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Purchase and Inventory · 14 min · 18–20Purchase: RFQs, purchase orders and vendor bills
Vendors and vendor pricelists, RFQs, approvals, purchase agreements, receipts and bill control.
In this lesson
- Vendors, RFQs and purchase orders
- Approvals, bills and three-way matching
- Purchase reporting
Key points
- Vendor prices and lead times on product.supplierinfo
- RFQ → PO → receipt; agreements for blankets and tenders
- Two-level approval above an amount
- Bill control on received quantities enforces three-way matching
Real-world example
A hospital in Enugu let any storekeeper raise POs of any size. Two-level approval above ₦500,000, bill control on received quantities and purchase agreements with its three main pharmaceutical suppliers cut emergency buys at inflated prices by 60% in a quarter.
Questions and answers
Where is a vendor's lead time stored?
On the product's purchase tab, vendor line (product.supplierinfo).
What report do accountants use for goods received not billed?
Purchase/receipts not invoiced (bills to receive / accrual views).