Microsoft Dynamics 365 Enterprise Edition - Financial Management - Third Edition

Understanding Accounts Payable Basics and Controls

Accounts payable cycles are vendor invoicing and payment. These business processes manage and control the execution of vendor expenditure processes. These processes are based on procurement, purchasing, and product reception cycles in the procurement and sourcing processes. This cycle is known as the procure-to-pay cycle. This chapter covers the following topics:

• Understanding accounts payable integration with other modules
• Exploring vendor master data characteristics
• Exploring accounts payable controls