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💻 T able of Content      ➤ I ntroduction     ➤  Purchase Orders     ➤  Purchase Agreements      ➤ When to Use a PO and When to Use a Purchase Agreement Introduction When buying any goods for your company, should you use a purchase order or a purchase agreement? To determine this, you need to understand the differences between these two commercial purchasing documents. Purchase orders and purchase agreements are both legal documents used in the purchase of goods.  A purchase agreements is also used in real estate transactions. The document used to purchase services is more often called a contact or service agreement.  Though a purchase order (or PO), and a purchase agreement are both used to make purchases, they operate in different ways. Understanding the differences will help you determine which to use for your business transactions. Purchase Orders A purchase order is an offer to purchase goods. PO is created...

 Supplier Explained Spend Authorized Vs Prospective Supplier Suppliers that participate in sourcing negotiations and qualifications but are not yet allowed to participate in procurement transactions involving financial spend, are known as prospective suppliers. When a prospective supplier is identified for a procurement need, a request is raised to promote the supplier to spend authorized. A spend authorized request for a supplier can be created in one of the following ways: User requests the supplier to be promoted to spend authorized manually on the supplier record by using the promote to spend authorized button from the Edit Supplier page. Initial creation of supplier with the business relationship of spend authorized. The supplier must first be approved through the supplier registration process before the request for spend authorization is sent for approval. Negotiation is awarded to a prospective supplier, a spend authorization request is automatically created. 👇👇 Approvers ...