Latest Answer : Firstly the concerned department sends a requisition to Purchase Department.For that requisition Purchase Department searches for Available Suppliers ( Sometimes from Old Database or by New market research).With this information they discuss the requirement ...
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) ...
