Managing Purchase / Assets Invoicing

Once vendors have delivered their goods - whether they form a part of the inventory or are non-inventory goods - an invoice must be raised to make payments for the goods received. Similarly, returning goods to vendors also requires a return invoice to be made. The vendor's invoice will include the quantities of the items provided, brief descriptions, unit prices, amount due, credit terms, where to remit payment, etc.

Purchase Invoice closes the inventory entry and makes it possible for payments to be made to the Vendor.

Purchase Return, on the other hand, is related to calculate amounts to be received by the buyer against goods returned to the Vendor due to quality and / or price issues.

Purchase Service Invoice (against order) is raised for services which have been formally ordered and received.

Purchase Service Invoice (Adhoc) makes it possible to make payments for services to run the organization’s business, procured on the fly, without raising an order.

Purchase Debit Note is raised, on buyer side, to handle the human errors done by vendors.

Purchase Credit Note is raised, on vendor side, to handle the human errors done by buyers.