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 (Purchase 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.
Assignment No 01
Assignment No 02
Assignment No 03
Assignment No 04
