The accounts payable module manages and controls vendor transactions from the accounting point of view, where it records vendor master information and the basic transactions related to vendor invoicing, payment, and settlement. The accounts payable function is integrated with other business functions.
The first integration point with procurement and sourcing business functions is procuring goods and services for the company, the second integration is invoicing the purchase order based on received goods in the warehousing, and the third integration, with cash and bank management business functions, is performing vendor payment and settlement against invoices. The full cycle of procure-to-pay ...
