What is a document issued by a buyer to a seller that outlines purchase details called?

The term that describes a document issued by a buyer to a seller, outlining the specifics of a purchase, is known as a purchase order. This document is essential in business transactions as it serves multiple purposes. It formalizes the buyer's intent to purchase goods or services, including details such as item descriptions, quantities, prices, and delivery requirements.

The purchase order acts as a legal offer to buy, allowing the seller to acknowledge acceptance of the terms stated. Once the seller confirms the purchase order, it becomes a binding agreement between the two parties for the transaction, ensuring clarity and reducing the potential for misunderstandings regarding the order.

While invoices, receipts, and contracts pertain to financial transactions and agreements, they serve different functions. An invoice is typically issued by the seller to request payment after goods or services have been delivered, a receipt serves as proof of payment, and a contract outlines the broader terms and conditions governing an agreement between parties but does not specifically act as an order for goods or services like a purchase order does.