[Determined CPA]

I’m studying the controls for purchases and cannot get my brain to understand the differences between a requisition and a purchase order. can someone please explain to me? thank you!

A - 75
B - 78 God is good.
F - 77 Answered prayers.
R - 84! Done!!

Paperwork sent - waiting for license!!
Still on a cloud and in shock. Through God, all things will happen.

[stoleway]

I will give you an example….

Say you work for a company and you want to buy something because you are out of stock, you will create a requisition which will be forwarded to the purchasing or procurement department.

Purchasing department will review your requisition , approve and issue out a purchase order.

Copy of the purchase order will be sent to the vendor or customer.

Customer will review the purchase order and send you the goods.

Receiving department will receive these goods from the vendor and record the qty received

I hope this is not too much info.

REG -63│ 84!!
BEC- 59│70│ 71 │78!
AUD- 75!
FAR- 87!

Mass-CPA

[stoleway]

I will give you an example….

Say you work for a company and you want to buy something because you are out of stock, you will create a requisition which will be forwarded to the purchasing or procurement department.

Purchasing department will review your requisition , approve and issue out a purchase order.

Copy of the purchase order will be sent to the vendor or customer.

Customer will review the purchase order and send you the goods.

Receiving department will receive these goods from the vendor and record the qty received

I hope this is not too much info.

REG -63│ 84!!
BEC- 59│70│ 71 │78!
AUD- 75!
FAR- 87!

Mass-CPA

[Anonymous]

what stoleway said was correct.

i remember it like this:

requisition is used internally by someone needing something

purchase order is the document that is issued to an external party for the order

[Anonymous]

what stoleway said was correct.

i remember it like this:

requisition is used internally by someone needing something

purchase order is the document that is issued to an external party for the order

[Determined CPA]

That helps so much, thank you both!! And stoleway, the more info you can give, the better! thank you!!

A - 75
B - 78 God is good.
F - 77 Answered prayers.
R - 84! Done!!

Paperwork sent - waiting for license!!
Still on a cloud and in shock. Through God, all things will happen.

[Determined CPA]

That helps so much, thank you both!! And stoleway, the more info you can give, the better! thank you!!

A - 75
B - 78 God is good.
F - 77 Answered prayers.
R - 84! Done!!

Paperwork sent - waiting for license!!
Still on a cloud and in shock. Through God, all things will happen.

[musicamor]

Please note: a Purchase order is never given TO a customer. It is given TO a Vendor.

Texas CPA - licensed in 2012!!!

[musicamor]

Please note: a Purchase order is never given TO a customer. It is given TO a Vendor.

Texas CPA - licensed in 2012!!!

[stoleway]

@musicamor

Thanks for the clarification

Whats the difference btn a vendor and customer ?

REG -63│ 84!!
BEC- 59│70│ 71 │78!
AUD- 75!
FAR- 87!

Mass-CPA

[stoleway]

@musicamor

Thanks for the clarification

Whats the difference btn a vendor and customer ?

REG -63│ 84!!
BEC- 59│70│ 71 │78!
AUD- 75!
FAR- 87!

Mass-CPA

[jfreelov]

Vendor is the company you are purchasing FROM and is who you give a PO to.

Customer is someone purchasing goods from you, and may issue YOU the PO.

FAR - 71, 94
BEC - 91
REG - 51, 88
AUD - 89

[jfreelov]

Vendor is the company you are purchasing FROM and is who you give a PO to.

Customer is someone purchasing goods from you, and may issue YOU the PO.

FAR - 71, 94
BEC - 91
REG - 51, 88
AUD - 89

[stoleway]

@jfreelov

awesome! Thank you.

REG -63│ 84!!
BEC- 59│70│ 71 │78!
AUD- 75!
FAR- 87!

Mass-CPA

[stoleway]

@jfreelov

awesome! Thank you.

REG -63│ 84!!
BEC- 59│70│ 71 │78!
AUD- 75!
FAR- 87!

Mass-CPA

[Author]

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