Receive Inventory and Payments

         Purchases/Receive Inventory

After recording the purchase order, next step is to record the Receive Inventory.

è Go to Task Menu and select the Purchase/Receive Inventory as shown below in the figure.

è A new window will appear like below.

è  Enter the Vendor ID if you have already saved in the list by clicking on look button and select it.

è  If you didn’t saved any vendor yet make a new vendor account by double clicking in vendor name box, a new window of vendor will appear as we told you before in maintain vendor Account. Make a new vendor and then select it.

è Here you will select the date on which inventory would received. That date should be matched with the Good Thru” “

è  Invoice number is compulsory you can give any number in sequence.

è Here you will select the tab “Apply to purchase Order No.:”

è Then select the purchase order No “0004” as shown in the given figure.

è Now enter the quantity of inventory received and unit price.

                         Payments

After recording the Receive Inventory, next step is the payment of the Goods recieved.

è Go to Task Menu and select the Payments as shown below in the figure.

è A new window will appear like below.

è  Enter the Vendor ID if you have already saved in the list by clicking on look button and select it.

è  If you didn’t saved any vendor yet make a new vendor account by double clicking in vendor name box, a new window of vendor will appear as we told you before in maintain vendor Account. Make a new vendor and then select it.

è Here you need to enter the “Check Number” and “Date” which is must. If you are paying the amount in the discounting period then you will be allowed discount and it will appear in the discount column

è Here you can see the invoice number, date Due, Amount Due and discount.

è Here you need to check the “Pay” box.

è If you are doing payment in the discounting period then “Discount Account” will appear and choose the income account by clicking n the look button.

How to create Purchase Orders

            How to create Purchase Orders

Purchase order, where we record the orders which are made to the vendors. Therefore we required the Vendor Id to fill up the purchase order. If the vendor Id is not already exist then you have to create it before recording any order regarding to the vendor.

First of all go to the Task menu and select Purchase Order.

A new window will open as given below.

There are some important things that need to be filled compulsory as given below:

·         Vendor ID

·         Date

·         Good Thru

·         PO No

·         Quantity

·         Unit Price

Vendor ID: Here you need to enter the vendor id to whom the purchase order would have given.

Date: You need to select the current date at which you are placing an order, if it is not then you have to change it.

Good Thru: Select the date at which you want to receive the order. It would be a days or a couple of months.

PO No: It is very compulsory to enter the purchase order number for further process. You can modify it by your ordering sequence.

Quantity: In this box type the quantity of units that is going to order.

Unit Price: Here you will give the price on which a unit is purchased.