Procurement Cycles

Cycles

In real time we go with different types of procurement processes. Some of those are:

1.   Domestic & Import:

In domestic procurement we purchase materials from local vendor of same country. The process is same for Import also but we procure materials from Foreign Vendor. This is the main  difference between Domestic & Import.

In Import procurement we need to pay Custom duties at customs office.

Accounting Entries @ MIGO and MIRO.

In Import additionally Customs value Debited.