Invoice: Commercial document that itemizes a transaction between a buyer and a seller. The invoice will usually include the quantity of purchase, price of good and/or services, date, parties involved, unique invoice number and tax information.
Purchase Order (P.O.) A written authorization from a buyer to acquire goods and services. A purchase order is a legally binding document that authorizes the buyer to acquire goods and services from a supplier. The document states the item/service being acquired, price, quantity, delivery date and certain other terms that apply to the agreement. A supplier is not authorized to ship goods or perform service until they receive a Purchase Order from Xavier. A Purchase Order is the default acquisition method.
Requisition: An electronic document that specifies what is being ordered, the FOAP/budget used, and the supplier that will ship the goods or perform the service. The Requisition will result in a Purchase Order being sent to the supplier via the XavierBuy system. Types of requisitions are"catalog" and "non-catalog".
XavierBuy: The electronic purchasing and invoice system used at Xavier. The software behind the system is from a company named Jaggaer, which is sometimes interchanged with XavierBuy.