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Printable Purchase Order Template

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Here is a free Purchase Order Template that anyone can easily use. A purchase Order is an important business transaction that almost every business is required to undergo. Unless you already have a Purchase Order or PO designed for your company, you need a professional layout to record purchase orders.  This is a simple yet comprehensive Purchase Order Template that can help anyone create their Purchase Order quickly and effectively.

The purchasing department is the foundation of any business organization because it deals with purchase orders and vendors involved in the purchase deal. It is the responsibility of the purchasing department the successfully deal with vendors by minimizing the costs of purchased goods. It is the responsibility of the purchasing department to screen genuine vendors and track orders at every stage. The quality and performance of the purchasing department can affect the profit margins of a business organization. The purchase department records purchasing transactions using a purchase order. A purchase order is also known as a purchase requisition and serves as a written document between seller and buyer. It contains necessary details like details of products and services, terms and conditions, discounts, etc.

Here is a preview of this Purchase Order Template to help you create your purchase order quickly.

 

Purchase Order Template MS Word 01

Why Purchase Order Is Important?

A purchase order is an important official document, and it is important just because of the following reasons:  

Contains Details of Ordered but Undelivered Goods

Purchase order enables your system to show the ordered but undelivered goods in inward stock. You can easily confirm what is coming, how much is coming and what is the due date of delivery as well as payment. It is important to design purchase orders at the time of booking orders for goods and services. It will keep your record updated and enable you to avoid potential errors.

Record of Financial Commitments

By designing a purchase order, you will get a record of financial obligations that you have to pay at some point. It will help you during auditing and financial accounting reports. A well-managed purchase order record will enable you to see the details of orders you have placed, details of completed orders, and details of pending payments.

Give Empowerment to Your Sales Team

Salespeople are required to keep a complete record of sales and purchasing transactions during a specific period. The purchase order will help you to provide complete information to sales personnel without any delay. It is important to be careful about accurate order placing and delivery dates.

Prevent Over-Purchasing

Without proper records, there are great chances of over-purchasing and to avoid this situation, it is important to have a complete record of purchase orders. Without purchase orders, you may place double orders without any need.

Help You to Match Delivered Goods with Your Order

A purchase order enables the receiver of goods to match it with the actual order placed because the same person doesn’t need to receive the order. It is important to have written records of the purchase orders to let others receive shipments of goods.

Management of Delivered Goods

It is important to account for financial transactions to verify commitment to pay money after the delivery of certain goods. Also, It is important to have a purchase order for each delivered and undelivered transaction. Moreover, It will enable you to put its value in the balanced sheet under “stock received not invoiced”.

Reconciliation of Purchase Invoice

After placing an order for the goods, you often quote a price, or the supplier sends the price list to you on earlier dates. You can include prices in the purchase order to diminish the need for a separate price list. It will enable you to match your purchase invoice with the purchase order without any waste of time.

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