Purchase requisition
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As part of an organization's internal financial controls, the accounting department may institute a purchase requisition process to help manage requests for purchases. Requests for the creation of purchase of goods and services are documented and routed for approval within the organization and then delivered to the accounting group.
Typically an accounting staff member is assigned responsibility for purchase order management, referred to commonly as the PO (purchase order) Coordinator.
Purchase requests are tracked against both internal departmental budgets as well as general ledger (GL) categories.
[edit] Structure
A purchase requisition typically contains vendor information, requested product or service information date, department, delivery information, and often also budget management information.
Purchase requisitions may also be managed in accounting software, or add-on software solution components.
