The PO-AP-FA-GL cycle comprises of the following steps,
01: Create Requisitions
02: Create Purchase Order with Requisition
03: Purchase Order Receive Goods
04: Create Payables invoice with Match PO Lines
05: Invoice Payment to Supplier (Optional)
06: Transfer Payables data to General Ledger (Mandatory)
07: Create Mass Additions
08: Prepare Mass Additions
09: Post Mass Additions
10: Verify the Asset
11: Calculate Depreciation
12: Asset Create Accounting
01: Create Requisitions
Nav: Procurement à Purchase Requisitions
Click the More Tasks dropdown and select Request Noncatalog Item.
Enter the below requisition details and click on Add to Cart button
Requisition added to cart
Click on the cart and click on the Review button
Review the requisition details and make sure the Charge Account is an Asset Clearing account
Review the details and Click on Submit
Requisition will create ad it will submit for approval, click on the View PDF button to check the requisition details
Approve the Requisition
02: Create Purchase Order with Requisition
Once the requisition is Approved create the Purchase order with requisition
Nav: Procurement à Purchase Orders
Click on the tasks and click on the Process Requisitions task from Requisitions or select from procurement quick actions
Search with requisition and select the requisition and click on Add to Document Builder button
Select the line click on Ok button
Click on the Create button to create the order
It will create the order and generate the order number
Verify the details (PO Charge Account should be Asset Clearing Account) and click on the submit button
It will Submit for manager approval
Approve the Purchase Order
03: Purchase Order Receive Goods
Nav: Procurement à My Receipts
Search with Requisition number or Purchase Order number and select the line and click on Receive button
Enter the receive quantity and click on Submit button
Receipt number will generate
04: Create Payables invoice with Match PO Lines
Nav: Payables à Invoices
Click on the Create Invoice link from Invoices task
Search with PO number and enter the invoice details and select the Match Invoice Lines and click on the Go button
Select the PO and click on Apply, Ok button
PO lines will be defaulted in invoice lines and Track as Asset should be selected
And Distribution Account should be an Asset Clearing Account
Validate the invoice, Click on Invoice Actions à Validate
Back to invoice page, click Save and close button
05: Invoice Payment to Supplier (Optional)
Nav: Payables à Payments
Click on the Submit Payment Process Request link from Payments task
Enter the PPR name and select the Payment Method, Supplier, Bank, Payment process profile and Approver and click on the Submit button
Click on the Go Action button
Verify the payments and click on Submit button
It will complete the process and submit the programs, Click on the View Output on Format Payment Files job
Here is the output of payment
Transfer the Payments to GL
Nav: Payments à Manage Payments, Search with PPR name and click on the payment number
Click on Action and click on Post to Ledger
06: Transfer Payables data to General Ledger (Mandatory)
Note: Invoice should be accounted before creating the Asset
Navigate to Payables, Search with invoice number in Manage invoice task
Click on the Invoice Actions and click on post to ledger button
Invoice Accounting status will changed to Accounting
07: Create Mass Additions
Create Mass additions from Invoice
Nav : Payables à Invoices à Assets à Create Mass Additions
Enter the Accounting Date and Asset Book, Click on Submit
It will be submitted and Verify the Scheduled Processes
Verify the output file and invoice should be available in create mass additions report
08: Prepare Mass Additions
Nav : Fixed Assets à Assets
Click on Prepare Source Lines under Transactions
Search with Asset Book/PO Number and open the asset
Enter the Asset Number, Asset Key, Category, Depreciation account, and location values, change the Asset Queue to Post, and click on Save and Close
09: Post Mass Additions
Nav : Additions à Ready to Post
Verify the Scheduled Process, The Source line will be converted into Asset
10: Verify the Asset
Nav: Fixed Assets à Asset Inquiry
Enter the Asset Number and click on Search
Financials
Source Lines
Cost History
Transaction
11: Calculate Depreciation
Nav : Fixed Assets à Assets
Click on the Depreciation and Click on Calculate Depreciation
Verify the Scheduled Process
Verify the Asset Enquiry and Depreciation amount will be populated
12: Asset Create Accounting
Nav : Fixed Assets à Assets
Click on Create Accounting under Accounting
Select the Book, End Date (Period End Date), Journal Batch and click on Submit
Verify the Scheduled Process
Verify the Asset Accounting
Nav: Fixed Assets à Asset Inquiry
Enter the Asset Number and click on Search
Verify the Accounting
