The "Purchasing" section is used for purchase transactions accounting.
Main documents of the section: Purchase Order, Invoice Received, Additional Expenses (are located in the "Purchasing Documents" subsection).
The Purchase Order registers your intention to purchase a specified amount of inventory/services from a supplier with the specified price.
The purchase of inventory/services itself is shown in the system by the "Invoice Received" document. Similar to the Invoice, you can create the Invoice Received individually, or based on the Purchase Order. The last method helps to avoid the data refilling.
In that documents, you can specify payment terms. In the future, you can control the terms compliance by specialized reports.
For accounting of expenses included to the cost price use the "Additional Expenses" document. E.g. it can be expenses on inventory delivery to your warehouse.
In the "Reports" subsection, you'll find reports containing information about purchases and mutual settlements with suppliers.
E.g. you can use the "Balance of Inventory" report to analyze the inventory quantity and cost by warehouses.
The "Purchasing" section contains such reports for analysis of:
- purchase orders completion;
- mutual settlements with suppliers;
- accounts payable aging.
You can also store the information about inventory/services purchase prices by suppliers in the system.