is possible when you combine procurement with accounts payable. A P2P process helps streamline the process of purchasing goods, managing vendors, and payments. Establishing a P2P process helps prevent errors, improve the process, prevent compliance issues, etc. A well-implemented P2P process can have several benefits to the financial management of an organization. ----------------------------------------------- Please head to the below slides and share your views on this. ----------------------------------------------- #procurement #finance

If you’re new to the financial operations space or just needed a little refresher, personally when I started my career I had no ideas about these key financial operations.I believe it will be very helpful to those who want to start their career in finance or accounting domain,here are the different but critical processes that we know as P2P, R2R, and O2C: What is a procure-to-pay process?(P2P) Businesses use the term procure-to-pay (P2P) to describe the entire set of processes between sourcing, negotiating, requesting, and ordering a purchase as the customer through procurement to receiving goods or services, to processing and paying approved vendor invoices by performing accounts payable and accounting functions. Procure-to-pay process Steps: 1. Identify needs 2. Create requisitions 3. Purchase requisition approval 4. Create a Po 5. Purchase order approval 6. Goods receipt 7. Supplier performance 8. Invoice approval 9. Vendor payment What is a Record-to-report process?(R2R) Record to report (R2R) is a finance and accounting management process that involves collecting, processing, analyzing, validating, organizing, and finally reporting accurate financial data. R2R process provides strategic, financial, and operational feedback on the performance of the organization to inform management and external stakeholders. The Record to Report Process Cycle involves: 1.General Ledger Accounting 2.Closing of Book 3.Consolidation of Accounts 4.Reporting of Financials 5.Financial Analysis 6. Account reconciliation What is Order-to-cash process?(O2C) O2C or OTC, is how your business receives, processes, manages, and completes customer orders. This means handling all aspects of the sale including shipping the items, collecting the payment, creating invoices, and reporting on the end-to-end process. 1. Receive Order 2. Manage Customer Payment 3. Fulfill Order 4. Ship Order to Customer 5. Create the Invoice 6. Collect Payment #accounting #sap #bank #bankreconciliation #linkedinlearning #linkedin  #financerecruitment #financecareer #sapcommunity #cma #icmai #financeprofessionals #bs #fresherinfinance #finance

The Procure-to-Pay (P2P) cycle, which is also known as Purchase-to-Pay, involves a set of business processes that are related to the procurement of goods and services for an organization. This cycle encompasses the entire process, starting from identifying the need for a product or service to making the payment to the supplier. The P2P cycle typically includes the following key steps: 1. Identify Need: The process starts with identifying a need for goods or services within the organization. This need could arise from various departments such as production, operations, or other functional areas. 2 Quotations: A quotation in procurement is an explicit or implied reference to the price or value of something. When used correctly, quotations can help to ensure that all interested parties are aware of the price of an item being considered. 3. Create Purchase Requisition (PR): Once the need is identified, a purchase requisition is created. This document outlines the details of the required items, including quantity, specifications, and any other relevant information. The PR is then submitted for approval. 4. Supplier Evaluation and Selection: Before sending out the purchase order, the organization may evaluate and select suppliers based on various criteria such as price, quality, reliability, and past performance. 5. Purchase Order (PO) Generation: After approval of the purchase requisition, a purchase order is generated. The purchase order is a formal document issued to the supplier, specifying the items or services to be acquired, the quantity, agreed-upon price, and delivery terms. 6. Goods/Service Receipt: Upon receiving the goods or services, the receiving department acknowledges the receipt and checks whether it matches the details specified in the purchase order. This step is crucial for ensuring that the organization receives what it orders. 7. Invoice Verification: The supplier sends an invoice for the delivered goods or services. The organization then verifies the invoice against the purchase order and the goods receipt to ensure accuracy. 8. Approval and Payment: Once the invoice is verified, it goes through an approval process. After approval, payment is initiated. The payment can be made through various methods such as checks, electronic funds transfer, or other agreed-upon payment terms. 9. Record Keeping and Reporting: All relevant documents, including purchase orders, invoices, and payment records, are maintained for auditing and reporting purposes. This step ensures transparency and accountability in the procurement process. LinkedIn LinkedIn for Creators LinkedIn Learning #sap #management #change #payments #procurement #ptp #accounting #financecareer #sapcommunity #saps4hana #cma #icmai #sapcommunity

Procure-to-pay is the process of integrating purchasing and accounts payable systems to create greater efficiencies. It exists within the larger procurement management process and involves four key stages: Selecting goods and services. Enforcing compliance and order. #sapcommunity #sapconsultant

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The Procure-to-Pay (P2P) cycle, which is also known as Purchase-to-Pay, involves a set of business processes that are related to the procurement of goods and services for an organization. This cycle encompasses the entire process, starting from identifying the need for a product or service to making the payment to the supplier. The P2P cycle typically includes the following key steps: 1. Identify Need: The process starts with identifying a need for goods or services within the organization. This need could arise from various departments such as production, operations, or other functional areas. 2 Quotations: A quotation in procurement is an explicit or implied reference to the price or value of something. When used correctly, quotations can help to ensure that all interested parties are aware of the price of an item being considered. 3. Create Purchase Requisition (PR): Once the need is identified, a purchase requisition is created. This document outlines the details of the required items, including quantity, specifications, and any other relevant information. The PR is then submitted for approval. 4. Supplier Evaluation and Selection: Before sending out the purchase order, the organization may evaluate and select suppliers based on various criteria such as price, quality, reliability, and past performance. 5. Purchase Order (PO) Generation: After approval of the purchase requisition, a purchase order is generated. The purchase order is a formal document issued to the supplier, specifying the items or services to be acquired, the quantity, agreed-upon price, and delivery terms. 6. Goods/Service Receipt: Upon receiving the goods or services, the receiving department acknowledges the receipt and checks whether it matches the details specified in the purchase order. This step is crucial for ensuring that the organization receives what it orders. 7. Invoice Verification: The supplier sends an invoice for the delivered goods or services. The organization then verifies the invoice against the purchase order and the goods receipt to ensure accuracy. 8. Approval and Payment: Once the invoice is verified, it goes through an approval process. After approval, payment is initiated. The payment can be made through various methods such as checks, electronic funds transfer, or other agreed-upon payment terms. 9. Record Keeping and Reporting: All relevant documents, including purchase orders, invoices, and payment records, are maintained for auditing and reporting purposes. This step ensures transparency and accountability in the procurement process. LinkedIn LinkedIn for Creators LinkedIn Learning #sap #management #change #payments #procurement #ptp #accounting #financecareer #sapcommunity #saps4hana #cma #icmai #sapcommunity