08. Procurement

SocrateCloud, through it's procurement functionality allows you to follow the procurement process within an organization and to manage the associated documents.

Requisition - The requisition is an internal document used to generate purchase orders to vendors or to determine internal procurement processes (stock movements). A requisition can be entered manually or generated automatically through processes available in SocrateCloud.

Purchase Order - The purchase order is a document used to control receipts and invoices through which an organization requests products from a vendor. A purchase order can be entered manually r can be generated automatically from a sales order or requisition through processes available in SocrateCloud

Vendor Invoice - The vendor invoice is a document certifying the procurement of products from a vendor. An invoice can be entered manually or generated automatically from a purchase order or receipt. An invoice can also be used to generate a matching receipt.

Receipt - The receipt is a document used when receiving procured products and at the same time certifies loading the procured products into a warehouse. Only products of item type can be loaded. A receipt can be used to generate a matching invoice. It is also possible to enter an invoice first and generate a matching receipt later.

Matching between invoices and receipts is mandatory. Matching can be done manually or automatically. If matching is not done certain accounting transactions will not be completed.