Purchasing Process
The purchasing process begins with the creation of a Purchase Order (PO). Once the PO is created, it must go through an approval process. After approval, the goods or services are received, followed by the issuance of an invoice from the supplier. The final step is the payment of the invoice, completing the purchasing cycle.
1. Create your Purchase Order
This is only an order process that will be sent to your supplier or reviewed by the admin.
- Tutorial: Creation of Purchase Order: 🔗 Create Purchase Order
2. Approving of Purchase Order
Approval of purchase orders by the admin is essential. This process confirms that the order has been placed, approved, and is ready to be sent to your supplier.
- Tutorial: POS Approve Purchase Orders: 🔗POS Approve Purchase Orders
3. Receiving of Stocks
This step occurs after the purchase order has been approved and the supplier has delivered the goods. The receiving team inspects and verifies that the delivered items match the purchase order in terms of quantity and quality. Any discrepancies or damages are recorded and reported for further action.
- Tutorial: Approve Purchase Orders: 🔗POS Approve Purchase Orders
4. Supplier Invoice
After the goods or services have been delivered, the supplier issues an invoice. This document outlines the items provided, their costs, any applicable taxes, and the total amount due. The supplier invoice serves as a formal request for payment and is matched against the purchase order and receiving report before processing the payment.
- Tutorial: Supplier Invoices: 🔗POS Supplier Invoices
5. Supplier Payments
Once the supplier’s invoice has been reviewed and matched with the purchase order and receiving report, the payment is processed. This step ensures that the supplier is paid according to the agreed terms, such as within a specific number of days after invoice receipt. Accurate and timely payments help maintain good supplier relationships and ensure a smooth procurement process.
- Tutorial: Payments to Suppliers: 🔗POS Payments to Suppliers