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Purchase Requisition Template

Thursday, July 3rd 2025. | Order Templates

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Purchase Requisition Template: A Comprehensive Guide

A purchase requisition template is a vital document in any organization that aims to maintain financial control and streamline its purchasing process. It’s essentially an internal request form used by employees to formally request the purchase of goods or services. This template acts as a standardized way to initiate the procurement process, ensuring that all necessary information is collected and approved before a purchase order is issued.

Why Use a Purchase Requisition Template?

Implementing a standardized purchase requisition template offers numerous benefits:

Improved Spend Control: The template forces employees to justify their purchase requests, providing management with oversight and control over spending. It allows for better budgeting and reduces the risk of unauthorized or unnecessary purchases.
Streamlined Procurement Process: By providing a structured format, the template ensures that all essential information is readily available, speeding up the approval process and reducing errors.
Enhanced Accountability: The template creates a clear audit trail, tracking who requested the purchase, who approved it, and the reason behind it. This improves accountability and transparency within the organization.
Better Budgeting and Forecasting: By analyzing purchase requisition data, companies can gain insights into their spending patterns, improve budgeting accuracy, and forecast future needs more effectively.
Reduced Errors and Redundancy: A standardized template minimizes the chances of missing information or duplicate requests, saving time and resources.
Compliance: The template can be tailored to include fields related to compliance requirements, ensuring that all purchases adhere to company policies and regulations.

Key Elements of a Purchase Requisition Template

A well-designed purchase requisition template should include the following essential elements:

Requisition Number: A unique identifier for each request, allowing for easy tracking and referencing.
Date: The date the requisition was created.
Requester Information: Name, department, and contact information of the employee making the request.
Department/Cost Center: The department or cost center that will be responsible for the expense.
Vendor Information (if known): Name and contact information of the preferred vendor, if applicable. Specifying a vendor can expedite the process if a preferred supplier is already in place.
Description of Goods or Services: A detailed description of the items or services being requested, including quantity, specifications, and any relevant details.
Unit Price and Total Cost: The estimated unit price and total cost of each item, allowing for a clear understanding of the financial implications.
Reason for Purchase: A justification for the purchase, explaining why the goods or services are needed and how they will benefit the organization. This is crucial for approval.
Delivery Date: The date by which the goods or services are needed.
Delivery Location: The designated location where the goods or services should be delivered.
Budget Code/Account Code: The appropriate budget code or account code to which the expense should be charged.
Approval Workflow: A section for approvals, including the names and signatures of approvers, as well as the date of approval. The approval process should be clearly defined and may vary depending on the amount requested.
Attachments: A section to attach supporting documents, such as vendor quotes, product specifications, or contracts.

Creating Your Own Purchase Requisition Template

You can create a purchase requisition template using various software tools, such as Microsoft Word, Excel, or Google Docs. You can also find numerous free and paid templates online that you can customize to fit your specific needs.

Here are some tips for creating an effective template:

Keep it Simple: Design the template to be user-friendly and easy to understand. Avoid unnecessary complexity.
Make it Customizable: Ensure that the template can be easily customized to accommodate specific departments or purchase types.
Use Drop-Down Menus and Checkboxes: This can help standardize data input and reduce errors.
Incorporate Validation Rules: Implement validation rules to ensure that required fields are filled out correctly.
Test and Refine: Test the template with a group of users and gather feedback to identify areas for improvement.

Automating the Purchase Requisition Process

While a manual purchase requisition template is a good starting point, automating the process can significantly improve efficiency and reduce errors. Consider using a procurement software solution or integrating your template with your accounting system to automate the approval workflow, track purchase orders, and generate reports.

By implementing a robust purchase requisition process with a well-designed template, organizations can gain better control over their spending, streamline their procurement process, and improve overall financial management.