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An overview of the purchasing cycle is given as follows:

  • Requisition - Raising an internal purchase requisition
  • Supplier Selection - Quotations, Contracts, Pre-Suppliers
  • Purchase Order - Raise purchase order
  • Receipt Goods/Services - Receive Goods and Services
  • Payment to Supplier - Purchase Invoice Payment

Although raising a purchase order creates a commitment on UFS, once goods/services have been received then this becomes a legal obligation to pay the supplier. Prior to the month-end we should establish that any incomplete purchase orders are actioned and closed.

Quarter End Guidance

  • Each quarter-end run Open Purchase Orders Report (UFS) to identify incomplete purchase orders.

  • Close purchase orders by receiving the goods, matching against the invoice, cancelling the order or manually closing the order.