Purchase Release Slip (RS) – Component Overview

Introduction

Purchase Release Slip component facilitates the generation of an ordering document, on a supplier, with whom a purchase agreement, which means a Blanket Purchase Order is already in place. A unique Release Slip Number identifies each such ordering document. It also serves as the basis for the generation of goods receipt documents and verification of supplier’s invoice.

Feature Highlights

• Facility to cover Purchase Requests and Sale Orders in the Release Slip document.

• Provision to stipulate in a Release Slip, the place of receipt and storage of the items ordered. Provision to specify the financial book into which financial postings need to be made on execution of the Release Slip.

•  Provision to incorporate in a Release Slip, the delivery schedules & distribution of the item being ordered, its quality attributes, relevant budget and proposal details, the various taxes, charges and discounts that are applicable, and drop ship address details, in case material is required to be delivered at a customer’s place directly.

• Support to generate invoice before material is received, if required, and make advance payment to suppliers.

•  Provision to access the stock details of a particular item at a warehouse / organization unit level to arrive at a better decision on the quantity of items to be ordered.

List of Activities