The Daily Purchase Process manages the day-to-day purchasing activities in the system, from recording purchase requirements through receiving materials and maintaining purchase records.
Purchase Process
1. Create Purchase Order
Create a Purchase Order for the required items and select the appropriate vendor. Enter the item details, quantities, rates, taxes, delivery information, and other required purchase details.
2. Purchase Order Approval
Review the Purchase Order details and complete the required approval process. Once approved, the order can proceed to the receiving and purchase stages.
3. Receive Materials
When materials are received from the vendor, create a Goods Received Note (GRN) against the relevant Purchase Order. Record the received items, quantities, warehouse, and other applicable details.
4. Record Purchase Invoice
Create the Purchase Invoice for the materials received. Select the vendor and enter the invoice details, item quantities, rates, taxes, and applicable charges.
5. Verify Purchase Details
Verify the Purchase Order, GRN, and Purchase Invoice to ensure that the vendor, items, quantities, values, taxes, and other details are consistent.
6. Update Inventory
Once the material receipt is completed, the received quantities are reflected in the relevant warehouse inventory. The stock can then be used for production or other inventory activities.
Purchase Reports
The purchase process can be reviewed through reports such as:
- Purchase By Vendor – Provides purchase information grouped by vendor.
- Purchase By Item – Provides purchase information based on individual items.
- Goods Received Notes – Displays details of materials received against purchases.