MIS

Atul Powar
Khyati Shah
Nandakumar R S
Soumabrata Dasgupta
Shachee Swadia 1
As a Client
 Request for Quotation (Marketing and
Sales)
 Vendor Notification (Marketing and Sales)
 Purchase Order (Accounts and

Procurement)
 Goods Receipt (Marketing and Sales)
 Invoice Receipt (Accounts)
 Payment (Accounts)

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Request For Quotation
(Marketing & Sales)
 A request for quotation (RFQ) is a document
that an organization submits to one or more
potential suppliers eliciting quotations for a
product or service.

 An RFQ typically involves more than the price

per item. Information like payment terms,
quality level per item or contract length are
possible to be requested during the bidding
process.

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Vendor Notification
(Marketing & Sales)
 This is the document that notifies the
particular vendor that he/she has been
selected to be the supplier.

 The notice is sent to the vendor after

verifying the quotation.

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Purchase Order
(Marketing & Sales)
 A purchase order (PO) is a commercial
document issued by a buyer to a seller,
indicating types, quantities, and agreed prices
for products or services the seller will provide
to the buyer.

 Sending a PO to a supplier constitutes a legal

offer to buy products or services.

 Acceptance of a PO by a seller usually forms a

one-off contract between the buyer and seller.
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Goods Receipt
(Marketing & Sales)
 Official document issued by a port, shed,
warehouse or shipping terminal operator to
acknowledge receipt of items listed in it
under customary or specified terms and
conditions.

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Invoice Receipt
(Accounts/Finance)
 It is the document that acknowledges the
receipt of the invoice.

 It states that the invoice is as per the

conditions specified.

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 Payment
(Accounts/Finance)
 The payment is given to the vendor based on
the contract signed.

 Payment may be immediate and full or in the

later stages with part payments.

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As a Supplier
• Quotation (Marketing and Sales)
• Sales Order (Marketing and Sales)
• Invoice (Finance)
• Receipt of Payment (Finance)

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Quotation
(Marketing & Sales)
 A quotation describes the product, states a
price for it, sets the time of shipment, and
specifies the terms of the sale and terms of the
payment.

 The suppliers are selected on the basis of their

quotations.

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Sales Order
(Marketing & Sales)
 The sales order, sometimes abbreviated as SO,
is an order issued by a business to a customer.

 A sales order may be for products and/or

services. Given the wide variety of businesses,
this means that the orders can be fulfilled in
several ways.

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 Invoice
(Finance)
 An invoice or bill is a commercial document
issued by a seller to the buyer, indicating
the products, quantities, and agreed prices for
products or services the seller has provided the
buyer.

 An invoice indicates the buyer must pay the

seller, according to the payment terms.

 The buyer has a maximum amount of days to pay

these goods and are sometimes offered a
discount if paid before.
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 Receipt of Payment
(Finance)
 A written acknowledgement that payment or
money has been received.

 The supplier issues this document after the

complete payment is received.

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Thank You !

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