2. +
Requisitions
On the campus of The
University of Southern
Mississippi, purchases are
made by individual
departments mainly with
departmental procurement
cards or requisitions.
This presentation will focus on
requisitions.
3. +
PeopleSoft Software
The software application, a financial management system, used to
create requisitions is called PeopleSoft by Oracle®.
This software is used for financial control and reporting.
4. +
What is a requisition?
A requisition is the means by which a buyer is able to
purchase goods.
Goods can be purchased without immediate payment.
Once goods are received by the purchaser, then payment is
sent to the vendor.
A requisition is a customer’s IOU.
5. +
Details of a Requisition
Vendor information
Description of goods
Price of goods
Quantity of goods
Account(s) to be charged
Requisition requester
6. +
Submitting a Requisition
One must be trained to use the PeopleSoft software to enter a
requisition.
Only authorized personnel can enter a requisition
Requisitions are entered by budget authorities,
administrative assistants, and secretaries
7. +
When the requisition is created
Once the requisition has
been created, it has to be
approved by the purchasing
department.
Once the requisition has
been approved, it then
becomes a purchase order.
The purchase order is then
sent to the vendor so the
order can be fulfilled.
8. +
Requisition / PO Fulfilled
Goods are sent to the purchaser.
The requisition/PO has to be received/released in the
PeopleSoft system in order for the vendor to be paid.
Once the process of receiving and releasing of the purchase
order, the check is mailed to the vendor by the accounts
payable office.