when we issue purchase invoice, means we bought from supplier , on the account, what item should we put?
Firstly you create Purchase Invoices based on your Suppliers Invoice, you don’t issue purchase invoices.
Secondly, what did you buy from the supplier? If is was a computer printer, you would put it to Computer Equipment. If you purchased stationery, you would put it to Office Supplies. Therefore the account selected relates to the purchased item.
Ok. If i bought the stock from the supplier and sell to to my customer, how to put the account into it?
lets say i am the shop selling the fertilizer in trading, i have to purchase it from my supplier then only sell to to my customer. when i purchase from the supplier, i will create the purchase invoice, then i only create sales invoice to bill my customer, m i right?
You would create the stock item under Inventory Items. Then your purchase invoice would be allocated to account - Inventory on Hand - you can either scroll down to it or start typing it in the panel . After this you select the stock item.
Yes you are correct with “when i purchase from the supplier, i will create the purchase invoice, then i only create sales invoice to bill my customer”
why my net profit still is the amount same with the sales invoice?
i buy $$1200 from suppliar, and sold to client at $$1845… but my net profit should be RM645, why the colum net profit still shown $1845?
It looks like you have $1,200 in
Suspense. It means you didn’t enter purchase invoice correctly. Show screenshot of purchase invoice to see what you’ve done.
You haven’t nominated any Inventory Items - the second box - these would have been created under the Inventory Items tab
hi, i bought & direct sold, i never hold the stock in hand…why i need to put in the inventory on hand?
You don’t have to… the fact you have enabled
Inventory Items tab, it implies you want to use inventory module. If you don’t want to use inventory module, disable the tab and use some general expense account and don’t use
Inventory on hand account when purchasing goods.
am i need go to the expense tab and create “purchase” tab?
i think should put in at “purchase” button but i cant find anything at the colum
You need to create a P&L “Purchases” account. Go to Settings - Chart of Accounts and under P&L - New Account. Call it Purchases and select Group Expenses.