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Creating a Requisition

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  1. 1. +Entering a Requisition into SOARFIN (PeopleSoft Software) By Vanessa McCullum
  2. 2. + Requisitions On the campus of The University of Southern Mississippi, purchases are made by individual departments mainly with departmental procurement cards or requisitions. This presentation will focus on requisitions.
  3. 3. + PeopleSoft Software The software application, a financial management system, used to create requisitions is called PeopleSoft by Oracle®. This software is used for financial control and reporting.
  4. 4. + What is a requisition?  A requisition is the means by which a buyer is able to purchase goods.  Goods can be purchased without immediate payment.  Once goods are received by the purchaser, then payment is sent to the vendor.  A requisition is a customer’s IOU.
  5. 5. + Details of a Requisition  Vendor information  Description of goods  Price of goods  Quantity of goods  Account(s) to be charged  Requisition requester
  6. 6. + Submitting a Requisition  One must be trained to use the PeopleSoft software to enter a requisition.  Only authorized personnel can enter a requisition  Requisitions are entered by budget authorities, administrative assistants, and secretaries
  7. 7. + When the requisition is created  Once the requisition has been created, it has to be approved by the purchasing department.  Once the requisition has been approved, it then becomes a purchase order.  The purchase order is then sent to the vendor so the order can be fulfilled.
  8. 8. + Requisition / PO Fulfilled  Goods are sent to the purchaser.  The requisition/PO has to be received/released in the PeopleSoft system in order for the vendor to be paid.  Once the process of receiving and releasing of the purchase order, the check is mailed to the vendor by the accounts payable office.
  9. 9. + That’s the Process in a nutshell! The End
  10. 10. + Images Credit