PURCHASING AND RECEIVING Flashcards
The first decision that needs to be made in purchasing is determining who will do it
The Purchaser
The person responsible for purchasing goods for an operation
Purchaser/Buyer
Characteristics of an Ideal Purchaser
- Punctual
- Reliable
- Honest
- Trustworthy
- Knowledgeable in mathematical concepts and product specifications
Responsibilities of a Purchaser
- Coordination
- Supplier relations
- Documentation
A primary control used throughout the purchasing, receiving, and accounts payable process.
Purchase order form
is created and developed by the buyer to meet the organization’s needs and will be sent to the supplier or seller.
Purchase order form
Serves as the receiving copy and proof of receipt.
Delivery receipt/note
The delivery receipt usually has three (3) copies
- for supplier
- for receiver or buyer
- for accounting department
A bill that accompanies the delivery of goods to determine the correct amount to pay the supplier.
invoice or statement of account
it is created by purchaser. List of items to be ordered to supplier or seller.
Purchase Order
created by supplier to give copies to buyer. To serve as proof of delivery or proof what actual goods are delivered and received
Delivery Receipt
Issued by the supplier to the buyer. To determine the correct amount to be paid to the supplier or seller.
SOA
