Purchase Invoice

Add Purchase Invoice

The Purchase Invoice feature allows you to record and manage invoices received from suppliers. This ensures proper tracking of accounts payable, maintains financial accuracy, and facilitates approval workflows. Matching can be usable between Purchase Requisition, PO, GRN/PD as well as Purchase Invoice.

Tax & Price Rules in Purchase Invoice:

1. Source Tax Rule:

Defines how tax is applied concerning VAT (Value-Added Tax):

• Source Tax Before VAT: Tax is calculated on the base price before applying VAT.

• Source Tax After VAT: Tax is calculated on the price after adding VAT.

2. Price Rule:

Specifies how VAT is treated in the pricing structure:

• VAT Tax Excluded: The product prices exclude VAT; it will be added separately.

• VAT Tax Included: The product prices already include VAT.

The Purchase Invoice Add Page

The Purchase Invoice Add Page simplifies invoice creation by allowing the automatic loading of data from relevant documents like Purchase Delivery (PD) or Goods Receipt Note (GRN). This ensures accuracy, reduces manual entry, and streamlines the invoice generation process.

Steps to Generate a Purchase Invoice:

1. Select PD/GRN: On the Purchase Invoice Add Page, use the combo box to select the relevant Purchase Delivery (PD) or Goods Receipt Note (GRN). This will auto-load all related information, including:

   • Vendor Information: Supplier name, contact details, and payment terms.
   • Product Details: Items received, quantities, unit prices, and totals.

2. Verify and Complete Fields: Ensure all auto-loaded data is correct. Manually fill in any additional fields, if necessary, such as:

   • Invoice Number
   • Invoice Date
   • Payment Terms

3. Save and Approve Invoice: Save the purchase invoice to validate the information. Submit the invoice for approval to finalize the accounting treatment.

Post-Approval Steps:

1. Accounting Treatment: Once approved, the invoice is processed for accounting, and the payable amount is recorded.

2. Vendor Ledger Update: Check the Vendor Ledger to view the updated account payable entry. The ledger will reflect the invoice details, including the due amount and payment status.

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Purchase Invoice List

The Purchase Invoice List Page provides a user-friendly interface for managing all purchase invoices. Key features include search fields like order no, supplier, from date, and to date. From the list page, you can manage the order status.