A purchase requisition is an internal document that initiates a request from a business to its purchasing department to purchase specific goods or services required for daily operations. It is usually the first step in the purchasing process, providing the necessary information about what needs to be purchased and how much of it is needed.
A purchase order on the other hand, is a legally binding contract between two parties, generally between the seller and buyer. Once the seller has accepted the agreement, they are obliged to provide goods or services specified by the buyer at the agreed upon price and terms. This document is essential to ensure accurate record keeping and traceability of goods and services.