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Old 02-02-2006, 04:56 AM   #1
ScorpionChick
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Question - help!!



I needed some help trying to figure out something. If anyone can help, I would really appreciate it.

Question: Say, your company orders goods all the time. When they receive the orders that were processed, a receiving report comes along with it. You file these receiving reports in chronological (by date) order. How would this help you in the future?

Any help would be great. Thanks!
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Old 02-02-2006, 05:02 AM   #2
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perhaps you can elaborate a little bit....are the goods for internal use within the office such as stationary? or are the goods being sold?
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Old 02-02-2006, 05:04 AM   #3
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These are all orders - supplies as well as inventory. It's all filed away in the same area by date.
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Old 02-02-2006, 05:10 AM   #4
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both in the same area? that doesnt seem to make much sense ... kinda shoots down what i was thinking

i bet they are just sorted by date because they new orders are just thrown on top of the old stack
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Old 02-02-2006, 05:14 AM   #5
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It's only the receiving reports that are filed away in such an order. At this stage of the process, the prenumbered purchase orders along with a copy of receiving reports are sent to A/P. It's the receiving department that receives this report which is filed away in chronological order. How does doing this help?
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Old 02-02-2006, 05:20 AM   #6
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Gives you a history of what you ordered so you know how much you ordered vs. how much was used in how long of time. You will know how much you need to order next time depending on amount of time vs. price (buying in bulk) vs. quantity.
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Old 02-02-2006, 05:25 AM   #7
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Quote:
Originally Posted by tekniq
Gives you a history of what you ordered so you know how much you ordered vs. how much was used in how long of time. You will know how much you need to order next time depending on amount of time vs. price (buying in bulk) vs. quantity.

thats what i was originally thinking....but its only recieving that is filing this away, it would make more sense to have the purchasing dept have it for records for future use...as the recievers just take the stuff
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Old 02-02-2006, 05:32 AM   #8
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I was thinking that too but why would using a receiving report be more beneficial than your actual purchase order. To me, it makes more sense using a purchase order, but why do you think the management decided on having procedures done this way?

I can't think straight anymore.
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Old 02-02-2006, 05:38 AM   #9
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Quote:
Originally Posted by ScorpionChick
I was thinking that too but why would using a receiving report be more beneficial than your actual purchase order. To me, it makes more sense using a purchase order, but why do you think the management decided on having procedures done this way?

I can't think straight anymore.


id compare most upper management to a lighthouse in a desert..........they're bright, but fu*king useless
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Old 02-02-2006, 05:43 AM   #10
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If an auditor was looking over this, they would see a strength here, but also a deficiency. I need to focus on the strength aspect. I don't see any.
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Old 02-02-2006, 05:46 AM   #11
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the purchasing report would tell you when you ordered it, and recieving rpt would say when you actually got it..... would it be more helpful to know when you actually got the goods as opposed to when you ordered them?
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Old 02-02-2006, 06:00 AM   #12
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But, why is it more helpful?
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Old 02-02-2006, 06:03 AM   #13
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oh...i was asking that as a question too!!! i cant handle this, time for me to sleep :S


sorry, i was completely useless
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Old 02-02-2006, 06:08 AM   #14
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It's alrite, thanks for trying.

Anyone else to the rescue?
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Old 02-02-2006, 09:48 AM   #15
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Quote:
Originally Posted by ScorpionChick
I needed some help trying to figure out something. If anyone can help, I would really appreciate it.

Question: Say, your company orders goods all the time. When they receive the orders that were processed, a receiving report comes along with it. You file these receiving reports in chronological (by date) order. How would this help you in the future?

Any help would be great. Thanks!
This sounds like homework!

If a company orders bulk goods, it will come with a shipping sheet. (invoice). Each invoice will be for a specific date, from a specific vendor. Multiple invoices can be filed for a single date, from multiple vendors. One invoice per order. These invoices (or receiving report) will typically contain:

- Itemized Statement of Goods Shipped
- Description of Goods
- Quantity of Each Good Ordered
- Price of Goods
- Service Charges
- Taxes
- Subtotal
- Total
- Name & Address of Vendor (Supplier)
- Signature that order has been released / delivery person
- Consignee
- Signature that Order has been Received (if hand-delivered)
- Currency of Purchase
- Terms of Sale
- Recipient Information / Details / Address
- Order ID / Invoice ID (this is a unique identifier)
- Date of Order
- Date of Shipment

Once recieved, these invoices can be filed by date, or by Invoice ID / Order ID. Sounds like you're set on sorting chronologically. Most companies will input this into some type of database, or a simple spreadsheet/datasheet.

Keep in mind that you may not always place an order everytime you need something. You may have an agreement for the vendor to ship a certain quantity of item x every month. For example, for my restaurant I need 5 bottles of Ketchup every month. I am not going to order this everytime, as it is prearranged. This will be tracked by the invoices recieved. And it will not be reflected in my "Order placed". It's also possible that perhaps I'm placing the order over the telephone, so I don't have a "order sheet" on my side, and will wait for the invoice as hardcopy documentation. Perhaps my restaurant has a service from a company that comes in and takes our uniforms and cloths and washes them, and provides new ones for us. We don't order this, they come on their own every Wednesday, and will leave an Invoice ID every week detailing how many items they had to wash, and the total price.

The invoice (receiving sheet) may be useful in the future for:

- Ensuring the order placed matches the orders recieved.

- Annual Cost Cross-Analysis (orders places vs orders recieved), by Currency: How much of our annual budget was spent on goods, comparison by Order sheets, and Invoice (receipt) sheets. Or how much did we spend according to invoice, annually?

- Missing inventory? We know there should be 10 boxes of pen's on the shelf, why are there only 6? Well, let's go back to the invoice and ensure our order has been shipped in full.

- Who signed for this order? This order is not what we wanted at all! Go back to the invoice for January 3rd, 2006 and tell me who signed for this package. (who's signature).

- Budget analysis. Which months do we spend the most money?.. Perhaps input this invoice information into a Spreadsheet and perform a simple budget trend analysis by month, or by vendor. Useful for tracking trends within the company.

- Legal documentation, these papers for most corporations would be required to kept on file for Corporate Compliance / Legal Department for 3-7 years. Can also help if there is a lawsuit for whatever reason. Say you purchased 100 items of something and they were defective, the vendor does not want to support your claim, these documents would be useful in court as proof they did actually ship the order. Note than these invoices will also carry a "Terms of Sale" note at the bottom or on the back, which will also be useful for legal reasons. Auditors will look for this.

- For Auditor reasons, the invoice actually holds legal value. A "purchase order" does not. All because I ordered 10 bottles of Coca Cola does not mean that is what was shipped, and is what I paid for. A "purchase order" is barely useful, and only internally. Legally it holds no weight outside of the company, and in many cases, no weight outside of the department. Remember auditors want to do an analysis and control on current costs and possibly the current process used. They can only find out the actual 'costs' from these invoices.

- Some external auditing companies use these invoices to input into their own database. They used this to compare packing charges between different methodologies. This allows them to trend the data and make adjustments as necessary, then providing recommendations to reduce cost. This data can also be used for benchmarking.

- There are different types of audits, if the audit is a tax audit then these invoices are necessary for them to ensure your company is not making costly mistakes, and are filing your tax reports accurately.

I think this is enough to get you started, if you need more ideas just ask. I noticed you asked above about auditors, so I tried to focus my last points on these issues.

Justin
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