FAQs - Purchase Orders
What is a Purchase Order (PO)?A PO is a written sales contract between buyer and seller detailing the exact merchandise or services to be received from a single vendor. A unique PO number will be generated by the system which shows that purchase details have been recorded and payment will be made.
It doesn’t have to; being prepared when requesting a purchase can streamline the process dramatically. When spending our tax payers’ dollars, funding from grants, state and federal sources- we find a system of checks and balances to be prudent and legal. Use the Purchasing Process flow chart to gain perspective.
Why can it take so long to make a purchase?
I am trying to make a PO for a new business and the vendor does not exist in the listings, what do I do?Each company we do business with needs to be set up in Infinite Visions aka Budget Sense. We require a federal Form W-9, Request for Taxpayer Identification Number (TIN ) to be sent to the Business office for each new vendor. Once the vendor is in the system, a Purchase Requisition can be created.
You must submit a transfer request by sending an email to the Finance Clerk. The email needs to include the account numbers to and from for the movement of money and the reason for the request. Once approved and completed you can then create a Purchase Requisition.
When I try to make the PO there is not enough money?
Our account numbers are dictated by the State of Vermont. The Fund Directory, Infinite Visions access to the General Ledger/Chart of Accounts/Account Code Input feature or asking your friendly Business office staff for clarification is always a good start. Having accurate information upfront streamlines your approval process.
How do I know what account number to use?
It is ideal to get a PO before making a purchase to ensure it is an allowable expense and funding is available.
Can I make a purchase on my own and be reimbursed instead of waiting for a PO?
What if I don’t know the exact amount of the purchase until I place the order?The PO should be as accurate as possible. It is understandable that items could change; therefore overestimate.
We are a tax free organization and should not be charged tax on any purchase. Request a Resale & Exempt Organizations form for your school from the Business Office to give to the vendor. This will enable them to not charge taxes.
What if the company wants to charge us tax?
An invoice and purchase order need to be together to initiate payment. The easiest process is communicating the business address to the vendor. SVSU, Attn: Business Office, 264 S Stream Rd. Bennington, VT 05201. Electronic and hard copy invoices (not packing slips) are accepted.
How do I submit an invoice to be paid?
Many companies surprisingly will accept POs (including online businesses). It simply takes a little investigation. For those vendors that refuse, we recommend you look for the product elsewhere.
What if the company will not accept a PO?
If it is necessary to make a purchase through a credit card, please fill out a Credit Card Preauthorization form for prior approval. Once approved, the Business office will initiate the purchase.