Pay By Purchase Order

Pay By Purchase Order

Pay By Purchase Order

oboloo’s Glossary

Pay By Purchase Order is the official business definition for an arrangement where a customer can purchase goods or services from a business using a purchase order. It is an important feature of business transactions, especially for larger companies and businesses with a large number of customers. Pay By Purchase Order allows customers to secure the goods and services they need without having to pay upfront, which helps them manage their cash flow and prevents unpleasant surprises. It also helps businesses manage their own cash flow by providing them with a guaranteed payment source. To set up Pay By Purchase Order, the customer must first submit a purchase order to the business. This document should include a detailed description of the items or services being purchased, the price of each item, the terms of payment, and the expected delivery date. The business then reviews the purchase order and either accepts or rejects it. If accepted, the business will provide the customer with an invoice,