What is a Purchase Requisition and Why It Is Important for Your Business
We have written many articles on purchase orders, but one key term that causes confusion and mixup is purchase requisitions. This article will highlight the differences between purchase requisitions and purchase orders, and why purchase requisitions are imperative in your organization. Purchase Requisition vs Purchase Order – What is the Difference? Purchase requisitions are a document used when an employee needs to make a purchase or an order request on behalf of their company. It is a document that is used to inform department managers or the purchasing officer of the decision so that the purchasing department can start the purchasing process. The finance team will also use this document to coordinate reporting procedures with the accounting department as well. Purchase orders are issued by the purchasing department after a purchase requisition has been made and passed the approval process. They are documents sent from a buyer to a supplier with a request for an order, and ar...
