Overview

A Purchase Order is an authorization prepared by a buyer (issuer) to purchase goods or services from a vendor at specified prices. The order may include additional items such as quantities, prices, terms, and shipping instructions.

The Pak Accounting CPO System often replaces the Accounts Payable System as the primary source of purchase journal transactions in the General Ledger. In other cases, CPO and AP co-exist as equal partners in the process of entering purchases into your books. CPO entry gives you the capability to approve purchases and track receipts of goods and services before the vendor’s invoice (AP event) is ever received.

CPO, along with document image scanning, is an ideal solution for companies with employees in locations other than the home office. Purchases can be requested from one location, a manager approved from another location, and accounts payable received in a third location. Purchase Orders scanned bids, scanned receipts, and scanned invoice copies could be reviewed from any location based on security settings.

Features of this module include:

• Non-inventory and inventory purchases.
• Printed POs or e-mail with a PDF version attached.
• Three-way matching of purchases, receipts, and invoices.
• Separation of duties between purchasing agents, supervision approval, receipt of stock or services, and accounts payable matching.
• Multi-user concurrent license, which allows field personnel to interact with office staff without resorting to a paper trail.
• Document scanning of delivery or field tickets and accounts payable invoices.
• Multi-level approval process via user-defined rules. Also, your purchases are approved before ordered.
• Unlimited PO detail with automatic general ledger coding available for inventory parts or non-inventory goods and services.
• Partial PO receipts of goods or services via multiple events. PO can match multiple accounts payable invoices.
• Elimination of duplicate accounts payable entry.
• Oil & Gas Operators support your Authority for Expenditures (AFE) and Joint Interest Billing costs, property, and deck coding.
• Support for Multi-Location Inventory

Setup

1. CPO Options 
2. Account Profile 
3. User Security - PO Module 
4. G/L Part Master
5. Approval Routing - PO Module 

Process

1. Enter - PO Module 
2. Print POs - PO Module 
3. Edit Listing - PO Module 
4. View All - PO Module 
5. Search by Keyword - PO Module 
6. Approval Grid - PO Module 
7. Update Grid - PO Module 
8. Pending Grid - PO Module 

Other

• Order Buyouts/Stock - PO Module 
• Re-Order Rpt by Vendor - PO Module 
• Re-Order Rpt by Part# - PO Module 
• Generate Automatic POs - PO Module 
• Reports - PO Module