Overview

This article outlines the steps to create and manage Purchase Orders in iVendNext, to help retailers streamline the procurement process.

1. What is a Purchase Order?

A Purchase Order is a legally binding document that formalizes the agreement between your business and a supplier. It specifies the items to be purchased, their quantities, prices, and the terms of the transaction. Purchase Orders are essential for maintaining accurate records, tracking orders, and managing supplier relationships.

Key Components of a Purchase Order:

• Supplier Details: The name and contact information of the supplier.

• Item Details: The items to be purchased, including quantities, rates, and descriptions.

• Terms and Conditions: The terms of the transaction, including payment terms, delivery dates, and warranties.

• Taxes and Charges: Any additional costs, such as shipping, insurance, or taxes.

2. How to Create a Purchase Order

Creating a Purchase Order in iVendNext is a straightforward process. Follow these steps to create a new Purchase Order:

Step 1: Navigate to the Purchase Order Section

1. Go to Home > Buying > Purchase Order.

2. Click on the Add Purchase Order button to open the Purchase Order Creation screen.

Step 2: Fill in the Details

1. Select the Supplier: Choose the supplier from whom you are purchasing the items.

2. Add Items: Enter the item codes, quantities, and rates. The system will fetch the item details from the Item Master.

3. Set Terms: Enter the terms of the transaction, including payment terms, delivery dates, and any warranties.

4. Add Taxes and Charges: If applicable, add any additional taxes or charges, such as shipping or insurance.

Step 3: Save and Submit

1. Once all the details are filled in, click the Save button to create the Purchase Order.

2. After reviewing the details, click Submit to finalize the Purchase Order.

3. Managing Purchase Orders

Once a Purchase Order is created, it can be managed effectively using iVendNext. Here’s how you can manage Purchase Orders:

3.1 Tracking Purchase Orders

iVendNext allows you to track the status of Purchase Orders, ensuring that you have a clear overview of all your procurement activities.

• Statuses: Purchase Orders can have different statuses, such as Draft, Submitted, Partially Received, Completed, or Closed.

• History: You can view the history of each Purchase Order, including any changes or updates made.

3.2 Receiving Goods Against Purchase Orders

When the supplier delivers the goods, you can create a Purchase Receipt to confirm that the items received match the Purchase Order.

1. Go to Home > Stock > Purchase Receipt.

2. Click on the Add Purchase Receipt button.

3. Select the Purchase Order and enter the received quantities.

4. Save and submit the Purchase Receipt.

3.3 Handling Partial Deliveries

In some cases, suppliers may deliver items in multiple shipments. iVendNext allows you to handle partial deliveries by updating the received quantities in the Purchase Receipt.

1. Open the Purchase Receipt.

2. Enter the quantities received in the current shipment.

3. Save and submit the Purchase Receipt. The system will update the remaining quantities in the Purchase Order.

3.4 Closing Purchase Orders

Once all items have been received, you can close the Purchase Order to indicate that the transaction is complete.

1. Open the Purchase Order.

2. Click on the Close button.

3. The system will update the status of the Purchase Order to "Closed."

4. Key Features of Purchase Orders

4.1 Taxes and Charges

If your supplier charges additional taxes or fees (e.g., shipping, insurance), you can add these to the Purchase Order. This ensures that you have a complete understanding of the total cost.

• Tax Templates: You can use tax templates to automatically apply the correct taxes to the Purchase Order.

• Charges: Additional charges, such as shipping or handling fees, can be added manually.

4.2 Terms and Conditions

Purchase Orders can include detailed terms and conditions, such as:

• Payment Terms: Specify the payment conditions, including due dates and discounts for early payment.

• Warranties: Include any guarantees or warranties provided by the supplier.

• Delivery Terms: Specify the delivery conditions, including the expected delivery date and shipping method.

4.3 Linking to Material Requests

Purchase Orders can be linked to Material Requests, ensuring that the order is aligned with the specific needs of your organization.

1. Open the Material Request.

2. Click on the Create Purchase Order button.

3. The system will automatically populate the item details from the Material Request.