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Glossary / Also known as

PR

Another name for Purchase Requisition.

Other names
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What does PR mean?

PR is another name for Purchase Requisition. A purchase requisition is an internal document raised by a department or employee to request the procurement team to purchase specific goods or services on their behalf.

The two names mean the same thing. You will see "PR" in some ledgers, reports and contracts and "Purchase Requisition" in others. The full entry covers how it works, with examples.

Read the full definition of Purchase Requisition

Topics

From the glossary

Related terms.

Procurement Purchase Requisition A purchase requisition is an internal document raised by a department or employee to request the procurement team to purchase specific goods or services on their behalf. Also called purchase request, PR, indent Accounts payable Accounts Payable (AP) Money a business owes to its suppliers and vendors for goods or services received but not yet paid for. Also called trade payables, sundry creditors, payables Invoice processing Invoice Management The end-to-end process of creating, receiving, tracking, approving, and processing invoices for timely payments and accurate financial records. Also called invoice processing, invoice handling, invoice workflow Statutory compliance Business Compliance The process of adhering to all applicable laws, regulations, and industry standards that govern business operations in India. Also called corporate compliance, regulatory compliance Purchase orders Blanket Purchase Order A blanket purchase order (BPO) is a long-term purchase agreement with a vendor for recurring goods or services at pre-negotiated prices, quantities, and terms over a defined period. Also called blanket PO, standing purchase order, blanket order Procurement Government e-Marketplace (GeM) India's online procurement platform for government buyers to purchase goods and services from registered sellers. Also called GeM portal, government eMarketplace
From the blog

Related posts.

Procurement What is Procure to Pay (P2P)? Process, Cycle and Steps Procure to pay (P2P) is the cycle from a purchase request to supplier payment: requisition, purchase order, goods receipt, invoice matching and payment. Dhatri Medarametla 3 min Procurement What is a Purchase Order? Format, Process and PO vs Invoice A purchase order (PO) is the document a buyer sends a supplier to confirm what it is buying, in what quantity, at what price and terms, before delivery. OneFinOps Editorial 3 min Procurement Procurement Process: Steps, Types and Flow Chart The procurement process is the set of steps a business follows to buy goods and services: identify the need, source a supplier, order, receive, pay and review. OneFinOps Editorial 2 min
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