The Purchase Process Life Cycle
The Purchase Order Life Cycle Is The Set Of Key Steps
Involved In Processing A Purchase Order. It Begins
With An Approved Purchase Requisition, For The Supply Of Goods, The Items,
Quantities.
Purchase Cycle
1 Purchase Order
2 Receipt Note
3 Rejection Out (Sale Return )
4 Purchase
5 Payment
6 Debit Note
What Is Purchase Order Entry?
A Purchase Order Is A Document Buyers Use To Place An
Order With A Seller, Or Supplier. Generally, Purchase Orders Are Legally Binding
Documents After The Seller Accepts The Agreement.
Example Shown As Below In Image, Here You Have To
Pass A Purchase Order Voucher To Basant
Computer Communication.
1 Purchase Order
Create Following Stock Item And Pass A Purchase Order
Voucher.
Gateway Of Tally >>
Voucher >> F10 (For Other Voucher) >> Select Purchase Order
What Is Receipt Note?
A Receipt Note Voucher Is Used To Record Receipt Of
Goods/Items At Stores. For Example , The Company Receives New Stock Item From A
Supplier.
2 Receipt Note
What Is Rejection Out
The Rejections Out Voucher Records Goods That Are
Rejected And Returned To A Supplier.
3 Rejection Out (Purchase Return )
What Is Purchase Voucher In Tally ?
Purchase Vouchers Is Used When You Have To Purchase
Some Goods From Any Party And You Get An Invoice Against Cash Or Credit
Purchase From The Party.
4 Purchase
What Is Payment Voucher ?
Payment Voucher Is Used To Account All The Payments
Made By The Company By Way Of Cash/Bank. Payment Voucher Can Be Passed Using Single
Entry Or Double Entry Mode.
5 Payment
Payment Voucher Is Used To Account All The Payments
Made By The Company By Way Of Cash/Bank. Payment Voucher Can Be Passed Using Single
Entry Or Double Entry Mode.
What Is Debit Note
Debit Note Is A Document Which Is Issued To A Party
Stating That You Are Debiting Their Account In Your Books Of Accounts.
Debit Note Is A Document Informing The Seller By The
Purchaser That He Is Debiting Seller Account In His Books Of Accounts Due To
Some Reasons.
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