Purchase Orders Student Activities Office What is a purchase order? • It is proof of MIT’s commitment to pay an outside vendor • A PO does not: – Authorize checks. Separate vouchers are required for checks. – The final and all invoices need to be signed/approved by a signatory. When do you use a purchase order? • Purchase of any capital goods • Purchases over $500 • Purchases that go over a length of time where deposits are needed • Recurring orders with the same company Types of Purchase Orders There are 2 types of Purchase Orders: $ Standard: one time use for a specific event, program or purchase $ Blanket: used repetitively during the academic year What does SAO Need? • Name of company • Address of company This all goes on the SAO Voucher • Federal ID of company • Phone • Fax • Selection of Source over 5k • Description of Event (Amount people /food/ entertainment/event timing) • Itemized Quote Selection of Source Can be found at: http://vpf.mit.edu/index.php/site/procurement/forms_and_templates What do you do after event? • Get Final Invoice • Initial the invoice • Complete a voucher – This tells us to pay on the Purchase order **IF YOU DO NOT OK THE INVOICE/SUBMIT IT TO US WE WILL NOT PAY IT** Questions???
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