€¢Â   Order documents can be viewed only in Materials Management. Note: The payment program selection strategy (e.g., maximization of cash discounts) is configurable.ĩ.   Name the three different types of Materials Management documents.ġ0.   From which modules can the above documents be viewed? The Payment Program is set to maximize cash discounts when paying open vendor items. It creates a list of proposed vendor items to be paid and suggests payment methods for each proposed payment. The user has the ability to make any changes before payments are made. Invoice verification is the process of matching Vendor Invoices to the Purchase Order and Goods Receipt documents. For matched vendor invoices, a payable is automatically created in the FI General Ledger.Ĩ.   How is the Payment Program used to make Vendor Payments? Goods receipts, goods issues, and transfer postings. €¢Â   Automatically as a result of a Materials Requirements Planning (MRP) run.Ī Purchase Order is a legal contract between a buyer and a vendor. It lists the materials or services to be purchased on specified terms and conditions (quantity, price / pricing conditions, delivery date).ĥ.   Name the four steps necessary for creation of a Purchase Order.Ħ.   What are the different types of goods movements? 1.   Name the five major activities (in the order they occur) in the Procurement Cycle.Ī Purchase Requisition is a document that identifies an organization’s demand for a product or service from an outside vendor. It is an internal document (i.e., it is not visible to the vendor or any other outside organization).ģ.   What are the two ways a Purchase Requisition can be created?
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