{"id":4406,"date":"2013-09-06T06:47:08","date_gmt":"2013-09-06T04:47:08","guid":{"rendered":"http:\/\/www.officetodo.com\/public\/?p=4406"},"modified":"2013-09-01T06:47:54","modified_gmt":"2013-09-01T04:47:54","slug":"a-purchase-order-in-a-nutshell","status":"publish","type":"post","link":"http:\/\/www.officetodo.com\/public\/a-purchase-order-in-a-nutshell\/","title":{"rendered":"A purchase order in a nutshell"},"content":{"rendered":"<p><span style=\"color: #000000;\"><span style=\"font-family: 'Palatino Linotype';\">A purchase order or a \u201cPO\u201d in short stands for a process before the purchase transaction itself. It is one thing to make a purchase, but thinking a few steps before the act itself is what the PO is about.<\/span><\/span><\/p>\n<p><span style=\"color: #000000;\"><span style=\"font-family: 'Palatino Linotype';\">A purchase order is either a procedure in place in your business (or one you can implement) or it\u2019s at least an idea of what you may want to consider before making the transaction. It includes:\u00a0<!--more--><\/span><\/span><\/p>\n<p><span style=\"color: #000000;\">o\u00a0\u00a0\u00a0\u00a0<span style=\"font-family: 'Palatino Linotype';\">Defining the \u201cneed\u201d for the purchase and reasoning behind making the expense (or investment if we consider buying assets). I think it\u2019s always good to take a step back and consider twice why we really want to make the purchase (unless it\u2019s buying everyday goods and services);<\/span><\/span><\/p>\n<p><span style=\"color: #000000;\">o\u00a0\u00a0\u00a0\u00a0<span style=\"font-family: 'Palatino Linotype';\">Having price estimations if applicable, i.e. for bigger investments asking price offers (and possibly also conditions if applicable) from potential suppliers;<\/span><\/span><\/p>\n<p><span style=\"color: #000000;\">o\u00a0\u00a0\u00a0\u00a0<span style=\"font-family: 'Palatino Linotype';\">Getting proper approval from respective people responsible for types of expenses;<\/span><\/span><\/p>\n<p><span style=\"color: #000000;\">o\u00a0\u00a0\u00a0\u00a0<span style=\"font-family: 'Palatino Linotype';\">Knowing your expenses that your company potentially will incur over the coming period(s).<\/span><\/span><\/p>\n<p><span style=\"color: #000000;\"><span style=\"font-family: 'Palatino Linotype';\">The last point is especially important when it comes to accruals and we will explain it later on. So essentially in a nutshell a purchase order is a proposal for a transaction that gives an outsider an idea of why we need it, how much it will cost for us and reflects the respective authorization.<\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A purchase order or a \u201cPO\u201d in short stands for a process before the purchase transaction itself. It is one thing to make a purchase, but thinking a few steps before the act itself is what the PO is about. A purchase order is either a procedure in place in your business (or one you [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26,80],"tags":[],"class_list":["post-4406","post","type-post","status-publish","format-standard","hentry","category-2-processes","category-2-10-purchases-and-payables"],"aioseo_notices":[],"_links":{"self":[{"href":"http:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/posts\/4406","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/comments?post=4406"}],"version-history":[{"count":1,"href":"http:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/posts\/4406\/revisions"}],"predecessor-version":[{"id":4407,"href":"http:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/posts\/4406\/revisions\/4407"}],"wp:attachment":[{"href":"http:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/media?parent=4406"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/categories?post=4406"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/tags?post=4406"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}