SOPs to be followed for Material Receipt

  • Created Date27 Apr, 2018
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Once the Purchase Order is placed by the Purchase Department of a company, it is very important to see how the Material Receipt is being taken care of, how and where the entries of the change in the stock is to be done at various levels, how the payment is being done to the vendor and the steps to be considered before a payment is been done to vendor. The closure of the Purchase is a very crucial point, since the major part of the company expenses and the balance sheet depend upon the stock position of the company.

 

Different types of Purchases: Purchase of Promotional Items, Fixed Assets, IT Purchase, Office Consumables & Service taken from Outsourced Trainers, Consultants and Contractors. Regional Offices and Branch Offices will handle the Purchase of Fixed Assets, IT Purchase, and Office Consumables & Service taken from Outsourced Trainers, Consultants and Contractors.

 

 

1)     Acceptance of Material: For promotional items Store In charge will receive the delivery & for all other items (Fixed Assets, Office Consumables) Admin Assistant to receive the delivery. Cross checking of items received with the Challan/Invoice with the Purchase Order for quantity and quality to be done & Challan/Invoice to be stamped by Store In charge/Admin Assistant as :

Quantity Received: Full/Short

Short Quantity: No’s.....

Quality: Ok/Not Ok

 

 

2)     Entry of Purchase : Once material is received with the original Invoice/Challan, Entry to be done in stock register by Admin Assistant

Entered in stock register as on..........

Page No.......

Dated on........

 For the Promotional Items Entry is to be done by Store In charge, with the remarks as:

 

Cleared by Stores.................

Sign (SI)......

Date.........

 

3)     Intimation to the concern department: Once the entry in the stock register is being done. An Intimation is been given to the user department for the receipt of material. The items are then disbursed as per the requirement of the user department.

 

4)     Verification of Invoices:  Stamped bunch of original Invoice, original Purchase Order, Purchase Requisition & quotation is forwarded to Admin In charge for payment clearance. Admin In charge will approve the invoice by putting the stamp as

Pass For Payment........

Amount Rs........

Pay By Date.........

 

5)     Closure of Purchase:  A closed stamp with sign and Date is put on the Purchase Order and Purchase Requisition, once purchase is complete and invoice is received.

 

6)     Role of Accounts Department: Stamped bunch of original Invoice, original Purchase Order, Purchase Requisition & quotation is forwarded to accounts department for payment clearance.

 

7)     Below are the difference conditions which are considered before making the payment.

 

a)      If quantity received is less than the order quantity, a Debit note is to be raised by the Accounts Department for that Purchase Order on the Vendor.

b)     If quantity received is more than the order quantity, new Purchase Order is to be generated for the excess quantity.

c)      To check if any advances are being done to the vendor.

 

All cheques to be made as per the terms of the payment mentioned in the Purchase Order.     

All cheques to be couriered only with the covering letter, in case cheque is given by hand, receiving to be taken on the photocopy of the cheque.

 

8)     In case of Advance Payment : Admin Assistant to get “Advance Payment Sanctioned” stamp on the Performa Invoice approved by Admin In charge  to collect payment from Accounts.

 

9)     Filing: One set of copy of invoice, original purchase order, original purchase requisition, to be filed in PO file by the Admin Department. One set of original Invoice, copy of purchase order, copy of purchase requisition to be filed in Payment clearance file by the Accounts Department.

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