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Version: 1.95

Purchase

A Purchase is an accounting document used to record a purchase transaction. It serves as proof of payment or liability for goods and services acquired by a business.

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To access the Purchase, go to: > Home > Application > Finance > Operations > Purchase

How can I get Benefit ?​

ValueBot offers a useful feature for Accounting through Purchase

  • Proper Record-Keeping : Maintains a clear and organized record of all purchase transactions, helping in financial tracking and audits.
  • Prevents Errors & Fraud : Ensures accuracy in purchase entries and prevents unauthorized transactions by requiring approvals.
  • Tax Compliance : Helps in calculating input tax credits (GST/VAT) and ensures proper documentation for tax filings.
  • Easy Supplier Payment Management : Tracks outstanding payments for credit purchases, avoiding missed or duplicate payments.
  • Improves Financial Reporting : Provides accurate data for preparing profit & loss statements, balance sheets, and cash flow reports.

Properties​

Primary Properties​

PropertyDescription
Voucher NoVoucher Entry Number will generate default
DateDate refers the Transaction date
Reference NoCan Enter other references number related to Voucher
To CreditSelect Purchase Account from list
AmountEnter the amount you want to post to Purchase Account
NarrationCan Enter information related to Voucher

Line wise Properties​

PropertyDescription
TypeIf we select 'To-Credit,' the amount will be posted to the credited account
TypeIf we select 'To-Debit,' the amount will be posted to the debited account
LedgerYou Can Select Vendor Account ledger from list
AmountEnter the amount you need to post to the ledger

Create New Purchase Voucher​

  • Go to the Purchase

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  • You can observe Voucher Number is generated by default.
  • Under the To Credit you can pick the Purchase Account from the list you have already created.
  • Enter the Purchased Amount.
  • Click Add New, select account ledger and enter the amount.

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  • Enter any additional information in the Narration field for your reference.
  • Click Save

Edit a Purchase Voucher​

  • Go to the Ledger Summary
  • Select Account Ledger and Choose the transaction

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  • Make Necessary changes
  • Click Save

Delete a Purchase Voucher​

  • Go to the Ledger Summary
  • Select Account Ledger and Choose the transaction

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  • Click Delete
warning

Deleting a Purchase from the ledger will cause a variation in the closing balance.

See Also​