Purchase Cycle In Tally | Purchase Order, Receipt Note, Reject, Debit Note

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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