A Purchase Order (PO) is a commercial document and first official offer issued by a buyer to a seller, indicating types, quantities, and agreed prices for products or services. It is used to control the purchasing of products and services from external suppliers.
There are 3 ways to create a Purchase Order:
- Create Purchase Order from the Side Menu
- Generate a new Purchase Order by creating a new record. You will need to choose the Vendor from the list provided.
- Create Purchase Order from Linked PO
- Create Purchase Order from Reorder Analysis
- Create a Purchase Order using a tool that analyzes data and determines what needs to be purchased. It allows you to identify the items that need to be purchased at a particular time, based on certain business rules, filtering and methodologies.
Purchase Order Status
The following are the different statuses of your Purchase Order:
- Processing: Purchase Order processing means you are in the process of recording PO Inquiries. Generating those inquiries into “firm orders” will require the completion of necessary documents to permit PO to be fulfilled.
- Approved: Purchase Order has been approved.
- Sent: Purchase Order has been approved and presented to the Vendor.
- Voided: Purchase Order has been voided.
- Closed: Purchase Order has been closed.
You must change the the PO status to Approved or Sent for the Purchase Order to be received.