Purchase Department Workflow in FalconPro Real Estate Software: Complete Guide

Purchase Department Workflow in FalconPro Real Estate Software: Complete Guide

Introduction

Managing procurement is streamlined in FalconPro Real Estate Software through a multi-step workflow encompassing item setup, purchase requisition, supplier management, purchase orders, material delivery, inventory control, and expense management. This guide covers each step, ensuring accurate, transparent, and efficient purchasing for property and operations managers.

Primary Setup Steps

1. Administration & Master File Setup

  • Location/Store Setup:
    Define all storage locations and stores in the system.

  • Item Groups & Units:
    Set up item groups (e.g., electronics, plumbing) and units of measurement (e.g., pieces, meters).

  • Store Users:
    Add users authorized to access and manage specific stores.

  • Material Setup:
    Add all items and materials to be used or managed, assigning each an item group and unit.

  • Opening Balances:
    When adding materials, enter the starting quantity for each store.

Purchase and Inventory Operations

2. Material Purchase Request

  • Create requests for items to be purchased, specifying details for approval and processing.

  • Multi-Item Selection:
    Select one or more items for purchase. Assign items to specific buildings, units, or entire properties.

  • Request Details:
    Enter required quantity and request date (immediate, 1 week, etc.).

  • Reminders:
    Add reminders for other users regarding the request if approvals or follow-ups are necessary.

  • Quotation Handling:

    • Receive multiple quotations from different suppliers.

    • Compare prices and offers within the system, which highlights the most competitive option.

  • Approval Workflow:
    Once approved, requests are color-coded green to indicate readiness for the next step.

3. Local Purchase Order (LPO) Creation

  • Generating LPOs:

    • Create LPOs by selecting the approved material request and the chosen supplier.

    • Enter terms, conditions, and attach related files or notes.

  • Tracking:
    Save and track the status of each LPO, including partially fulfilled orders.

4. Delivery from Supplier

  • Material Receipt:

    • Select the relevant LPO and mark items as delivered.

    • Update store balances automatically as items are received.

    • Part deliveries are supported; remaining items stay pending for additional deliveries.

  • Reversals:
    Should a delivery need to be reversed or items returned, use the material return functions.

5. Issuing Materials and Store Requests

  • Material Requests from Store:
    Departments such as maintenance can request items from the store for specific properties, units, or purposes.

  • Issue Materials:

    • Approve and issue materials, designating recipient, location, and quantity.

    • If an item is out of stock, the system will prompt to address the issue.

  • Returns to Store:

    • Return unused or surplus items to the store, updating stock automatically.

6. Material Sales (If Trading)

  • Sales Processing:

    • Sell inventory items if your business model includes trading.

    • Generate sales invoices and receive payments as needed.

Reporting and Accountability

  • Audit Trails:
    All transactions—material setup, requisitions, LPOs, deliveries, issues, and returns—are fully logged and traceable.

  • Inventory Reports:

    • Item Limit Report: Tracks all items, their stock levels, and limits.

    • Transaction Reports: Show all issues, deliveries, returns, and adjustments.

  • Payment Processing:
    Automatically generate supplier payable invoices from deliveries. Approve and process payments as per normal finance workflows.

Summary Table of Main Cycles

Step Action Outcome
1. Material Setup Add item details & stock Materials and opening balances in stores
2. Purchase Request Request and approve materials Triggers supplier quotations and purchase process
3. LPO Creation Generate order to supplier Formalizes commitment, triggers delivery tracking
4. Delivery Receipt Receive and record items Increases inventory levels, sets up payable invoice
5. Issue Materials Approve and deliver items Updates stock, links to maintenance or project
6. Return Processing Return/record unused items Inventory integrity and audit readiness
7. Material Sale (If applicable) Sell items Supports trading workflows and revenue capture

Best Practices

  • Set up detailed item groups and units for comprehensive control.

  • Always approve purchase requests and quotations before generating LPOs.

  • Track all deliveries and link them to relevant LPOs for complete reconciliation.

  • Use reminders and approval workflows to ensure no step is missed.

  • Utilize system reports to monitor stock, process efficiency, and pending actions.

Frequently Asked Questions (FAQ)

Q1: Can I process part-deliveries from suppliers?
Yes, partial receipts are supported, with undelivered quantities remaining pending.

Q2: How do I handle multiple quotations?
Input all supplier quotations for an item; the system provides side-by-side price comparisons and highlights the best offer.

Q3: What if items need to be returned?
Use the material return feature for returns to suppliers or back to store, ensuring stock accuracy.

Q4: Is it possible to sell inventory items?
Yes, through the material sale module, supporting companies with trading operations.

Q5: How are payments handled?
After receiving items, create a payable invoice linked to the delivery and process payments via the standard accounting workflow.

Important Links