P2P Cycle Flow (India Localization) with Accounting Entries

P2P Cycle Flow (India Localization)
Step	Activity	Navigation	Responsibility
1	PO Creation	India Localization>Purchase Orders>Purchase Orders	India Local Purchasing
2	Attach Tax for the PO	India Localization>Purchase Orders>Purchase Orders	India Local Purchasing
3	Approve the PO	India Localization>Purchase Orders>Purchase Orders	India Local Purchasing
4	Take Receipt against the PO	India Localization > Receipts >Receipts (Localized)	India Local Purchasing
5	Check Completion of Report "Receiving Transaction Summary"	View (Alt + V) > Requests > Find	India Local Purchasing
6	Claim Vat for the PO	India Localization > Receipts >Receipts (Localized)	India Local Purchasing
7	Claim Excise for the PO	India Localization > Receipts >Claim Modvat on Receipts	India Local Purchasing
8	Trigger "Pay on Receipt Auto Invoice" Concurrent (For Importing the Transaction from Purchasing to Payables)	View (Alt + V) > Requests > Submit New Request	India Local Purchasing
9	Trigger “India - To insert taxes for Pay On Receipt” (To insert Taxes to Payables)	View (Alt + V) > Requests > Submit New Request	India Local Payables

Accounting Entries P2P Cycle
S no	Activity	Debit	Credit
1	PO Receipt	Inventory Receiving A/c	AP Accural A/c
		Vat Interim Recovered
2	Claim Excise	RG 23A Basic
		RG 23A CESS
		RG 23A SH CESS
			Inventory Receiving A/c
3	Claim VAT	Vat Recovered
			Vat Interim Recovered
4	Delivery	Material Value A/c	Inventory Receiving A/c
5	Invoice	AP Accural A/c	Liability A/c
		Misc. Excise
		Misc. CESS
		Misc. SH Cess
		Misc. Vat
6	Payment	Liability A/c	Cash / Clearing A/c