Difference between revisions of "PO"

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==Purchase Order==
 
==Purchase Order==
  
[[PO]] is created to make any expenditure.  
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===PO life cycle===
 
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#[[PO]] is created to make any expenditure.  
[[PO]] is attached to [[AFE]] for [[CAPEX]].
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##[[PO]] is issued against [[AFE]] for [[CAPEX]].
 
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##[[PO]] is created for [[OPEX]] and [[G&A]].
[[PO]] is created for [[OPEX]] and [[G&A]].
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#[[PO]] is approved in accordance with [[Approval Process]].
 
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#[[Invoice]]s are attached to the [[PO]].
[[Invoice]] is attached to [[PO]].
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#[[PO]] closes
  
 
===PO Attributes===
 
===PO Attributes===
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*Number
 
*Owner
 
*Owner
 
*Company_Owner
 
*Company_Owner
 +
*Company_Contractor
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*Description
 
*Expenses type: [[CAPEX]], [[OPEX]], [[G&A]].
 
*Expenses type: [[CAPEX]], [[OPEX]], [[G&A]].
 
*Expenses code
 
*Expenses code
**[[AFE|AFE Code]] if [[CAPEX]]
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**[[AFE|AFE code]] if [[CAPEX]]
*Company_Contractor
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**[[OPEX|OPEX code]] if [[OPEX]]
 +
 
 
*Over budget: yes/no
 
*Over budget: yes/no
 
*Total Cost free of VAT
 
*Total Cost free of VAT
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===PO Status===
 
===PO Status===
*Status: Opened//Closed/Paid
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*Status: Open/Closed
*Approval Status: In process/Approved/Declined
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*[[Approval Status]]
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*Budgeted: yes/no
 +
 
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===PO Authorization===
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<table border="1">
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<tr ><th>Sum</th><th>Budgeted </th><th>&nbsp;</th><th>&nbsp;</th><th>Unbudgeted </th></tr>
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<tr><td>&nbsp;</td><td>AFE in place </td><td>AFE not required </td><td>AFE not in place </td><td>&nbsp;</td></tr>
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<tr><td><$2k </td><td>Anyone Levels 1-3 </td><td>Anyone Levels 1-4 </td><td>1x Level 2 </td><td>2x Level 2 (incl Finance) </td></tr>
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<tr><td><$10k </td><td>1x Level 2 </td><td>1x Level 2 </td><td>1x Level 2 </td><td>2x Level 1 </td></tr>
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<tr><td><$100k </td><td>1x Level 2 </td><td>1x Level 2 (incl Finance) </td><td>1x Level 1 </td><td>2x Level 1 </td></tr>
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<tr><td><$500k </td><td>1x Level 1 </td><td>1x Level 1 </td><td>1x Level 1 </td><td>2x Level 1 </td></tr>
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<tr><td><$1m </td><td>1x Level 1 </td><td>1x Level 1 </td><td>Board of Directors </td><td>Board of Directors </td></tr>
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<tr><td>≥$1m </td><td>2x Level 1 </td><td>2x Level 1 </td><td>Board of Directors </td><td>Board of Directors </td></tr>
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</table>
  
 
[[Category:E&P Finance]]
 
[[Category:E&P Finance]]

Latest revision as of 09:36, 10 February 2017

Purchase Order

PO life cycle

  1. PO is created to make any expenditure.
    1. PO is issued against AFE for CAPEX.
    2. PO is created for OPEX and G&A.
  2. PO is approved in accordance with Approval Process.
  3. Invoices are attached to the PO.
  4. PO closes

PO Attributes

  • Over budget: yes/no
  • Total Cost free of VAT
  • Total Cost incl. VAT
  • Attached files

PO Status

PO Authorization

SumBudgeted   Unbudgeted
 AFE in place AFE not required AFE not in place  
<$2k Anyone Levels 1-3 Anyone Levels 1-4 1x Level 2 2x Level 2 (incl Finance)
<$10k 1x Level 2 1x Level 2 1x Level 2 2x Level 1
<$100k 1x Level 2 1x Level 2 (incl Finance) 1x Level 1 2x Level 1
<$500k 1x Level 1 1x Level 1 1x Level 1 2x Level 1
<$1m 1x Level 1 1x Level 1 Board of Directors Board of Directors
≥$1m 2x Level 1 2x Level 1 Board of Directors Board of Directors