G2Virtu - Purchase Receipt

Purchase Receipts are made when you accept Items from your Supplier usually against a Purchase Order.

You can also accept Purchase Receipts directly without the need for a Purchase Order. To do this, set Purchase Order Required as “No” in Buying Settings.

To access the Purchase Receipt list, go to: 1. Prerequisites Before creating and using a Purchase Receipt, it is advised that you create the following first:

Purchase Order Note: From version-13 onwards we have introduced immutable ledger which changes the rules for cancellation of stock entries and posting backdated stock transactions in ERP.

2. How to create a Purchase Receipt A Purchase Receipt is usually created from a Purchase Order. In the Purchase Order, click on Create > Purchase Receipt.

To create a Purchase Receipt manually (not recommended), follow these steps:

Go to the Purchase Receipt list, click on New. The Supplier name and the Items can be fetched from the Purchase Order by clicking on 'Get Items from > Purchase Order'. You can set the Accepted Warehouse for all items in this Purchase Receipt. This is fetched if set in Purchase Order. In case any Items are defective, set the Rejected Warehouse where those Items will be stored. Select the Item and enter the quantity in the Items table. The rate will be fetched and the amount will be calculated automatically. You can expand the item row to change the Accepted Warehouse for an Item. Save and submit. You can also add a 'Supplier Delivery Note' to the Purchase Receipt if your Supplier has added some notes. Using the 'Edit Posting Date and Time' checkbox you can edit the posting time and date of the Purchase Receipt. By default, the date and time are set when you click on the New button.

Is Return: Tick this checkbox if you're returning Items that were not accepted to your Warehouse.

2.1 Statuses These are the statuses a Purchase Receipt can be in:

Draft: A draft is saved but yet to be submitted to the system. To Bill: Yet to be billed using a Purchase Invoice. Completed: Submitted and received all the Items. Return Issued: All the Items have been returned. Cancelled: Cancelled the Purchase Receipt. Closed: The purpose of the Close is to manage short-closing. For example, you ordered 20 qty, but closing at 15 qty. The remaining 5 is not to be received or billed. 3. Features 3.1 Currency and Price List The currency of the Purchase Receipt is shown in this section, it is fetched from the Purchase Order. The item prices will be fetched from the set Price list. Ticking on Ignore Pricing Rule will ignore the Pricing Rules set in Accounts > Pricing Rule.

Since the incoming Item affects the value of your inventory, it is important to convert it into your base currency if you have ordered in another Currency. You will need to update the Currency Conversion Rate if applicable.

Read about Price Lists and Multi-Currency Transactions to know more.