Purchasing documents
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Purchasing documents Presentation Transcript

  • 1. Purchasing Documents Module 5 Lesson 5
  • 2. What are purchasing documents?
    • In a business, when you want to purchase something, there is usually a procedure in place for making those purchases. The purpose of having a procedure is to justify purchases, to account for money spent and goods received. This procedure involves 3 different documents.
  • 3. What is the procedure?
    • Step 1: Complete a Purchase Requisition and submit to the correct person/department within your company
    • Step 2: If approved, a Purchase Order is issued and products are purchased
    • Step 3: The seller creates and sends an Invoice along with the product.
  • 4. Sounds like a lot, right?
    • Not really. These forms are usually created using templates (preformatted documents.) So all an employee has to do is fill out the form.
    • Let’s begin with Purchase Requisitions.
  • 5. Purchase Requisitions
  • 6. Purchase Requisition
    • A form to be completed by individuals within a business to request that items or services be purchased.
    Employee Purchasing Department
  • 7. Purchase Requisition
    • View the MS Office Purchase Requisition Templates below
    • Sample 1
    • Sample 2
    • Sample 3
  • 8. Purchase Requisition
    • Company information
    • Vendor information
    • Date and ordering information
    • Item information
    • Signatures
    A new web browser window will open for you to view the video. Video Explanation
  • 9. Purchase Requisition
    • Catalogue No or Item No of product
    • Qty—how many to purchase
    • Description—written description of product
  • 10. Purchase Requisition
    • Unit Price—Price per item
    • Total Amt—Qty X Price
    • Account number or department for billing
  • 11. Purchase Requisition
    • Order Total is the total of all items requested on the requisition
  • 12. Purchase Orders
    • View the MS Office Purchase Order Templates below
    • Sample 1
    • Sample 2
    • Sample 3
  • 13. Purchase Orders
    • Company information
    • Vendor information
    • Date and ordering information
    • Item information
    • Signatures
    Video Explanation A new web browser window will open for you to view the video.
  • 14. Invoice
  • 15. Invoice
    • 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
  • 16. Invoices
    • View the MS Office Invoice Templates below
    • Sample 1
    • Sample 2
    • Sample 3
  • 17. Invoices
    • Company information
    • Customer information
    • Date and ordering information
    • Item information
    • Comments
    A new web browser window will open for you to view the video. Video Explanation
  • 18. Payment 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.
  • 19. Process Purchase Requisition Invoice and product Purchase Order You
  • 20.