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A PO can be closed from the “Close PO” menu, if there is a change in requirement and that PO is not required anymore.      

PO Approver can hold a PO, and ask for some additional information (Reason/ Justification of his requirement) from the PO raiser before its approval. Once a PO is ‘Hold for Additional Info’ that can be replied by the raiser from the “All Hold PO for Additional Info” menu. That PO again come for approval with the additional info provided by the raiser.