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MAS > 4.2 Purchase Requisitions & Request for Quotations > Flashcards

4.2 Purchase Requisitions & Request for Quotations Flashcards

1
Q

What is the Purchase Requisitions application used for?

A

Create purchase requisitions for item, supplies, or services

Create purchase orders from purchase requisitions

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2
Q

What is a purchase requisition (PR)?

A

Written request issued internally to a purchasing department to order items or services

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3
Q

What occurs when a PR is created?

A

sets off a chain reaction of activities within the purchasing process

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4
Q

Internal PRs

A

Request the transfer of materials from another company storeroom

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5
Q

External PRs

A

Request the purchase of necessary materials from an outside vendor which can be specified

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6
Q

Is a Vendor always required on a PR?

A

No

See: Internal and External PR

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7
Q

PR statuses (list)

A

WAPPR - Waiting for Approval
APPR - Approved
CLOSE - Closed
CAN - Canceled

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8
Q

WAPPR status (PR)

A

Status that a purchase requisition is assigned when it is created

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9
Q

Are all fields editable when a PR is in WAPPR status?

A

No - some default fields are read-only

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10
Q

True/False: APPR status is always required on a PR

A

False: APPR status is available only if the business rules require approvals

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11
Q

Describe default configuration as pertaining to APPR status (PR)

A

Does not require approvals for purchase requisitions and purchase requisition line items that you transfer to purchase requisitions

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12
Q

Requirement to approve a PR (change status to APPR)

A

Must have a monetary approval limit equal to or greater than the total cost of the purchase order (requisition?)

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13
Q

How are approval limits set (i.e. for approving PR)?

A

System administrator sets approval limits for each user

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14
Q

CLOSE status (PR)

A

Indicates that all the purchase requisitions line items have been assigned to one or more purchase orders

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15
Q

Editability in CLOSE status (PR)

A

All fields read-only
Record can no longer be modified

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16
Q

What prevents purchase requisitions from being closed with pending line items to be assigned?

A

if you try to close a purchase requisition and a line item has not yet been assigned, a message is displayed

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17
Q

Customizable functionality related to closing PRs

A

System administrator can set the system to automatically close purchase requisitions once you transfer all the line items to purchase orders, requests for quotations, or contracts

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18
Q

Record editability in CAN (Canceled) status (PR)

A

All fields are read only, and a record can no longer be modified

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19
Q

When is CAN status available on a PR?

A
  • Current purchase requisition status is Approved (APPR), and
  • None of its line items have been assigned to a purchase order
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20
Q

What can PR lines be?

A

Item
Material
Service
Standard Service
Tool

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21
Q

Default precedence for applying tax codes on a PR, PO, or Invoice

A

most accurate location to least:

Ship To Address
Company
Item/Vendor
Item/Organization

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22
Q

What is the Request for Quotations application used for?

A
  • Create request for quotations
  • Store the quotations
23
Q

What are the quotes used for (RFQs)?

A

The best vendor can be assessed and chosen

24
Q

Who is the request for quotation (RFQ) sent to?

A

1 or more potential vendors

25
Q

Requirement in order to list a vendor on an RFQ record

A

The vendor must have a corresponding record in the Companies application

26
Q

What can be specified in an RFQ?

A
  • Line items
  • required delivery dates
  • other conditions that the vendor should meet
27
Q

Process to complete an RFQ

A
  1. Copy PR lines to RFQ
  2. Specify Vendors
  3. Record Quotations
  4. Award RFQ
  5. Create PO
28
Q

Copy PR lines to RFQ

Describe this step of RFQ creation

When is this step done (after what), what is done, and purpose?

A

When: Once a purchase request has been made
What is done: PR lines can be copied onto an RFQ
Why: to send to the vendors for quotes

29
Q

Copy PR lines to RFQ

How is this done?

Hint: what action is used?

A

This can be done easily through the action Copy PR Line Items to RFQ

30
Q

Specify Vendors

Describe this step of RFQ creation

When is it done? How?

A

When: Once the RFQ lines are created
What: Vendors that the user wishes to receive quotations from
How: Can be added to the Vendors tab of the RFQ application

31
Q

Record Quotations

Describe this step of the RFQ creation process

When is it done? What is done? How?

A

When: Once quotations are received from the vendors
What: Can be recorded from the Quotations tab
How: Selecting the vendor and adding the rows in the table below

32
Q

Record Quotations

Describe how to undo actions here

A

Lines on the Quotations tab can be deleted by clicking the garbage bin button on the row

33
Q

Award RFQ

Describe this step of RFQ creation

When is this done? What is done? How?

A

When: Once a vendor has been chosen
What: The RFQ line can be awarded
How: By using the Awarded checkbox on each line from the Quotations for Vendor table

34
Q

Create PO

Describe this step of the RFQ creation process

When is this done? What is done? How?

A

When: Once a quotation line has been awarded
What: A purchase order can be created
How: From the Vendor line details from the Quotations tab, by selecting the Create PO button

35
Q

Requirements to create PO from RFQ

A

RFQ must be in SENT or COMP status

36
Q

Request for Quotations

In what scenarios can quotation lines not be deleted?

A
  • If the quotation lines have been copied to a purchase order
  • If the RFQ has a closed status

Either or both

37
Q

List the RFQ statuses

A

INPRG - In Progress
READY - Ready to be Sent
SENT - Sent to the Vendor
COMP - Completed
CANCEL - Canceled
CLOSE - Closed

38
Q

Default status of RFQ?

A

INPRG - In Progress

39
Q

RFQ must remain in INPRG status until …

A

All the information and line items have been specified

40
Q

What can and can’t be modified when an RFQ is in INPRG status?

A

all tabs and fields can be modified except for the Quotation Lines table

41
Q

What status can an RFQ be changed to, for editing? With what restrictions?

A

INPRG

Always able to make this status change except for when the RFQ is in COMP or CLOSE status

42
Q

Request for Quotation (RFQ) Statuses

READY - Ready to be Sent

What does this indicate?

A

Indicates that the RFQ is ready to be sent to vendors

43
Q

Request for Quotation (RFQ) Statuses

Editability in READY status

A

Read-only

44
Q

Request for Quotation (RFQ) Statuses

SENT - Sent to the Vendor

What does this indicate?

A

Indicates that the RFQ has been sent to the vendors

45
Q

Request for Quotation (RFQ) Statuses

Editability in SENT status

A

Read-only tabs:
- RFQ
- RFQ Lines

Tabs that can be modified:
- Vendors
- Quotations
- Terms and Conditions

46
Q

Request for Quotation (RFQ) Statuses

COMP (Completed)

A

Indicates that all quotations have been received

47
Q

Request for Quotation (RFQ) Statuses

Editability in COMP status

A

Can be modified:
- Quotation Lines
- Terms and Conditions

Read-only:
All other tabs and fields

48
Q

Request for Quotation (RFQ) Statuses

CANCEL (Canceled)

A

Indicates a cancelled RFQ

49
Q

What is required for an RFQ to be able to be canceled?

A

Only if no quotations have been awarded

50
Q

Request for Quotation (RFQ) Statuses

When is CANCEL (Cancel) not available?

A

After a quotation has been converted to a PO

51
Q

In what statuses can an RFQ record not be modified?

A

CANCEL - Canceled
CLOSE - Closed

52
Q

Request for Quotation (RFQ) Statuses

CLOSE (Closed)

A

Indicates a closed RFQ

53
Q

Request for Quotation (RFQ) Statuses

Prerequisites to change status to CLOSE (Closed)

A

Quotation lines must be awarded

MAS (50 decks)

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