#PO INVOICE MEANING HOW TO#
#PO INVOICE MEANING SOFTWARE#

These are often referred to as expense invoices and are commonly used for indirect purchases. What Is a Non-PO Invoice?Ī non-PO invoice does not have any attached PO, and it is frequently the outcome of expenditures that have occurred outside the usual procurement process. POs and associated PO invoices simplify the accounts payable team's task by precisely outlining what was meant to be purchased, what was really bought and what was received. POs are often used by businesses to procure required supplies or services, such as scheduled consultation sessions, cleaning services, stationery or even software.

PO invoices are frequently used for direct purchase or procurement, which means that businesses know exactly what they are purchasing ahead of time. Can be as stringent or flexible as necessary – a single PO can only cover a single transaction, but a blanket PO allows the client to acquire items or services continuously until a preset maximum limit is reached.

Assists suppliers in scheduling production and/or delivery when the customer needs it, enabling faster delivery.

Enables better financial planning and budgeting as funds must be available before issuing a PO.

Improves inventory and financial management accuracy.

Automation reduces paperwork, saves time, lowers operational and regulatory risks and optimizes payments while keeping vendors happy.

#PO INVOICE MEANING SOFTWARE#

GEP SMART AP Automation is an AI-powered software that scans invoices for essential information and verifies three-way matching using advanced optical character recognition (OCR) technology. PO matching is the key to automating PO invoice processing.ĪP automation systems, such as GEP SMART AP Automation, can help to simplify the PO invoice process by gathering invoice data, intelligently matching PO invoices and routing PO invoices for approval. In order to confirm that all information (quantity, price and PO number) is accurate, accounts payable often compares the PO invoice produced by the vendors against the PO. What Is a PO Invoice?Ī PO invoice is one that the vendor issues in response to a PO the customer has submitted. What exactly is a PO invoice, and what distinguishes it from a non-PO invoice? Here's all you need to know. One of the first steps is to establish whether the invoice includes a matching purchase order (PO).

#PO INVOICE MEANING HOW TO#

When a Supplier to the University has changed their details please visit here on how to inform the University to ensure we keep your records updated and to avoid any delays in payments.Accounts payable invoices must go through numerous processes before they are approved. More information on invoicing and payments can be found here. The University's method for receiving invoices is via email to Finance Invoices. All invoices should be submitted to the University's Accounts Payable team. 90XXXXXXX / 40XXXXXXX).įailure to obtain and provide a PO number may result in a delay to payment.

You must not accept any order from the University if an order number is not provided. Our Purchase Order number consists of eight numbers beginning with a nine or four (e.g. You will then need to quote this PO number on your invoice and resend it to the University. You will need to contact the person who requested the goods, services or works who will provide a valid PO number.

If the University receive an invoice that does not quote a valid PO number, we will send it back to you unpaid. This means that whenever you submit an invoice for payment it must clearly quote a valid purchase order (PO) number. If you do not have a purchase order, please do not proceed with the order, please contact the university department making the purchase and ask them to provide one. What is Aston's 'No Purchase Order, No Pay' Policy?Īny invoice that does not quote a valid purchase order will be returned to the Supplier unpaid.

Po invoice meaning