Flexible spending purchase orders need to be enabled by Knowify's support team. Please email email@example.com to get access.
Flexible spending is a type of purchase order that is closed based on a dollar figure billed instead of a quantity. The standard itemized purchase order is closed when a vendor sends a bill for each unit in the PO. The flexible spending purchase order is closed when a vendor sends a bill for each dollar in the PO.
For example, this is an itemized purchase order for 10 widgets for a total of $1000:
If the widgets end up costing $200/widgets and a bill comes in for 5 units (total of $1000 bill):
The PO will still be open since there are still 5 widgets outstanding next time you log a bill against this PO:
However in a flexible spending purchase order, the bill is closed when the dollar figure has been completely billed, and there is no relevant quantity. So if there is a flexible spending PO for $1000:
And a bill is logged against the PO for $700:
Then the next time you log a bill, it will prompt for the $300 balance: