A requisition refers to the act of requesting and ordering to use a certain material or to spend an amount from the company.
Requisition Forms are often submitted to the financing/ procurement/ stores department of an organization and may be declined or approved for various reasons. The form should contain adequate information about the request, the descriptions of the materials and its possible price.
Sometimes, requisition forms are misinterpreted as purchase orders since both are used for requesting a product or a service. But in a company’s procedure, a purchase order will only be issued once the requisition forms will be approved by the financing department. These two forms will have similar numbers/ interlinked numbers to maintain good record keeping. This comes under healthy procurement practices.
About Purchase Order Requisition Free Excel Template
This template is useful for small to medium business. This purchase requisition can be used by any department to request for purchase requirement.
Things to be careful while filling up this form includes – quantity requirement, description of material, department where material will be requested and proposed vendors, if any. All the purchase requisitions should be adequately authorized/ signed off by the authorized personnel. This helps in creating a good control over procurement practices in an organization.
To keep proper track of purchase orders, you can also use the purchase order tracker excel template available at Excel Downloads.
Download and Use Purchase Order Requisition free template
To use this free excel template, you should have Microsoft Office/ Microsoft Excel installed in your system. After installing Excel or Spreadsheet, download the zip file of this template.
Extract the template using WinRAR or 7Zip decompressing software. Once extracted, you can open the file using Excel and start entering data or customizing the template.
