Stage 2 - Purchases
You will need to make a record of when goods are
purchased from suppliers. For instance, goods may be
purchased from suppliers for resale to customers, or a company may
need to purchase extra raw materials or components which are needed
to make products for resale.
Credit Purchases
- Credit purchases are entered in the Purchase Ledger - Click on
the Suppliers menu and
select the Purchase
Invoice option.
- The next step is to complete the Purchase Invoice. This does
not produce a printed invoice - which should not be necessary as
you are recording the details of an invoice you have
received.
- Any transactions entered in the Purchase
Ledger will automatically be posted to the appropriate Nominal
Accounts.
Cash Purchases
- Cash Purchases can be entered in the Purchase Ledger under a
supplier account named 'Cash Purchases'. To record any cash
purchases, click on the Supplier menu and select the
Raise Purchase Invoice
option. Make sure that you select the 'Cash Purchases' account when
creating the invoice.
- No printed invoices are produced on the completion of a
Purchase Invoice.
Note
For any purchase of
stock items recorded on a Purchase Invoice you will also need to
make manual adjustments to the Stock Records via the Stock Ledger.
This is done via the Receive Goods
window.
Returns Outwards/Purchases Returns
- If you are returning previously bought goods to a supplier you
will need to enter a purchase Credit Note. The process for issuing
a purchase credit note is the same as that for issuing a purchase
invoice - only once you are in the invoice window simply select the
Invoice Type as
Credit Note instead of
invoice.
