RedTeam 3. Buyoit Commitment Flashcards
What is a BUYOUT COMMITMENT?
Buyout Commitments are official documents such as Purchase Orders, Task Orders, Labor Authorizations, Equipment Requests and Expense Authorizations, that guarantee work or material, and/or authorize labor, purchases, and outline terms and agreements for work or material items. Commitments are issued to Vendors when purchasing material or labor for a job, and can be created under the Workorder’s Buyout tab.
How would you locate a Buyout Commitment?
Example: You are trying to locate a specific Purchase Order, but do not know what project or Workorder the P.O. is associated with. However, you do know the Vendor, so you can check the Orders tab under that Vendor and filter through a log that includes the Workorder and Order numbers, Workorder name, subject, status, amount, etc.
How do you close a Buyout Commitment? (not close the order, but close the information page you are looking at)
The Orders tab is the easiest and fastest way to close multiple Orders (Buyout Commitments) associated with a single Vendor. Use the checkboxes to select one or more Commitments from the list. The “Close Commitments” button will appear when a Commitment is selected. Once closed, the Commitment is removed from the list.
How do you view a Vendor Commitment?
Buyout Commitments such as Purchase Orders, Task Orders, Labor Authorizations, Equipment Requests and Expense Authorizations, are managed under the Buyout tab of a particular Workorder, but they may also be viewed under the Orders tab of the associated Vendor. To view a list of Buyout Commitments for a Vendor, navigate to the Orders tab.
