Purchase Orders
Document updated on 2024/01/29
A Purchase Order (PO) by definition is a formal document issued by a buyer to a seller, indicating the types, quantities, and agreed prices for products or services. It serves as a legally binding contract between the buyer and the seller, outlining the specific terms and conditions of the transaction.
In the context of Frank, a Purchase Order is a crucial element in the procurement process. Users can create and manage purchase orders within the software, streamlining the ordering process and providing a clear record of transactions.
Using Frank's Purchase Order functionality ensures accuracy, transparency, and efficiency in the procurement workflow, facilitating smooth communication between buyers and suppliers.
Purchase Orders can be found in the Main Menu under Office Life
From the Console you can monitor the status of the different Purchase Orders generated.
To create a new PO, simply go to the button on the up left corner and fill in the modal following the steps on screen.
Once the PO is created, the Specialist will get an email from Frank alerting that a new PO is ready for approval.
The Specialist can approve or reject the PO. In either case, the Applicant will get an email alert. In case the PO is approved, an automatic email will be generated to Accounting and Finance so they can proceed with the payment when appropriate.
Some services or products are requested to be pre-paid (i.e: plane tickets), others are paid after the service is provided or products arrive.
In the case of pre-paid services or products, the Applicant will get an email when the PO is paid and has to mark it as Received.
When the Applicant gets the product/service before the payment, has also to mark the PO as Received. Then, Accounting and Finance will pay.
After marked as Received, the Applicant can mark the PO as Approved (if everything is according to the PO request) or Rejected (if the product/service is not OK). When the PO is in Rejected status, remains open until a new product/service is approved.
We hope this information is helpful. If you have questions or suggestions, please contact P&P at support@frankcollaboration.com