As part of this chapter, we covered a brief introduction to the procurement products and walked through the transaction capabilities. We reviewed how to create requisitions, how to manage approvals for these and other transactions, how to convert requisitions to purchase orders, and receiving functions.
We covered configuration aspects that relate to transacting purchase orders and receipts. We also briefly touched on accruals and default accounting for transactions in procurement.
In the next chapter, we will cover the next step in the Procure to Pay business process flow and review how to manage expense suppliers, and how to create and manage invoices, Credit Memos, and Pre-payments. We will also walk through a new product in R12, Payments, and review how to configure the payment manager and transacting and managing payments.