Purchasing & Receiving

From Requisition to Vendor Invoice

The Purchasing and Receiving module flows seamlessly from requisition to purchase order, to receipt, and to voucher (vendor’s invoice).

The purchasing process may begin with a requisition.  Requisitions allow your employees to request supplies without placing an actual purchase order.  Employees indicate the items they need and then authorized users review the requisition and create a purchase order.

MasterTools has four major types of purchase orders to accommodate all of your purchasing needs.  Reserve purchase orders enable you to supply a vendor with a purchase order number without filling in the detail of the purchase order at that time.  Blanket purchase orders establish a long-term price commitment with a vendor.  Transfer purchase order work in conjunction with transfer sales order to move products from one location to another.  Normal purchase orders can be created for a requisition, released against a blanket purchase order reducing the committed quantity, or can be issued independently.

Receiving at your dock is simple with MasterTools.  You have the capability to receive shipments without the necessity of a paper purchase order.  The receipt assigns product to a bin (sub location), identifies serial or lot numbers if they exist, and can print receipt tags with barcodes for use with scanners.  You also have the option to receive items into a staging area (i.e., RECEIVE bin) and then direct placing the item on the shelf with a Putaway document.  The receipt is then closed by the entry of a voucher (vendor’s invoice).  Unit conversions allow you to receive product according to the unit of measure on the packing slip while updating inventory at the correct quantity for the unit of measure you stock.

The MasterTools voucher interface displays the quantity and cost of an item received and compares it against that of the voucher.  If these two differ, a purchase price variance is created.

Additional Features

  • Automatic Requisitions
  • Match Purchase Orders to Receipts to Vouchers
  • Analyze Vendor Performance
  • Track Open Receipts
  • Create Purchase Orders from Min/Max Criteria
  • Create Purchase Orders from Marked Sales Order Lines
  • Calculate Landed Cost at Time of Receipt
  • Source Receipts from Purchase Orders and Return Authorizations
  • Perform Putaway with Barcoded Bins and Items
  • Return Items to Vendor with Shipping Integration

Reports Include

  • Open Purchase Order
  • Open Receipts
  • Vendor Performance
  • Item Actual Cost Analysis
  • Vendor Purchases