Overview

This article outlines the steps to create and manage Purchase Receipts and update stock levels in iVendNext.

1. What is a Purchase Receipt?

A Purchase Receipt is a document that confirms the receipt of goods from a supplier. It serves as proof that the items delivered match the Purchase Order and updates your inventory system with the received quantities. Purchase Receipts are essential for maintaining accurate stock levels and ensuring that your financial records reflect the actual goods received.

Key Components of a Purchase Receipt:

• Supplier Details: The name and contact information of the supplier.

• Item Details: The items received, including quantities, rates, and descriptions.

• Accepted and Rejected Quantities: The quantities of items accepted and rejected (if any).

• Stock Updates: The system automatically updates the stock levels based on the received quantities.

2. How to Create a Purchase Receipt

Creating a Purchase Receipt in iVendNext is a straightforward process. Follow these steps to create a new Purchase Receipt:

Step 1: Navigate to the Purchase Receipt Section

1. Go to Home > Stock > Purchase Receipt.

2. Click on the Add Purchase Receipt button to open the Purchase Receipt Creation screen.

Step 2: Fill in the Details

1. Select the Supplier: Choose the supplier from whom you received the goods.

2. Link to Purchase Order: If the goods are received against a Purchase Order, link the Purchase Receipt to the corresponding Purchase Order.

3. Add Items: Enter the item codes, quantities received, and rates. The system will fetch the item details from the Item Master.

4. Set Accepted and Rejected Quantities: Specify the quantities of items accepted and rejected (if any). Rejected items can be sent to a rejected warehouse.

5. Add Taxes and Charges: If applicable, add any additional taxes or charges, such as shipping or insurance.

Step 3: Save and Submit

1. Once all the details are filled in, click the Save button to create the Purchase Receipt.

2. After reviewing the details, click Submit to finalize the Purchase Receipt.

3. Managing Purchase Receipts

Once a Purchase Receipt is created, it can be managed effectively using iVendNext. Here’s how you can manage Purchase Receipts:

3.1 Tracking Purchase Receipts

iVendNext allows you to track the status of Purchase Receipts, ensuring that you have a clear overview of all your procurement activities.

• Statuses: Purchase Receipts can have different statuses, such as Draft, Submitted, Completed, or Closed.

• History: You can view the history of each Purchase Receipt, including any changes or updates made.

3.2 Handling Rejected Items

In some cases, you may receive defective or incorrect items. iVendNext allows you to handle rejected items by specifying the rejected quantities and sending them to a rejected warehouse.

1. Open the Purchase Receipt.

2. Enter the quantities of items rejected.

3. Specify the rejected warehouse where the defective items will be stored.

4. Save and submit the Purchase Receipt.

3.3 Updating Stock Levels

When a Purchase Receipt is submitted, iVendNext automatically updates the stock levels in your inventory system. This ensures that your stock levels are always accurate and up-to-date.

• Real-Time Updates: Stock levels are updated in real-time as goods are received.

• Warehouse Management: Items are allocated to the correct warehouse based on the Purchase Receipt.

4. Key Features of Purchase Receipts

4.1 Accepted and Rejected Quantities

Purchase Receipts allow you to specify the quantities of items accepted and rejected. This ensures that your inventory records reflect the actual goods received.

• Accepted Quantities: The quantities of items accepted and added to your inventory.

• Rejected Quantities: The quantities of items rejected and sent to a rejected warehouse.

4.2 Taxes and Charges

If your supplier charges additional taxes or fees (e.g., shipping, insurance), you can add these to the Purchase Receipt. This ensures that you have a complete understanding of the total cost.

• Tax Templates: You can use tax templates to automatically apply the correct taxes to the Purchase Receipt.

• Charges: Additional charges, such as shipping or handling fees, can be added manually.

4.3 Linking to Purchase Orders

Purchase Receipts can be linked to Purchase Orders, ensuring that the receipt of goods is aligned with the original order.

1. Open the Purchase Order.

2. Click on the Create Purchase Receipt button.

3. The system will automatically populate the item details from the Purchase Order.