Purchase discounts can mean greater savings for both the department and the retailer. Most retailers pay vendor invoices through their accounts payable (AP) departments. It is important that you as a buyer efficiently manage invoices by communicating with the AP department to ensure that timely payments are being made to your vendors.
Assignment Details
You have received several invoices from one of your top vendors and need to perform calculations to determine potential cost savings based on purchase discounts available. This spreadsheet will prove to be an effective tool to communicate cost benefits to your AP department.
Use the Excel spreadsheet provided to calculate and record the savings that are available to your company for each invoice. You must first determine the discount end date using the terms provided so that your AP department is aware of deadlines in advance. Next, using the discount terms, calculate the potential cost savings for each invoice.
Along with the completed spreadsheet, please provide a 1 page report explaining the spreadsheet in details. No reference required.
Please submit your assignment.
Adhere to APA formatting and reference guidelines when writing your response. Additionally, your response should be free of grammatical errors, use complete sentences, and give specific details to support statements.