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Purchase Order

Purchase order (POs) are the only way, due to competitive and capitalization requirements, that purchases over $5,000 can be made at the University of Alaska Anchorage. Purchase orders under $5,000 may be issued where a procurement card is not able to be used or other method of purchase is not practical.

Once a requisition has been entered into Banner the requisition is assigned to a procurement officer, usually based prior expertise in purchasing the requested goods or services. If the purchase does not require further competition or other considerations, a purchase order is issued by Procurement Services to place the order. The purchase order, when accepted by the vendor, becomes a binding contract between the seller and the University.

The process for issuing purchase orders is as follows:

  1. The procurement officer is assigned a requisition in Banner usually based prior expertise in purchasing the requested goods or services.
  2. Banner assigns the purchase order number to the requisition automatically upon request. 
  3. Procurement officers will confirm terms, pricing, shipping cost, among other specifics, with the vendor. 
  4. When all issues are confirmed purchase orders are completed, printed and signed by the those delegated with procurement authority. 
  5. Banner automatically encumbers the funds as the purchase order is completed. 

All signed Purchase Orders are distributed as follows:

  1. The original copy is to the vendor and includes the University's terms and conditions of the purchase and may include other backup or information, such as registration forms, needed by the vendor.
  2. A copy is sent to Accounts Payable (with any necessary backup) for payment when the goods have been received or services rendered. Payment terms are typically 30 days after receipt of invoice.
  3. Procurement Services maintains a file with copies of pertinent backup and attachments for later reference if needed.

To determine the purchase order number, when the purchase has been assigned, access Banner form FOIDOCH and enter in the known requisition number.

There are several other types of purchase orders that can be created from a requisition entered into Banner including open purchase orders, cash pay purchase order and prepaid purchase order.

Click here for Banner Finance instructions for requisitioning of Purchase Orders.