Fixed Cost Service Requisitions

LAST UPDATED: February 4, 2015

What You Should Know

What is a Fixed Cost Service Requisition?

Fixed Cost Service Requisitions are for a one time service, or services being rendered incrementally over time.

Learn more about How to Create a Fixed Cost Service Requisition.

When to use a Fixed Cost Service Requisition

For recurring services, it may save time to create a standing fixed cost service requisition, sometimes referred to as a "standing order." This type of requisition can be used when there is an estimated cost for a recurring service that occurs periodically (weekly, monthly, etc.). The Fixed Cost Service Requisition can be created for the total expected service cost. Be sure to select the "Amount Only" option so receiving will be completed by the amount on the invoice.

Examples

Examples of Fixed Cost Service Requisitions include:

  • Maintenance, construction, consulting, and related services where a fixed budget is known and invoiced, but will vary and not be invoiced at a specific hourly rate.
  • Legal services with an outside party, where a variety of services may be bundled together and invoiced incrementally.
  • The purchase, shipping and installation of customized equipment, or goods specified in a quote that has an indefinite price at the time of purchase.
  • A recurring fee which the supplier will invoices several time – for instance editing, web development, writing, landscaping, minor utilities, etc.

Learn more about How to Create a Fixed Cost Service Requisition.


 

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