A powerful tool that allows you to instantly see which orders have been fulfilled and which are still pending
Key benefits
- Enhanced visibility: Gain instant access to the status of every PO, helping you keep a closer eye on your financial commitments.
- Improved planning: With real-time status updates, you can make more informed decisions, enhancing your ability to plan for future expenses.
- Efficient management: Streamline your AP process by easily identifying open and closed POs, saving time and reducing the risk of financial oversight.
How to use the Open/Close status feature
- Access your account: Log in to your Kloo account and navigate to 'Purchase requests' within the 'Accounts payable' module.
- View an open POs: Navigate to the 'Open' tab, select a PO, and click 'Close PO' if the transaction has been completed to satisfaction. This PO will now be found in the 'Closed' tab, indicating that it has been fully resolved.
- Check status: All POs are now separated into 'Open' and 'Closed'. You can navigate between the tabs easily:
When should you close a Purchase Order?
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Fulfilment of order: The most common reason to close a PO is when the ordered goods or services have been received in full and meet the specified requirements. This includes the correct quantities, specifications, and standards agreed upon at the time of the order.
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Invoice payment: Another crucial factor is the payment of the invoice associated with the PO. Once the invoice is fully paid, and there are no discrepancies or outstanding credits, the PO can be considered for closure.
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Resolution of discrepancies: If there were any discrepancies or issues with the order (e.g., damaged goods, incorrect quantities), these should be fully resolved before closing the PO. This might involve receiving replacements, issuing returns, or adjusting the invoice accordingly.
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Mutual agreement: In some cases, a PO may be closed if both the buyer and the seller agree that the order has been satisfactorily completed or resolved, even if not all original terms were met (e.g., partial delivery accepted due to urgent need).
Getting started
This feature is available to all users and requires no additional setup. Simply log in to your account to start taking advantage of the enhanced visibility and control it offers.