MM quizlet
Purch info record
- Allows buyers to quickly determine Which vendors have offered or supplied specific materials - Serves as default information for Purchase Orders
Materials master
- Contains all the information a company needs to manage about a material - It is used by most components within the SAP system - Material master data is stored in functional segments called Views
Vendor master data
- Contains all the necessary information needed to do business with an external supplier - Used and maintained primarily by the Purchasing and Accounting Departments - Every vendor MUST have a master record
Purch req created in 2 ways
- Directly (manually) - Indirectly (automatic)
What will dictate the use of the order and the process that the order will follow for the PO?
- Item category (procurement type) --> defined in PO
Purch req can come from (3)
- Planning (MRP) - Manually - Other
Vendor master views (3)
1. Client level 2. Company code data 3. Purchase org data
Purch group (2 responsibilities)
1. Internally responsible for procuring a material or a class of materials 2. Usually the principal channel for a company's dealings with its vendors
Types of plant facilities (4)
1. Manuf 2. distrib 3. purch 4. maintenence
Procure to pay process
1. Purch req 2. vendor select 3. purch order 4. notify vendor 5. vendor ship 6. goods receipt 7. invoice receipt 8. payment to vendor
Upon verification the:
1. Purchase Order is updated 2. Material Master is Updated (MAP) 3. Accounting Document is created
PTP process can be based on (3) factors
1. company procedures 2. product/service purch 3. others
Client level = general data (3)
Address Vendor Number Preferred Communication
Client
An independent environment in the system
Part 3 of 3 way match
An invoice is received from the vendor [third part of the 3-way match]
Storage location
An organizational unit allowing differentiation between the various stocks of a material in a plant
Info records contain (6)
Data on pricing and conditions Last purchase order Tolerance limits for deliveries Specific lead times Availability periods Vendor Evaluation data
If discrepancies arise between the purchase order or goods receipt and the invoice the system with generate a warning or an error
Depending on system configuration the difference could cause the system to Block the Invoice
Goods receipt: If materials are delivered against a Purchase Order we will reference that Order(5)
Determine if we got what we ordered System can purpose data for us from the PO - Material, quantity Purchase Order History is update with the receipt Updates Physical Inventory Updates Inventory G/L Account
Goods receipt
Goods movement in which we accept goods into our system
Purchase req definition
Internal Document instructing the purchasing department to request a specific good or service for a specified time
Indirectly
MRP Production Orders Maintenance Orders Sales Orders
Plant
Operating area or branch within a company
Elements of the pmt transaction (5)
Payment Method Bank from which they get paid Items to be Paid Calculate Payment Amount Print Payment Medium
Incoming Invoices are referenced against
Purchase Order to verify their content, prices, and arithmetic.
Purchase org data = Materials mgmt or "MM" (3)
Purchasing Currency Salesman's Name Vendor Partners
What is a Key that represents the buyer or group of buyers who are responsible for certain purchasing activities?
Purchasing Group
Company code data = Financial acctg (3)
Reconciliation Account Terms of Payment Bank Account
Purchase Orders can be created manually (4)
Reference a Purchase Order Reference a Purchase Requisition Reference a RFQ/Quotation Without Reference
Components that use material master (6)
Sales and Distribution Materials Management Production Plant Maintenance Accounting/Controlling Quality Management
Company code
Smallest org unit for which you can maintain a legal set of books
PO process (5)
Standard - stock or consumption Services Subcontracting Third-Party Consignment
Part two of the 3 way match
The goods are received (typically at the dock) and then put away [ part two of the three way match]
PMT to vendor process creates
a financial accounting document to record the transaction
After the tolerances/verification of the 3-way match are met...
a payment is made according to the terms agreed to on the purchase order.
When an invoice is saved it applies the liability from the Goods Receipt of our Purchase Order to...
a vendor
Goods usually received
at the dock
Purch order =
document to fill the need
Purch order def
formal request to a vendor for a specific material or service under the stated conditions
Purchasing group
is a group of buyers who are responsible for certain purchasing activities --> channel of communication for vendors
Purchasing org
is an organizational unit within logistics subdividing an enterprise according to the requirements of Purchasing. It procures materials and services, negotiates conditions of purchase with vendors, and bears responsibility for such transactions.
PMT to vendor manually =
payment program
Directly
person creating determines: what, how much, and when
PMT to vendor automatic =
post outgoing pmt
another name for MM process
procure to pay process
Purch order includes part one of the 3 way match** (5)
vendor, cost/price, quantity, terms and other pertinent information
Once the Invoice has been posted the
verification process is completed and the payment process is initiated within Financial Accounting