Prior to the month end, establish that any incomplete requisitions and purchase orders are actioned. Best practice dictates that this should be done regularly, throughout the month.
Purchasing checklist
- Run the Open Purchase Orders Report (UFS) to identify incomplete and old purchase orders, and action appropriately.
- Run the Purchasing Requisition Status report and resolve incomplete requisitions appropriately.
- If required, manually close purchase order. NOTE: Do not Finally Close purchase orders until all goods and invoices have been received and processed. Refer to Finance Training, Guidance and FAQs, iProcurement: Managing Orders.
Finance Business Partners and Institution heads of finance must oversee and champion effective and efficient procurement and purchasing practice and financial controls across the institutions in the School in conjunction with the Head of Group Procurement. They must support Institutions in regularly carrying out checks of the compliance of purchases with policy, including the use of Purchase Orders, and confirming these are complete.
Latest version 21 December 2024