Latest Answer : user creates a purchase requisition(PR) then it must be approved by his head of department(HOD)then PR is directed towards store if they have that material then it will be issuedif not , then it direct towards purchase department keeping in mind the budget ...
How to account freight cost, handling charges,purchase tax at the time of raising a Purchase Order?For example:Item to be procured= AQuantity to be procured= 10Unit Rate= 100Inward freight cost for 10 quantity (known at the time of raising PO )= Rs. 1000Handling Charges= Rs. 500Input Tax = @ 10% (on base price)
When setting up Purchase items for overhead expenses (G&A expenses) what expense GL account do you use, and what sales account GL do you use? Also, what are roll up accounts in the chart of accounts?
What are some common question asked about purchase orders?
What entry is recorded when $75.00 worth of supplies are purchased on account?
Latest Answer : Purchasing good two kinds of entry either Cash or Credit.If Cash Purchase A/c----Dr xx To Cash A/c (Being good purchase on cash)If Credit Purchase A/c----DrTo Supplier A/c (Being goods purchase on Credit) ...