Do I need a purchase order?
Purchase orders (POs or PORs) often fulfil a key part of the procurement process, but they’re not used routinely by all organisations and there’s no obligation from an accounting perspective to have them – or is there?
Purchase orders (POs or PORs) often fulfil a key part of the procurement process, but they’re not used routinely by all organisations and there’s no obligation from an accounting perspective to have them – or is there?
If you have responsibility for budgeting in your business, the events of the last couple of years will undoubtedly have kept you busy and will probably have thrown some challenges your way. You’re not alone. Businesses everywhere are struggling to set and maintain accurate budgets, beset on all sides by world events and economic trends.
So how do you budget effectively, and more to the point accurately, with so many external influences at play?