Requisition Types

Standard Purchase Order: A standard purchase order is used to order a product/service when the need arises. You generally create standard purchase orders for the one-time purchase of various items. Potentially one invoice, not a declining PO type.

Standard Purchase Order/Non-Standard Invoicing: Purchase orders that may have 1 or more invoices against the PO for multiple reasons, i.e. required deposit or prepayment paid before the product/service is received, or the supplier will invoice in installments. Also, if a quote is attached to the PO and one line item indicates “per attached quote”.

Blanket Purchase Order: is a purchase order to deliver goods or services at a predetermined price on a recurring basis for a specified time period (typically 1 year). Blanket PO’s generally have multiple invoices. You create blanket purchase agreements when you know the detail of the goods or services you plan to buy from a specific supplier in a period, but you do not yet know the detail of your delivery schedules. 

Contract Purchase Order: Long-term purchasing agreements established to facilitate ongoing business between a buyer and a supplier. Contract PO’s generally have multiple invoices. You create contract purchase agreements with your suppliers to agree on specific terms and conditions without indicating the goods and services that you will be purchasing.