16. Blanket POs
(Ability to create a blanket PO, which allows the company to create a ongoing PO for a standing order or standing service over a period of time
Example - lawn service over the span of a year, a to be invoiced every 30 days, for $150 per)
We can achieve this by using a concept called Memorized Transactions in SPS.
For Ex:
There is a Vendor PO with a value of $1800.00. It will be worked over the span of one year.
This PO needs to be Invoiced on a Monthly basis for $150 per invoice for the whole year.
First you will create a Vendor PO.
You will create the First month bill manually.
From the first bill, Mark it as Memorized Transaction.
If the logged in user has access to the memorized transactions and the date of the Bill falls behind, it will redirect the user to the Memorized Transactions screen. It will auto select the ones that need to be created on that day or past the date. User has to click on Create Selected Transactions. Bills created will be linked to the associated Vendor PO. It will redirect the user every day till all the past due ones are created.
