Netsuite - PO Policy (External) Flashcards
1
Q
The Purchase Order Policy requires additional levels of approval prior to purchase. Which purchase types would require advance approval? (3)
A
- Capital purchases
- Large data center infrastructure purchases
- Large license or service agreement purchases
2
Q
Unless the Vendor requires it, Do NOT complete a Purchase Request for which types of purchases? (2)
A
- Administrative expenses - Parking, food, or office supplies
- Small data center purchases, computer supplies, or software subscriptions
3
Q
Define what a Fixed Asset / Capital Purchase is ? (4 aspects)
A
A fixed asset is
* a tangible item
* provides future economic value to the business
* has a useful life over one year
* $1,000 per unit cost threshold (rule of thumb, not a hard rule)
4
Q
What are some examples of Fixed Assets? (3)
A
- Servers,
- Network Equipment,
- Laptops
5
Q
What are the criteria for requesting Specific Non-Capital Purchases? (2 rules of thumb)
A
- Large data center infrastructure purchases $1,000+ (rule of thumb)
- License agreements and service contracts - $5,000+ (rule of thumb)
