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Purchase order invoice template for Marketing

Hello everyone, this is Rick Grantham of Small Business Champion Bundle, coming to you today from our offices here in Sunny Florida. Today were going to walk you through a purchase order template. Now, what is a purchase order? Basically a purchase order is a written sales contract between the buyer and the seller. This lays out the exact merchandise, the exact services that were going to be rendered form a supplier. A typical purchase order will specify things like payment terms, what are your delivery dates going to be? What are the different items and can you identify the exact items that are going to be delivered, the quantities of those items that are going to be delivered, all the shipping terms, and all the different obligations that are associated with the item that's going to be delivered. Now, I use purchase orders in my own business because it allows me to track and reference the supply of everything that I sell within my business, right? It allows me to track inventory from the time that something is purchased all the way until it's delivered. And personally, I use that as well for my inventory system so I can track when things are coming out of the inventory. But what are some of the benefits? The benefits is, first off, it provides legal proof that the customer has ordered the product or the services from your business and number two it does provide an audit trail, this is helpful for you in maintaining your inventory levels. So in the next part of the tutorial were going to bring out a template, were going to show you how to navigate the template and we'll show you how to input your own products, your own business information, into the template, so that you can provide these purchase orders to your customers. So stay tuned for the next part of the video. Hello everyone and welcome back to the template portion of the tutorial. When you first looked a purchase order template, the first thing you'll notice is the title screen. It looks very similar to this. Over on the left-hand side you'll notice there's plenty of opportunities to join the conversation whether clicking on the free e-book or asking questions or joining any of our communities on LinkedIn or Facebook. But the part which you likely most interested in is the actual template itself. So if you go down to the bottom here you'll notice a tab for purchase order, were going to select that. What this does is brings up a purchase order template itself. So the first thing you'll notice on the right-hand side, if you scroll over, you'll see within the template itself, there's also another opportunity to join the conversation, either for downloading our small business e-books or join us on LinkedIn or Facebook. You'll also notice that there are instructions here on how to interact with the template, but you don't need to worry about today because today we're going to actually walk you through in this video how you interact with this template and put it in your own business information. So as you scroll to the left-hand side, first thing you'll see is an opportunity to put in your company name, putting here your logo if you like. We'll put in Small Business Champ as an example, you can put in your own company information. And you'll see, there's a number of places here to put in purchase order information, your name, and a lot of the different information of what you're looking for in this purchase order. In this case, Highlight Imprints were going to turn that to yes so we're on the right-hand side, by selecting yes what that's going to do is highlight the areas for us that we should interact with within our business information, so that we're assured that we're not over riding any logic or any calculations that might be within template. We're going to select yes. Selecting yes, which you'll notice is, a lot of it's highlighted a light blue in color. So first thing we can do here on the upper left-hand corner, this is where you're imputing your own corporate information. In this case, I will put Rick Grantham, company name. We'll say Small Business Champ as an example. And your address, wherever your company's headquarters are located at, this is you main contact information. As you scroll a little bit further now, you'll notice some Vendor Details. Vendor Details are the people that you're giving a purchase order to that you're requesting their services. In this case, this may go to, I'm going to say Andy Grantham, because we used that name in a previous tutorial company. We could say, I guess, ACME Corporation as an example. And you got to put the address information and all of that here. Ship to, this is your information right? So you're the one whose look to receive the goods here, you're putting in the order, you're looking to receive the goods. This is telling them where to send all those goods to. So may have someone in receiving or your corporate headquarters may be... your company's headquarters may be different from the place you want to receive the goods at so this is where you put that information. In this case we'll put in Teri Grantham, company information would still be Small Business Champ as an example, and wherever the street address and all of the different places... all the different information you put in there so the shipper will know where to ship this to. Now, as you scroll down a little bit further, you'll notice there are Part Item and Part Numbers, and description information, the quantity and the price. So this is what you're looking to acquire from the vendor and if we do know the part information, part detail or information so we can put that in here, we're just going to put in some sample part items here. HG4300, or whatever the part number is, or if there is a catalog offering of what you're looking to purchase, that's where put those items, in there. It could be a short description here, where I'm maybe looking for, let's say roofing shingles. We're looking for 500. Unit price, let me say $75, and that's a lot of money there. We're not looking for 500. We're looking for 50 and we're also maybe looking for roofing nails as well. In which case, we may be looking for 50 of those as well, and in this case we'll say $2 per box, a hundred or so. So here's where you put in all the information around the description, quantity and the price. Scroll a little further down, you'll notice there's also place to put in the Tax Rate, we'll notice the tax rate here is highlighted blue as well. So if the tax rate in your location or where you're at maybe equal say 8.25%, you input that amount and everything calculates and everything updates for you. If there are any additional fees that you need to put in place, this might be... you could put in 150 bucks if there's an additional $150 part of the order that needs to be cared for. In this case, we're going to leave that blank, though, but there is a place if you need to put in an additional details around additional costs, that aren't necessarily quantity, or even [inaudible 00:07:43]. Scroll a little bit further down. There's a place for Authorized By. You could put in all of your... This is where you put in your signature or you put in a person who has authorized this. The very important part of this is the individual detail around the purchase order. You're going to have the purchase order number, this is used for tracking. As we talked about in the first part of the tutorial, the importance of identifying shipping terms, the importance of identifying the purchase order number so that you can that throughout your system which ones you complete and which ones aren't. We're just going to put in any random number here for a purchase order that would be sequential for us. Purchase order date, we use today's date, today is 8/2/2013. Whatever your shipping terms are, "ship via." Maybe ship via UPS. FOB is free on board. This will usually be free on board as the destination, or whatever the destination might be for you, or you can just leave this blank. But this has a lot more to do with at one point, or... during the shipping process, who's taking ownership of the good at that point. And so take a look in to this and put in the appropriate free on board or FOB related to your purchase order. Now that you have this complete and everything is ready to go, you can just scroll to the right-hand side here, where it says Highlight Inputs. Select No, and this is now formatted and ready for printing. At this point you can come up a File, Print and as it print out, be 100% ready to go out to your vendors. So this is the Purchase Order section of the Small Business Champion Template Bundle. Until next time, be a champion.