Buying stock from a supplier
| Step | Module | What changes |
|---|---|---|
| 1. Order | Purchase Order | Nothing yet. It's a record of what you ordered. |
| 2. (Optional) Pay a deposit | Payment (Down Payment) | Records the advance paid against the PO. |
| 3. Receive the goods | Purchase Inbound | Stock goes up when it's approved. You now owe the supplier. |
| 4. (Optional) Update prices | Update Prices Popup on the inbound, or Price Adjustment Request | Selling prices, if the cost changed. |
| 5. Pay the supplier | Payment | The amount owed goes down. |
Step by step
- Create and approve the purchase order. Open Purchase and Other Expense › Purchase Order, add the supplier and products, and approve it. See How to create a purchase order.
- When the goods arrive, receive them. In the PO list, tick the PO and click Create Purchase Inbound. Change the quantities to what actually arrived, then approve the inbound. If only part of the order arrived, receive the rest later on another inbound. The PO stays open until fully received.
- Check what's still outstanding with the Pending Purchases Report (see Pending Transaction Reports).
- Pay the supplier. Open Purchase and Other Expense › Payment, choose the supplier, add the inbounds with Purchase Inbound Selector, and record how you paid. Or click Create Payment on the approved inbound.
tip
You can skip the purchase order and go straight to a Purchase Inbound with Direct if you don't order in advance.
Related reports: Detail Purchase Order Report, Detail Purchase Inbound Report, Payment Due Warning, Supplier Product Price.