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Purchasing DocumentsPurchasing DocumentsModule 5 Lesson 5Module 5 Lesson 5
What are purchasing documents?What are purchasing documents? In a business, when you want to In a business, when you want to
purchase something, there is purchase something, there is usually a procedure in place for usually a procedure in place for making those purchases. The making those purchases. The purpose of having a procedure purpose of having a procedure is to justify purchases, to is to justify purchases, to account for money spent and account for money spent and goods received. This procedure goods received. This procedure involves 3 different documents. involves 3 different documents.
What is the procedure?What is the procedure?Step 1: Complete a Step 1: Complete a Purchase Purchase
Requisition Requisition and submit to the and submit to the correct person/department correct person/department within your companywithin your company
Step 2: If approved, a Step 2: If approved, a Purchase Purchase OrderOrder is issued and products is issued and products are purchasedare purchased
Step 3: The seller creates and Step 3: The seller creates and sends an sends an InvoiceInvoice along with the along with the product.product.
Sounds like a lot, right?Sounds like a lot, right?Not really. These forms are Not really. These forms are
usually created using templates usually created using templates (preformatted documents.) So (preformatted documents.) So all an employee has to do is fill all an employee has to do is fill out the form.out the form.
Let’s begin with Purchase Let’s begin with Purchase Requisitions.Requisitions.
Purchase RequisitionsPurchase Requisitions
Purchase RequisitionPurchase Requisition A form to be completed by A form to be completed by
individuals individuals within a business within a business to request that items or services to request that items or services be purchased. be purchased.
Employee Purchasing Department
Purchase RequisitionPurchase RequisitionView the MS Office Purchase View the MS Office Purchase
Requisition Templates belowRequisition Templates below Sample 1Sample 1 Sample 2Sample 2 Sample 3Sample 3
Purchase RequisitionPurchase Requisition Company Company
informationinformation Vendor Vendor
informationinformation Date and Date and
ordering ordering informationinformation
Item Item informationinformation
SignaturesSignatures
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Video Explanation
Purchase RequisitionPurchase Requisition Catalogue No or Item No of Catalogue No or Item No of
productproduct Qty—how many to purchaseQty—how many to purchase Description—written Description—written
description of productdescription of product
Purchase RequisitionPurchase Requisition Unit Price—Price per itemUnit Price—Price per item Total Amt—Qty X PriceTotal Amt—Qty X Price Account number or Account number or
department for billingdepartment for billing
Purchase RequisitionPurchase Requisition Order Total is the total Order Total is the total
of all items requested on of all items requested on the requisitionthe requisition
Purchase OrdersPurchase OrdersView the MS Office Purchase View the MS Office Purchase
Order Templates belowOrder Templates below Sample 1Sample 1 Sample 2Sample 2 Sample 3Sample 3
Purchase OrdersPurchase Orders Company Company
informationinformation Vendor Vendor
informationinformation Date and Date and
ordering ordering informationinformation
Item Item informationinformation
SignaturesSignatures Video Explanation
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InvoiceInvoice
InvoiceInvoice A form that the seller/supplier
completes and sends to the buyer during the month indicating how much is owed for items bought or services rendered and the due date for payment/payment terms.
Seller Buyer
InvoicesInvoicesView the MS Office Invoice View the MS Office Invoice
Templates belowTemplates below Sample 1Sample 1 Sample 2Sample 2 Sample 3Sample 3
InvoicesInvoices Company Company
informationinformation Customer Customer
informationinformation Date and Date and
ordering ordering informationinformation
Item Item informationinformation
CommentsComments
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Video Explanation
Payment Terms ExplainedPayment Terms Explained Example: 5/10, n/30, means the
buyer can take a 5% discount on the purchase price if the invoice is paid within 10 days. However, if not paid early, the entire amount owed (the “net”, represented by the “n”) must be paid within 30 days of the invoice date. Late payments may result in additional charges being assessed to the buyer.
ProcessProcess
Purchase Requisition
Invoiceand product
Purchase Order
You