Explain the procure-to-pay process in SAP FICO?

 The Procure-to-pay process in SAP FICO involves the entire procurement cycle, starting from the purchase requisition purchase order, goods receipt, invoice verification, and finally, payment processing.

There is no accounting entry for PR & PO creation

Accounting entry at the time of GR - Inventory A/c Debit to GR/IR A/c Credit

Accounting entry at the time of IR - GR/IR A/c Debit to Vendor A/c Credit

Accounting entry at the time of Payment - Vendor A/c Debit to Bank A/c Credit

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