Module - Purchase Order

1 Overview

The Purchase Order (PO) Management module allows for the management of Purchase Order requests, approvals and tracking. Where significant purchases are to be made by a business a purchase order management approach allows for sense checking of purchases by management.

2 Definition

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A buyer-generated document that authorizes a purchase transaction. When accepted by the seller, it becomes a contract binding on both parties.

A purchase order sets forth the descriptions, quantities, prices, discounts, payment terms, date of performance or shipment, other associated terms and conditions, and identifies a specific seller. Also called order.

http://www.businessdictionary.com/definition/purchase-order.html

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