If you are a business owner, you would want to control how money is spent on goods and services. You do not wish to run a system that you have no control over. Therefore, to manage and control your expenses, you need to institute a payment requisition process that mandates approval of requisition before payment to a service provider.
In simple terms, a useful payment requisition can be described as a document that allows individuals or departments within an organization to request payment to external service providers for supplied goods or services. Payment cannot be made to any vendor without approval from a procurement officer or unit, which ensures control of finances within an organization. Therefore, the main function of a payment requisition is to serve as a confirmation that a service provider has provided goods or services based on agreed terms.
Payment Requisition Fields
A valid payment requisition must contain some fields, which are usually filled with useful information. These fields are stated below.
- Vendor Information
- Purpose of Payment
- Currency Field
- Information on Who Created the Payment Requisition
- Information on Who Approved the Payment Requisition
Vendor Information
The name of the vendor is provided, which is the same as that of the invoice from the vendor. Also, this same information is found in the “pay to” section of the payment requisition. Additionally, the vendor address is captured.
Purpose of Payment
The purpose of payment must be captured, which can be in the form of a reference to an invoice. Also, it should be stated if items are purchased for supply to clients.
Currency Field
This field defines the currency of payment, which must correspond to the currency on the invoice.
Information on Who Created the Payment Requisition
The name and signature of the creator of the payment requisition must be present on the document.
Information on Who Approved the Payment Requisition
The procurement officer or department must sign and certify the payment requisition. The officer that signs the requisition must be different from its originator.
How To Create a Payment Requisition
A payment requisition is best created using specialized software applications that automatically populate most of the document’s fields. However, it can still be generated using standard word processing or spreadsheet applications by creating custom templates.
Developing a payment requisition involves the following processes.
- Create a Header
- Write Payee Information
- Input Justification and Delivery information
- Provide a Funding Source Information
- Approvals
Create a Header
You should create a header that highlights the document as a payment requisition form.
Write Payee Information
You must provide the payee information, which includes name, address, and other relevant information. Payee information should be the same as that on the invoice. This field is created immediately below the header.
Input Justification and Delivery information
You must provide an apparent reason for payment in this field, which is usually written below the payee information field. Also, the requisition requester would have a field to write their name and sign accordingly.
Provide a Funding Source Information
The field for funding source information must be generated. The ledger from which funds would be used should be clearly stated.
Approvals
The procurement officer or unit responsible for payment should have a space for their names and signatures. This field is usually provided as the last field on the payment requisition.
Payment Requisitions Form with Zapier – Guide
- Make a Zap
- PDF.co App and PDF Filler
- PDF Filler Configuration
- PDF.co Test and Result
- Payment Requisition Form Output
In this tutorial, we will show you how to fill out the Payment Requisition Form using PDF.co and Zapier. We will use the sample Payment Requisition Form below and fill out all of its fillable fields.
Step 1: Make a Zap
First, click the Make a Zap button to create a zap.
Step 2: PDF.co App and PDF Filler
Next, select the PDF.co app for the App Event and choose the PDF Filler to fill out the Payment Requisition Form.
Step 3: PDF Filler Configuration
Now, let’s configure the PDF Filler to perform the zap.
- In the Source PDF field, type the source PDF link.
- In the Fillable Fields field, enter the page index, the name, and the value field. To get the field names in a fillable PDF form, you can use the Get PDF Info tool. You can access it in your PDF.co dashboard or try it using this direct link.
We can now send a request to PDF.co to make sure that we set up the PDF Filler correctly.
Step 4: PDF.co Test and Result
Awesome! PDF.co processed our request successfully.
Step 5: Payment Requisition Form Output
Here’s the Payment Requisition Form that we filled out using the PDF.co PDF Filler module.
In this tutorial, you learned how to fill out the Payment Requisition Form using PDF.co and Zapier. You learned how to set up the PDF.co PDF Filler module to fill in an interactive PDF form. You also learned about the easy-to-use Get PDF Info tool to get the fillable field’s names.