Purchase/Stock In Process

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The Goods are supplied by supplier to the buyer, in terms of Purchase Order issued by the Buyer

 

bullet01 Delivery of Goods by Supplier : The supplier supplies the goods as per Purchase Order and submits an Invoice (suppliers Sales Invoice) as per terms of Purchase Order, This becomes Purchase Invoice for the Buyer. Sometimes,the supplier submits Delivery Challan at the time of supply (which becomes Goods Receipt Note for the Buyer) and submits Invoice later on.

 

bullet01 Receipt of Goods by Buyer : The goods are Received after inspection and counting. The accepted goods are taken into stock.

 

bullet01 Recording of Receipt of Goods : The particulars of quantity and value of goods received and accepted are entered through Purchase Invoice Entry (if the supplier does not submit an Invoice,the Items Rates and other charges (taxes etc) are picked up as per Purchase Order. This entry affects Inventory (Stock is increased) and Accounts Ledgers (Purchase Account Debited and Suppliers Account Credited).

 

bullet01 Return of Goods by Buyer to Supplier : Normally, the Purchase Invoice is entered for the accepted quantity only. Unaccepted goods are returned to supplier. However,for keeping proper and complete accounting records and to keep the buyers accounts in sync with the suppliers accounts, the suppliers sales invoice is entered as Purchase Invoice. For rejection or other reasons, the buyer makes a Purchase Return of rejected or unaccepted goods,or other value deductions. This entry is just a reverse entry of Purchase Invoice and affects Inventory (Stock is decreased) and Accounts Ledgers (Purchase Account Credited and Suppliers Account Debited) in reverse way.

 

 

Tasks covered in this section


 

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Order Processing


bullet-arrow2 Purchase Order

 

 

 

 

 

 

 

 Transactions


bullet-arrow2 Purchase Challan

 

bullet-arrow2 Purchase Invoice

 

bullet-arrow2 Purchase Return

 

bullet-arrow2 Receipt Register

 Quality Control Process


bullet-arrow2   Stock Transfer- Lot Wise

 

bullet-arrow2   Stock Transfer- Godown Wise

 

bullet-arrow2   Branch Transfer In