A purchase requisition form, also called a purchase order, is an essential part of doing business, because most companies won't accept or place an order without using a purchase requisition form.
Businesses can find software right on the internet that allows the company to create a purchase requisition form that can be printed out and used person to person or used online for a paperless purchasing experience. Using a purchase requisition form helps to protect both the buyer and the seller because all the pertinent information about the sale, such as pricing offered and amount purchased, are included for future reference. Neither party can claim a difference in price or quantity promised when the facts are on the original purchase requisition form in black and white.
When creating your own purchase requisition form, it's important to include several elements of vital information. There should be a purchase requisition number which can be used as an I.D. to track the status of the order. In addition to the name, address and contact information (phone number, e-mail and website address) of the supplier, there should be space provided for the name, address and contact information of the purchaser, including the name and phone number and/or e-mail address of the contact person filling out the form. This will simplify things should the purchasing department need to get a hold of someone at the buyer's place of business to ask a question or provide some information while the order is being processed.
The purchase requisition form should also have a place to note the buyer's account number. This indicates that a proper credit check has been performed and that the purchaser has valid and current financial information on file in order to make a purchase request.
An important part of a purchase requisition form is the area where the items, quantity and pricing are listed. This section can get very detailed if there are a variety of sizes or colors of items offered for purchase. A purchase requisition form can also make note of a catalogue page where the item is listed if the buyer is making their purchase decisions based on a printed catalogue provided by your company.
The unit price of each item should be noted, along with the total price. This will avoid any misunderstandings in the future about the total amount owed if multiple units of the same item are purchased.
The terms of the sale should also be noted on a purchase requisition form, such as cash upon delivery, the amount of credit extended and credit terms, or any other terms that both buyer and seller have agreed to honor.
Last but not least on the purchase requisition form should be the name and signature of the person authorized to fill out the form, the same person to contact regarding any questions about information filled out on the form.