Purchaser
Financial Dictionary — Procurement & Purchasing
Definition
It is the person or company that made the purchase from the company, and it is classified by accounts under customer accounts, accounts receivable, or debit commercial accounts.
Use cases, Example & Why it matters
Use cases
- Used in the purchase-to-pay cycle to validate invoices, approvals, and supporting documents.
- Used to strengthen internal controls over purchasing and supplier payments.
- Used to strengthen internal controls over purchasing and supplier payments.
Example
- Example: Before payment, the AP team applies **Purchaser** to confirm the invoice matches the approved purchase documentation.
Why it matters
- Why it matters: Prevents incorrect/duplicate payments, reduces fraud risk, and improves accuracy of payables and expenses.