How can an online Purchase Order system control budgets?
Managing expenditure within an organisation can be difficult but by using a purchase order system, budgets can be set for departments or projects and can be linked to cost centres or nominal codes. Whenever a purchase order is raised, the value will be matched against the budget, added to the ‘Amount used’ field and will be deducted from the total to show the amount remaining.
If a purchase order is raised which has a value greater than the amount remaining for the budget the system will disallow the process.
At any time nominated users and the Finance Department can view the status of all budgets in the system and run reports on any particular project expenditure.
It is also possible to set a budget expiry date within the system regardless of whether all the allocated money has been used or not.
For further information on online Purchase Order systems please click here or call us on 0800 840 3336.
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