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.
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.
Process Purchase Requisition Invoice and product Purchase Order You