Manage All Vendors & Purchase Orders In One Place

A purchase order contains essential information to formalize a transaction between a buyer and a seller.

• Buyer and Seller Details: Names and contact information of the buyer and seller involved in the transaction.
• Order Number and Date: A unique number for the purchase order and the date it was issued.
• Item Description: Detailed description of the purchased goods or services.
• Quantity: The quantity or volume of each item being purchased.
• Agreed Price: The negotiated price per unit for each item.
• Total Cost: The total cost for each item, obtained by multiplying the quantity by the agreed price.
• Delivery Details: Information about the delivery location, date, and any specific delivery instructions.

Purpose:

• An estimate provides a cost approximation of services/goods before a transaction.
• A purchase order formalizes an actual order for goods or services.

Formality:

• An estimate is not a legally binding document.
• A purchase order is a legally binding contract.

Timing:

• Estimates are created before a transaction.
• Purchase orders are generated during the actual procurement process.

Tracking and recording vendor-related expenses with Invoicera is an easy process:

1. Log in to Invoicera: Access your Invoicera account and navigate to the Vendor & Expense Management section.
2. Create a Vendor Profile: Input vendor details, such as name, contact information, and payment terms, to create a vendor profile.
3. Record Expenses: Enter the expense details, including the amount, date, and description, and assign it to the respective vendor.
4. Categorize Expenses: Categorize your expenses based on predefined entities for better organization. It includes office supplies, utilities, travel, etc.
5. Save and Review: Save the expense entry, and it will be automatically recorded and categorized within Invoicera’s system for easy access and review.