purchase orders

Purchase OrdersPurchase OrdersPurchase OrdersPurchase Orders

Student Activities OfficeStudent Activities Office

What is a purchase order?

• It is proof of MIT’s commitment to pay an outside vendor

• A PO does not:– Authorize checks. Separate vouchers

are required for checks. – The final and all invoices need to be

signed/approved by a signatory.

When do you use a purchase order?

• Purchase of any capital goods• Purchases over $5k• Purchases that go over a length of

time where deposits are needed• Recurring orders with the same

company

Types of Purchase Orders

There are 2 types of Purchase Orders:

$ Standard: one time use for a specific event, program or purchase

$ Blanket: used repetitively during the academic year

What does SAO Need?• Name of company• Address of company• Federal ID of company• Phone• Fax• Selection of Source over 5k• Description of Event (Amount people /food/

entertainment/event timing)• Itemized Quote

This all goes on the SAO Voucher

Selection of SourceCan be found at:

http://vpf.mit.edu/index.php/site/procurement/forms_and_templates

What do you do after event?

• Get Final Invoice• Initial the invoice• Complete a voucher

– This tells us to pay on the Purchase order

**IF YOU DO NOT OK THE INVOICE/SUBMIT IT TO US WE WILL NOT PAY IT**

Questions???Questions???Questions???Questions???