Record purchases, receiving and vendor balances

Step by step

1. Create or select the vendor with the correct identity and contact details. Search existing vendor records first.
2. Create the purchase and select the actual products, quantities and prices. Review discount and tax entry mode before saving.
3. Receive the quantity that physically arrived into the correct location. Review the receipt before posting stock.
4. Review cost: purchase price less applicable discount plus product-cost tax. Landed Cost also includes allocated inbound freight when enabled.
5. Record vendor payment through the supported payment workflow using the actual cash or bank account, then review the vendor ledger and receipt history.

Common question

Does changing costing settings rewrite old stock costs?

Simple or Landed Cost changes apply to future stock receipts. Existing received FIFO cost is not rewritten by changing that setting.

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