Purchase Management in FalconPro Real Estate Software: Complete Guide

Purchase Management in FalconPro Real Estate Software: Complete Guide

Introduction

FalconPro Real Estate Software offers a comprehensive purchase management module, enabling property managers and accountants to handle item setup, requisition, supplier management, purchase orders (LPOs), and payment processing efficiently. This guide covers the full workflow, from item creation to issuing payments, ensuring accurate procurement and inventory control.

Item and Master Setup

  • Item Setup:

    • Add items manually or import from Excel for bulk entry.

    • Define item groups, units of measurement, and locations (e.g., general store, issue location).

    • Use the master files to manage and update groups, units, and locations as needed.

  • Location Management:

    • Add multiple locations for storing and issuing items.

    • If only one location is needed, create a general store.

Requisition Workflow

  • Creating a Requisition:

    • Start with a requisition to list required items.

    • Specify who is requesting the items (office staff, maintenance, etc.).

    • Add item details, quantity, and clear descriptions for each request.

    • Assign the requisition to a company if managing multiple entities.

    • Save and print the requisition for approval and signature.

  • Approval Process:

    • Once created, requisitions must be approved by management.

    • Approved requisitions change status (e.g., from white to green) and are ready for purchase order creation.

Local Purchase Order (LPO) Creation

  • Generating LPOs:

    • After approval, create LPOs based on requisitions.

    • Select the supplier for each LPO.

    • Enter supplier details (name, contact, company, etc.) if not already in the system.

    • Specify quantities and prices for each item.

    • Save the LPO, which receives a unique number for tracking.

  • Multiple LPOs from One Requisition:

    • You can create several LPOs from a single requisition, each for different suppliers.

    • The system tracks which items have been ordered and from whom.

Supplier Management

  • Adding Suppliers:

    • Suppliers are added as contacts and categorized appropriately.

    • Include all relevant details: company name, contact person, mobile, email, and country.

    • Suppliers must be linked to LPOs for accurate tracking and payment.

Processing Deliveries and Payments

  • Receiving Items:

    • Update the status of LPOs as items are delivered (e.g., “processing”).

    • Attach delivery notes, invoices, or scanned documents to the requisition or LPO for record-keeping.

  • Handling Multiple LPOs and Payments:

    • If a supplier delivers items for multiple LPOs and requests a single payment, process each LPO separately but combine payments as needed.

    • The system allows tracking of payments against each LPO and supplier.

Documentation and Attachments

  • Quotations and Approvals:

    • Attach supplier quotations to requisitions for approval history.

    • Approved quotations are linked to the corresponding LPO.

    • Only the selected supplier is recorded in the LPO; other quotations remain as historical attachments.

  • Printing and Exporting:

    • Print requisitions and LPOs for signatures and records.

    • Export data for further analysis or compliance purposes.

Best Practices

  • Always provide clear item descriptions and remarks for easy filtering and searching.

  • Use the approval workflow to ensure all purchases are authorized.

  • Attach all relevant documents (quotations, delivery notes, invoices) for a complete audit trail.

  • Manage supplier and item data centrally to avoid duplication and errors.

  • Regularly review outstanding requisitions, LPOs, and payments for efficient procurement management.

Frequently Asked Questions (FAQ)

Q1: Can I import items in bulk?
Yes, items can be imported from Excel for faster setup.

Q2: How do I handle multiple suppliers for one requisition?
Create multiple LPOs from the same requisition, each assigned to a different supplier.

Q3: Can I attach quotations and delivery notes?
Yes, all related documents can be attached to requisitions and LPOs for full traceability.

Q4: How are payments tracked if a supplier delivers multiple LPOs?
Each LPO is processed separately, but payments can be combined and tracked against the supplier.

Q5: Can I manage multiple companies in the requisition process?
Yes, requisitions can be assigned to different companies for multi-entity management.

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