This report is a format of Excel Weekly Purchases Status Report Template. This is precariously used in all kinds of business like Private Companies, Trades, Sole Proprietorship, Partnership, Hotel/Restaurant, Hospitals, Workshops, Malls etc.(www.fi9.org)
The basic purpose of Purchase Report is to give you a thorough look of your acquiring good by paying either money or goods for it. The Purchase Report keeps the record of how much material, product, goods or anything is purchased during the specified period of time. As we all know that purchase and sales are two main components or aspects of the business, for tracking the record of the business progress any organization/company owner, expert and/or Stakeholder prepares several reports. It helps the user to provide a guideline about how much he has invested and what is the budget cost of both manufactured product and ready-made product. By taking in account of both costs he deduces the sales prices of the goods. For such assessment of the project/product cost experts usually prepares Daily, Weekly, Monthly and Comparative Purchase Reports. And to assess the performance of purchase department he drafts the Budgeted Daily, Weekly, Monthly, Comparative and Analysis Purchase Report.
The format of purchase reports are drawn according to the requirement of business or you can say the nature of business. It must be easy, comprehensive and quickly understandable to everyone (both related and unrelated folks). It must magnify the exact facts and figures. The report begins by showing the company/business/organization name followed by the company address, date, report heading, contact information (E-mail, Phone No., Fax etc). Next comes the making of the columns, make one column of Date/Month (and other complete description of purchases during the specifies time), second column is of Quantity/Number and last column is of the Amount/Price. At the end comes the credits and verification. The report format also depends and varies according to the demand for example if you are making a Purchase Budgeted Report you are suppose to show the difference/variance between actual purchase status/activity and Planned/Budgeted Purchase Status Activity.
Hence making reports offer a kind of secure way to the business owners/planners/directors to easily assess the purchase cost and comprehend various policies and strategies to take confident step to reduce the cost prices. They remain aware of all the import and export of the material of the company and check the detail of all purchases that are incurred by his purchase department. With the help of these reports a Purchase Manager facilitates the investment reports for further procedures.
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