Enter a Request for Quote (RFQ)

ACCTivate! allows you to create and submit a request for quote to your vendors. Essentially, the RFQ is really no different than a purchase order, in fact it is the actual purchase order with a different status on it. Many companies do not use RFQs at all, but some companies use RFQs on a daily basis. ACCTivate! can be configured for both types of businesses.

ACCTivate! has been designed to accommodate four different statuses for each purchase order. Depending on the needs of your business, you can select the beginning status to any one of the four statuses. This beginning status is the status that will be displayed when the purchase order is first created. These statuses are linear in progression, they move from beginning to end. They are Entered, Request for Quote, Pending Approval and Issued.

If your business never uses RFQs, then you would probably want to set the beginning status to either Pending Approval or Issued. If your business always uses RFQs, then you will definitely want to set the beginning status to Request for Quote. If your business only sometimes uses RFQs, then you will probably want to set the beginning status to Entered.

Configuring ACCTivate! to allow you to select RFQ status from the Purchase Order:

In the configuration manager, you can set the beginning status that will appear by default when a new purchase order is created. You will have four options to choose from.

  1. Open the Configuration Manager.
  2. Click Purchasing > Purchasing Options. This will open the Purchasing Options window.
  3. Click the Edit button on the ACCTivate! toolbar to allow you to make changes.
  4. In the Purchasing Defaults section, click on the Order Status drop-down menu.
  5. This menu will allow you to select the default status that will be applied to all new purchase orders.

    You have four options:

    Entered

    This is the lowest level default that can be selected for the purchase order. It is designed to show that a purchase order has been created and entered into the system. From here its status can be turned into a Request for Quote, Pending Approval or Issued. All four options available to you inside the purchase order in ACCTivate!.

    Request for Quote

    When this default is selected on this menu in the configuration manager, all new purchase orders will be automatically set to “Request for Quote”. This is very helpful if your business uses RFQs on a regular basis. Setting this as the default will remove the ability to change the purchase order to Entered, but it can changed to Pending Approval or Issued. Only these three options are available to you for purchase orders.

    Pending Approval

    Some businesses may desire that all new purchase orders be approved before they can be issued. If this is the case for your business, then setting the default status in configuration manager to Pending Approval will remove Entered and Request for Quote from the status list and will only allow you to select Pending Approval and Issued.

    Issued

    Some businesses have static relationships with their vendors and only issue purchase orders after they have determined their needs are met on a purchase order. For these companies, setting the default status to Issued will remove the other three status options. When a purchase order is created, it will automatically be entered as issued and can not be changed.

  6. As you can see, when choosing the correct option it is important to consider the type of business that you operate.* If you want to use RFQs for purchase orders, you MUST select either Entered or Request for Quote from this list.
  7. Make your selection and click Save.

 

Creating a Purchase Order and changing status to “Request for Quote”:

If you have configured your system to allow the purchase order status to be either Entered or Request for Quote, follow these steps to make an RFQ.

  1. Open the Purchase Order that you want to make a RFQ, or create a new Purchase Order.
  2. When the PO is in edit mode, click the drop-down menu for Status. This will display your options for status. Remember, your options are based on the selections that you made in the configuration manager.
  3. Select Request for Quote from the drop-down list and click the Save button. Your purchase order is now officially set in the RFQ status.
Posted in Purchasing - Last modified on April 5, 2012Temicca Hunter
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