Step-1  Generating Purchase Requistion (PP AND MM involved)

Step-2  Making Inquiries - (MM)

Step-3  Raising Purchase Order (MM)

Step-4  Release of Purchase Order (MM)

Step-5  Goods received from Vendor (MM & FI)

               Raw material account - dr 
                GR/IR clearing ac

Step-6  Invoice Verification and quality Assurance (FI & MM)

               GR/IR clearing ac
                TO Vendor

Step-7  Goods issue for consumption (MM FI & PP)

                Raw material Consumption Dr
                 TO Raw material Inventory Account

Step-8  Production Receipt (FI MM & PP)

                Finished Goods Inventory Account
                 to Change in Stock

Step-9  Finished goods delivered to Customer (MM SD & FI)

               Change in stock ac
               to Finished goods inventory

Step-10  Raising invoice on customer   (SD & FI)

               Customer ac   -
                 to Sales

Step-11 Receipt of payment from customers  (SD & FI)

Read Also

• Basic Interview Asked Questions For FI Applicants #1

Basic Interview Asked Questions For FI Applicants #2

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SAP FI (Financial Accounting) Configuration Hints and Tips

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