Purchase Order > Blanket Purchase Order

Blanket purchase orders are purchase agreements entered into with vendors for recurring purchases of a particular inventory item. This type of transaction is normally entered to avail of special prices from the vendor and to secure availability of the inventory items. This also happens the procurement process of fast- moving inventory items; numerous requisitions and approvals of purchase orders of the same inventory items from the same vendor are simplified through the use of blanket purchase orders.

In AccountMate, creating a blanket PO and a regular PO follow the same procedures. Since the blanket PO is availed from one particular vendor only, the procedures in creating the blanket PO is the same as Create PO by Vendor except that Blanket PO number is generated instead of the PO number. Blanket purchase orders are automatically converted into purchase orders when released, thereby enabling you to receive items against the released orders. As part of the control process, a blanket purchase order that goes beyond its "valid until" date can no longer be released.

The Blanket Purchase Order function allows you to establish and authorize orders for a certain quantity of inventory items from a vendor within a specific period of time. It enables your company to lock-in any special prices and/or discounts offered by the vendor. When blanket purchase orders are released, the system automatically converts them into regular purchase orders.

The Release Blanket Purchase Order function authorizes the vendor to ship inventory items against the blanket purchase order. You can also define how long blanket purchase orders are to remain valid in the system. A blanket purchase order that goes beyond its “valid until” date can no longer be released.

You can secure the integrity of data entry by assigning access rights to persons who are permitted to use this function. You can assign access rights to the Blanket Purchase Order function using the Group Access Rights function of the System Administrator module.

After you create a blanket purchase order, you can modify it using the Blanket Purchase Order function.

Blanket Purchase Order

Blanket Purchase Order

See Also