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Download a Free Purchase Order Template for Your Business

by inFlow Inventory | Last Updated: March 2nd, 2022 | Uncategorised | 1 comments

Have you ever run into problems when ordering products for your business? Maybe the order came in late (or not at all), the quantity delivered didn’t match what you ordered, or the item numbers were wrong. If so, you could be in need of a proper purchase order template.

The problems listed above are all common problems your business might face without using the proper paperwork when submitting orders to your vendors. Sure, you might prefer to order from your sales rep by phone or email. After all it’s what you’ve been doing for so long, at this point it feels like a convenience. But having formal paperwork for confirmation can help streamline the process and prevent issues from arising. This is where a purchase order comes into play.

We thought why not create a free to download purchase order template for anyone to use to get started. If you want to learn more about what purchase orders are, and why using a template may be useful, read on!

What is a purchase order?

A purchase order (PO) is a legally binding document that a buyer submits to a seller to place an order for goods. Once the seller has accepted the purchase order, it forms a contract that clearly expresses the intent of the buyer. This purchase order protects the seller in case the buyer refuses to pay for the goods.

Purchase orders are essential to ensure an accurate order is placed with a record of the date of purchase and confirmation of the seller’s receipt of the order. This can prevent any miscommunications and ensure that your orders are fulfilled correctly.

Basic elements of a purchase order template

There are some standard elements that every comprehensive purchase order needs. Those elements include:

  • Unique purchase order number for accounting and inventory usage
  • Contact information for both buyer and seller
  • Date purchase order was submitted
  • Payment terms
  • Shipping address, carrier preferences, and additional details
  • Details of items ordered including quantity, item number, description, unit price, and total cost
  • Shipping, tax, and other fees
  • Order total
  • Signature line for approving representative of the company
  • Unique purchase order number for accounting and inventory usage
  • Contact information for both buyer and seller
  • Date purchase order was submitted
  • Payment terms
  • Shipping address, carrier preferences, and additional details
  • Details of items ordered including quantity, item number, description, unit price, and total cost
  • Shipping, tax, and other fees
  • Order total
  • Signature line for approving representative of the company
  • Date seller must notify buyer by if there are any problems fulfilling the order
  • Any additional terms and conditions

As you can see, a purchase order can streamline the ordering process. They make it simple for you and the buyer to communicate your order clearly to your vendors and for your vendors to correctly process your orders. If there is a mix-up by the vender, you’ll have the purchase order to prove where the mistake was made. This could potentially save you the additional costs in getting the order fixed.

Getting started with purchase order templates

If you’re ordering products for your business regularly, a purchase order template will save you loads of time. Instead of having to create a new document each and every time, the template streamlines the process and ensures uniformity. Also, having a standard template will save you from entering the same details each time you send an order. Which means you’ll only need to type out your shipping address or terms and conditions once. It will also reduce the likelihood of making mistakes. Just verify the information on your template once, and it will stay the same for all future purchase orders.

Most small businesses start out by using templates for use with Micorsoft Word or Excel to create manual templates. These free downloadable templates generally contain all of the standard purchase order fields that a business would need to submit orders to their vendors.

template purchase order

Just customize the information in the appropriate sections of the template and voila! You have a professional purchase order ready to submit to vendors.

The trouble with manual templates

There are a few downsides to using manual templates. For starters, if you’re not familiar with Microsoft Word or Excel, you might have trouble customizing your template. Sometimes editing the size of a specific field will throw off the alignment of the entire template. Or if the information you need to enter in a particular area is longer than the template allows, the entire template will shift to compensate, moving things into positions you don’t want them to be in.

Beyond formatting issues, there’s also the trouble with organization. Whenever you need to reference a purchase order, you’ll need to search for it in your filing cabinets or computer. You’d also need to define some kind of standardized organizational method. Otherwise future employees will have a hard time tracking down old purchase orders. There will always be those random situations where you need to find a purchase order from years ago. Finding those files could prove to be a nightmare. Especially if they’ve been tucked away into archived filing boxes in the storage room, or on someone’s local backup drive.

And, of course, there is the reporting. Creating reports from manual purchase orders requires more manual work, and a lot of times your boss needs answers immediately. What if they’re on the phone with a particular vendor, and they need to go over all open orders? Finding these files on the fly when manually entering everything could prove to be a nightmare.

How inventory control software can help

Using a purchase order template within inventory control software like inFlow Cloud can eliminate all of the above-mentioned hassles of using manual purchase order templates. Once you have entered information about your company and your vendors, you can use simple drop-down arrows to quickly fill out your purchase order.  You can conveniently email your purchase orders by saving them as a PDF and attaching them using your favorite email client. You can also easily print out a hard copy to keep at the office.

The software’s database will keep your purchase orders stored securely in the cloud. So, if you needed to reference any purchase order you can quickly pull it up. All you would need is the order number, vendor, status, or other criteria.

The convenient dashboards and reports within inFlow give you all kinds of data with just a few clicks. For example:

  • Reports showing the status of outstanding purchase orders.
  • Total year-to-date purchase orders made by one vendor.
  • A listing of the products you have ordered from a particular vendor.

All of these and more would be readily available from the inFlow dashboard.

Whether you are a small business that is just starting out or a larger business that just needs a better way to streamline the purchasing process, be sure to give inFlow Cloud a try.

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1 Comment

  1. BabuB

    Thank u for sharing the information.

    Babu.B

    Thanks and regards

    Reply

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