Checklist of Verifying Quotation from Vendors

Checklist of Verifying Quotation from Vendors from the purview of Finance & Accounts Department

In this article, we will tell you what need to check and verify if you received quotations from different vendors in Finance & Accounts department and how you can select the L1 vendor. Below are the Checklist of verifying quotation from vendors. 

All the checkpoints are required in the best interest of the company. These checkpoints are not the exclusive list. Other points can also be considered depends upon the companies policy and rules.

Download links to the below checklist in excel are also attached below.

M/S ABC Ltd.
Quotation Checklist (by F&A department)
S.No.	Checkpoints	Yes	No
1	Atleast 3 vendors quotation is available or not for comparison statement.
2	All the quotation should be in original letterhead (sealed & signed) by the vendors
3	GST registration certificate is also required for all the vendors
4	Price quoted by the vendor shall be clearly shown
5	Price quoted by the vendor includes all applicable taxes for making better comparison
6	Other expense like freight, insurance shall be also mentioned in the quotation
7	Delivery time shall also be cleared
8	Discount applicable or not
9	Last Purchase price will be shown against each item (In case of  first time expense, LPP may be skip or can be open market value)
10	Proposal shall be approved by Head Procurement before handover to F&A
11	Return policy applicable or not in case of defective items
12	Scrutiny of Mutual Vendors Proprietary
Checked By
(Finance & Accounts Department)

DOWNLOAD THIS CHECKLIST IN EXCEL AND USE: CLICK HERE

JOIN OUR CHANNEL/GROUP FOR REGULAR UPDATES

On Telegram:

• Join our Telegram group for GST Updates (Ranked Top on Google): Click Here

• Join our Telegram group for Income Tax Updates: Click here

• Join our Telegram group for all Statutory Updates: Click here

• Join our Telegram group for Finance Updates: Click here

• Join our Telegram group for Accounts Updates: Click here

• Join our Telegram Channel for GST, Income Tax Discussion & Queries: Click here

• Join our Telegram group for Wholetubermanish overall Website updates: Click here

On Whatsapp:

• Join our GST Income Tax Update WM1: Click here

• Join our GST Income Tax Update WM2: Click here

• Join our CA Fraternity: Click here

On Facebook:

• Join our GST, Income Tax, Accounts, Audit & Finance Updates Group: Click here

• Like our Wholetubermanish FB page for overall Website updates: Click here

(We committed to deliver you the very best of knowledgeable content without even a single spamming)

If you want to submit your articles and featured your name on our website, Submit your article here or you can mail us at contact@wholetubermanish.in.

Please allow push notification from our website and subscribe to our E-mail newsletter so that you won't miss any important updates from us.

FOLLOW US ON OUR SOCIAL MEDIA HANDLES FOR REGULAR UPDATES

Instagram 🔴 YouTube 🔴 Facebook 🔴 Twitter 🔴 Linkedin 🔴 Pinterest 🔴 Reddit