Managing Purchase Receipts in iVendNext: A Step-by-Step Guide

Managing Purchase Receipts in iVendNext: A Step-by-Step Guide

Introduction

Purchase Receipts in iVendNext serve as a critical checkpoint between ordering goods from suppliers and updating your inventory records. They ensure accurate stock tracking, quality control, and financial accountability. This guide walks you through creating, managing, and troubleshooting Purchase Receipts for seamless procurement operations.



1. What is a Purchase Receipt?

A Purchase Receipt is a document that:
✔ Confirms physical receipt of goods from a supplier.
✔ Updates stock quantities in your warehouse.
✔ Tracks accepted vs. rejected items.
✔ Serves as the basis for billing via Purchase Invoice.


Key Workflow:
Purchase Order → Purchase Receipt → Purchase Invoice




2. Creating a Purchase Receipt

Method 1: From a Purchase Order (Recommended)

  1. Navigate to Home > Stock > Purchase Receipt.

  2. Click "Add Purchase Receipt" and select the linked Purchase Order.

  3. The system auto-fills item details (quantity, rate, warehouse).

  4. Modify Accepted/Rejected quantities if needed.

  5. Save & Submit.


Method 2: Manual Entry (Without PO)

  1. Go to Home > Stock > Purchase Receipt > "Add Purchase Receipt".

  2. Enter:

    • Supplier

    • Items (with quantities and rates)

    • Warehouse (Accepted/Rejected)

  3. Save & Submit.



3. Key Fields in a Purchase Receipt

Field

Purpose

Accepted Warehouse

Where good-quality stock is stored.

Rejected Warehouse

Holds defective/returnable items.

Serial/Batch Nos.

Track items with serial/batch numbers.

Quality Inspection

Mandatory if enabled in Item Master.

"Stock Received but Not Billed"

Temporary liability account for unbilled stock.




4. Handling Partial Receipts & Rejections

Partial Deliveries

  • Adjust the Accepted Quantity to match what was received.

  • The system updates the Pending Quantity in the Purchase Order.


Rejected Items

  1. Enter the Rejected Quantity in the Purchase Receipt.

  2. Assign a Rejected Warehouse (e.g., "Defective Stock").

  3. The system excludes rejected items from inventory valuation.


IdeaPro Tip: Use Quality Inspection to document rejection reasons.



5. Accounting Impact of Purchase Receipts

When you submit a Purchase Receipt:


  • Debit: Warehouse Account (stock increases).

  • Credit: "Stock Received but Not Billed" (temporary liability).


Once billed via Purchase Invoice:


  • Debit: "Stock Received but Not Billed" (clears liability).

  • Credit: Supplier Account (payable).


This prevents double-counting expenses.



6. Purchase Receipt Statuses

Status

Description

Draft

Saved but not submitted.

To Bill

Received but not yet invoiced.

Completed

Fully received and billed.

Cancelled

Receipt voided.

Closed

Partially closed (e.g., ordered 20, received 15, closed for remaining 5).



7. Troubleshooting Common Issues

Issue

Solution

"Quality Inspection Required"

Enable inspections in Item Master > Quality Tab.

"Serial/Batch Missing"

Enter serial/batch numbers for tracked items.

"No Linked Purchase Order"

Enable "Allow PO-less Receipts" in Buying Settings.



8. Best Practices

✅ Use Purchase Orders – Maintains audit trails.
✅ Inspect Goods on Arrival – Reduces rejections.
✅ Reconcile "Stock Received but Not Billed" – Ensures accurate financials.
✅ Leverage Putaway Rules – Auto-assigns storage locations.



Conclusion

Purchase Receipts bridge the gap between procurement and inventory management in iVendNext. By following this guide, businesses can ensure accurate stock updates, minimize discrepancies, and streamline supplier billing.



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