In this template (Mentioned), you can manage multiple products with awesome dashboard tracking. Although purchase order is just a sheet in this template, where you can add and delete products and enter detail (KPI), shown in dashboard of this inventory management system.
- Enter each product details (Tax, product name, QTY, Supplier Name, Status, Location)
- Some fields are calculated (DO NOT WRITE on IT)
- Each product you enter data shown in dashboard after selecting any product in drop down menu
- Printable invoice in supply chain excel
This Purchase Order Tracking System Excel is very useful template regarding managing profit and loss, expense management, printable invoice generates, customer management
What is the Purchase Order Template?
Most people confuse purchase order with invoice/ bill. But it is actually an official document signed by the buyer in which details regarding the services or products along with their quantities and prices are carefully recorded. It is a formal mode of communication between the buyer and seller. The seller in response to it provides the buyer with the receipt or invoice. It is an agreement which needs to be fulfilled by both the seller and the buyer.
Purchase order keeps you safe from hassle which you are likely to face while having a verbal agreement. It also reduces the chances of irregular or wrong orders. You can also use shipment tracking template to track each product.
You can also avoid unexpected price fluctuation between the placement of order and delivery. It also keeps you safe from miscommunication. All in all it provides clarity and peace of mind.
Purchase order occurs in the following steps.
- Buyer is responsible for creating a purchase order.
- As soon as the request for quotation is sent out, the suppliers or vendors pitch in.
- Later the suitable ones are approved by the buyer.
- Now the official document is sent to the seller for approval.
- After the approval from the seller further action is taken.
- As per the purchase order goods or services are provided.
- Invoices are kept for the record and payment is done.
How to Track Purchase Order (Daily/ weekly) through Excel?
If you are a regular buyer or even not, you still require a purchase order tracking system. You are dealing with multiple vendors in a single day; it is good to keep a record of it. In future you might need it for audit or payment. So, to deal with the bulk of the order is a tough task.
Organize Inventory Data
To lessen this burden you can organize your data in a purchase order tracking template. The template is easy to use and does the job well. You can create a spreadsheet on excel.
Elements of Purchase Order
The details that are commonly recorded for the purchase order tracking are purchase order number, vendor information, due date for the order delivery, amount due for the respective order, total paid amount, outstanding dues (if any) and the status of the order.
Purchase Order Spreadsheet
On the top of the spreadsheet a summary is available which tells you about the total paid amount so far, your budget and outstanding dues. You can get the details of all vendors at a time or in case you are looking for a specific vendor you can select the name from the search bar.
This filtering feature is present already in excel which makes the tracking system a lot easier. You can do formatting according to the status of the purchase order to make it more readable.
Examples of Purchase Order Template
Different companies or organizations require different types of purchase order. To make it easier purchase order templates are available.
Construction Purchase Order Template
A construction company or a project is dealing with multiple supplies at a time and there are more chances of mess.
To keep the project running smoothly it is a wise idea to develop a purchase order. Purchase order will cover all the supplies from different vendors with the total bill. This will help you to keep a check on your budget as well. Delivery date and payments are also recorded clearly in the purchase order. This legal document keeps you safe from unnecessary burden and irregularities.
Generic Purchase Order Template:
This template carries the information of the vendor and the shipment. You can also use it for the tracking purpose. It is free and easy to use. You can also add extra comments or details if you want.
Comment on purchase order tracking system excel, if any editing required. TemplateInsider.com Team will help you in this matter.