Skip to main content
A
aiyub
October 19, 2018
Solved

Purchase order and bill

  • October 19, 2018
  • 1 reply
  • 0 views

We are a manufacturer of frozen foods. we want to add finished product as an inventory. For this, I would create a purchase order and convert to bill. This would then ask to make the payment for that bill to the supplier and this would also reflect the balance sheet with an outstanding creditor and current liability. 

We want to add finished product to the inventory so we can make sales invoices. 

any idea how we can create purchase orders but not to reflect this in balance sheet? 

Thanks

      Best answer by Rustler

      @ Alyub

      A PO is non posting, so it does nothing to the accounting.

      This is accounting, a bill posts to accounts payable and what ever account or item in inventory is listed on the bill.  There is no way around that.

      I do not know if international versions always have inventory, but if you do then good, turn it on (qty tracking) in company settings and insure that in company settings>expenses>bills & expenses turn on the items table and purchase orders. 

      Then when you enter an expense or bill, about half way down the left side is a title "item Details" click that and a table opens where you can select the item, qty and item total cost for purchasing inventory



      1 reply

      Rustler
      RustlerAnswer
      October 19, 2018

      @ Alyub

      A PO is non posting, so it does nothing to the accounting.

      This is accounting, a bill posts to accounts payable and what ever account or item in inventory is listed on the bill.  There is no way around that.

      I do not know if international versions always have inventory, but if you do then good, turn it on (qty tracking) in company settings and insure that in company settings>expenses>bills & expenses turn on the items table and purchase orders. 

      Then when you enter an expense or bill, about half way down the left side is a title "item Details" click that and a table opens where you can select the item, qty and item total cost for purchasing inventory



      A
      aiyubAuthor
      October 19, 2018
      Hi, Thanks for the response. If the PO is non posting then it can work for us however to receive the inventory, you have convert the PO into bill. if we can receive the inventory without converting PO then it could really work for us.
      Terms & ConditionsAccessibility statement