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These notes help in studing for the exams.
prof. derrick
Class Notes
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This 5 page Class Notes was uploaded by DERRICK SHIJOSO on Monday July 25, 2016. The Class Notes belongs to Economics at 1 MDSS-SGSLM-Langley AFB Advanced Education in General Dentistry 12 Months taught by prof. derrick in Summer 2016. Since its upload, it has received 17 views. For similar materials see microeconomics in Business at 1 MDSS-SGSLM-Langley AFB Advanced Education in General Dentistry 12 Months.




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Date Created: 07/25/16
DOCUMENTS USED IN PURCHASING FUNCTION INTODUCTION The term purchasing is the process of procuring supplies and materials or goods and services to be used in day to day activities of organization.All organization whether large or small whether profit making or non profit making require supplies and materials to use in operational activities.To effect purchasing function there are certain documents raised by purchase department in an organization as discussed below; 1 .PURCHASE ORDER-Purchase order is a legal document for all practical purposes and is prepared with great care and in all details so as to help the supplier to supply the materials of right quantity, in right quality and at the right time. It is an order to supplier by the buyer to supply required materials as per quotation submitted by him in accordance with the instruction contained therein. It is just a single document to the supplier. 2.DELIVERY NOTE-It is sent by supplier to the is used by the buyer to check goods without having to make use of the invoice. One copy of the note is left with the seller and the other two copies are sent with goods to the buyer. If the buyer is satisfied with the goods, he sign both copies of the delivery note, keeps the original and the copy is return to the seller. It is usually made in triplicate. 3.PURCHASE REQUISITION-It is submitted to the head of purchase department. It is generaly prepared in triplicates one copy is sent to the purchase department the second to the material control department and the last is retained by the requisition department as a copy for future reference. This document is raised inventory controller to purchase department. The purpose of raising it is for procurement purpose by purchase department 4.GOODS RECEIVED NOTE-This is a document sent by the buyer to the seller to inform him that goods sent have been is usually prepared in duplicate. The original is sent to the seller and the copy retained by the buyer .It contain; date of the document, names and addresses of buyer and seller, corresponding purchase order, details of goods received and date when goods were received. 5.SUPPLIER’S QUOTATION-Raised by the supplier to purchase department .The supplier quote his prices and term and condition of supply of material to the purchase department indicating quality ,quantity, time of delivery, price, discount and other concession. It is a single document from supplier to purchase department in respect to purchase inquiry. 6.PACKING NOTE-When supplier has received purchase order and has sent an acknowledgement note, the goods are packed ready for dispatch. The document used to indicate goods packed is packing note. A copy of this document is packed together with the goods to help the buyer to spot check on the goods when they arrive. Packing note contain quantities of goods packed, brief description and the means of delivery. It is normally made in two copies. It is raised by supplier to the buyer. 7.CONSIGNMENT NOTE-A consignment note is sent when the seller does not use his own means of transport but but hires a transporting company. The transporting company prepares the consignment note and issues it to the seller who completes and signs it, it is then return to the carrier who takes it together with goods to the buyer .On arrival of goods, the buyer signs it as evidence that goods were actually transported. It can be made into three copies for carrier, supplier and the buyer. 3.. 8.PURCHASE INQUIRY- Raised by purchase department to the supplier. the purpose of raising it is to require the supplier to quote his is used to find out prices, quality of materials which can be supplied by different suppliers as detailed therein. It is a single document by the purchase department to the supplier. 9.INVOICE-An invoice is a document sent by a seller to the buyer demanding for payment for the goods delivered. It shows the details of goods sold, that is, quantity, price, and terms and conditions of sale. It request the buyer to make a payment. It is used as a source document in recording the transaction in the books of accounts. Small firms usually prepare only one carbon copy for records. Depending on the size of firm, several copies are prepared. 10.AKNOWLEGEMENT-This is a document raised by the supplier to the buyer informing him that the order has been received and it is being acted upon. It is a single document. It serves the same purpose as an advice note. Conclusion As discussed above,it can be seen that the documents are important during purchasing in that they provide assurance about the goods to the buyer and payment to the seller.The documents also provide necessary information required during transaction for example;description of goods,price,date of delivery,date making payment among other necessary information.Involving this document in purchasing process will assist in providing evidence about transaction in future in case they will be required. Reference; Lysons k and Farrinton B,(2003)purchasing and supplies chain management,7 edition,prentice hall. Saleemi N.A,(1997)purchasing and supplies management simplified;N.A Saleemi publishers Nairobi Kenya MASINDE MULIRO UNIVERSITY OF SCIENCE AND TECHNOLOGY COURSE TITLE:PURCHASING AND SUPPLIES COURSE CODE:BCP 109 NAME:CHEPKEMOI CAREN REG/NO:BCM/1076/13 TASK:ASSIGNMENT AND CAT LECTURER:MR.KWENDO DATE:14/5/2015


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