If you have multiple vendors or suppliers and create more than just a few purchase orders per year or per month, you will want to use some type of automated or semi-automated Purchase Order tracking system.
For tracking large numbers of procurement orders, you may want to look for custom Purchase Order software or a database solution.
However, if you just need something simple for now, this purchase order tracking template may be just right. If your business size is small up to medium, this template might be helpful.
About Purchase Order Tracking System Free Excel Template
As per general business parlance, Purchase Orders are documents issued by a Buyer (your organization) to a Seller (the vendor). They are an important tool for Buyers because they formalize requirements and pricing, and serve as legally binding documentation of the goods/services being supplied.
Also, Purchase order tracking also known as a PO tracking system is a software application used to view the real-time status of purchase orders. Implemented as cloud based software or on-premise, it allows the electronic handling of purchase orders for swift and simple PO processing.
However, with this simple and effective excel/ spreadsheet template, we are trying to help small and medium category organizations and professionals.
How to track Purchase Orders ?
This Purchase Order Tracking excel template can help businesses manage the entire PO cycle, from creation to purchase order approval. This purchase order tracker offers the procurement team a way to weed out inefficiencies from purchase order processing.
Purchase order tracking also known as a PO tracking system is a software application used to view the real-time status of purchase orders. Implemented as cloud based software or on-premise, it allows the electronic handling of purchase orders for swift and simple PO processing.
To use this purchase order tracker, List all your purchase orders and display a summary of payments made to all or individual vendors. You can choose to show all purchase orders or just the orders for a particular supplier, using Excel’s built-in filtering feature.
Unique features of this Purchase order tracking excel template
- Includes a payment/aging summary for all orders or for individual vendors.
- Use Excel’s Sorting and Filtering feature to sort by date, PO number, vendor, etc.
- Customize the list of options that show up in the Status drop-down box.
- Gray-out rows by entering a Status of “Complete” when a delivery is received. (This is done using Conditional Formatting)
- Set the status of an order to “Draft” to keep it from showing in the aging summary.
- No VBA/macros
Here are five reasons why a purchase order tracking system triumphs over traditional purchase order tracking :
- Saves time by automating purchase order creation, routing, and approval.
- Offers a better way to store and access a pipeline of purchase order.
- Standardizes a process so that it doesn’t have to be reinvented every time.
- Ensures compliance with policies, regulations, and contracts.
Other Purchase Order Tracking Templates
You can also explore other purchase order tracking excel sheet format at Excel Downloads. Below are some of the other purchase order relevant resources that might be useful for you –
- Purchase order tracker excel sheet with ageing report
- Standard Purchase requisition format in Excel
- General Purchase Order format in Excel and Spreadsheet
Download and use Purchase Order Tracker Free Template
To use this purchase order tracking 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.