Purchases/Receive inventory

Purchases are recorded when you receive the goods from your vendors.

In order to know how to record purchases / receive inventory in Peach tree accounting software, click on the Tasks menu and then select the Purchases/Receive Inventory from it, as you can see below

After selecting the Purchases/Receipts; the following screen will appear

This is the screen of Purchases/ Receive Inventory.

In order to record the purchases, firstly you have to give the vendor ID of vendor from whom you are purchasing the goods. For giving the vendor ID, click on the magnifying mirror in the Vendor ID or press Shift+? , the list of all your vendors will open. As you can see below

Select the required vendor from the list of vendors, by pressing Enter or by double clicking on it.

Note:                                                                                                  

(You can also make a new vendor, which is not present in the list of vendors. By pressing + or by clicking twice; the software will open the window of Vendors where you can create a new vendor account and use it in the window of Purchases/Receive inventory)

If you selected that vendor, with whom you haven’t made the purchase order of the goods you are now receiving, then the screen will look like as follows

But if you select that vendor, with whom you have previously made a purchase of the goods you are now receiving; then you can view the changes which have been occurred in the Purchases/Receive inventory window

You can see that the Apply to Purchases tab has been shifted to Apply to Purchase Order No. tab.

Now you have to enter the invoice number in Invoice No. and then

·        Give the address at which you are receiving the goods in Ship To

·        Select  the date of invoice from the calendar in the Date

·        Select the method of receiving  the goods from Ship Via

·        Any discount terms applicable to the purchases from Terms

·        Accounts payable ID from the magnifying mirror of  A/P Account

After giving all these details, the screen will look like as follows

Now select the Purchase order number from the drop down button, as shown below

As you select the purchase order number, the screen will look like, as given below

The software is giving all the details of the purchase order you have selected.

You just have to give the quantity of the goods you are receiving in the Received column, and the software will automatically make the total amount of the goods you are receiving. As you can see below

NOTE:

The software also gives us the facility to make purchases directly, without any making a purchase order.

So if you want to purchase some additional goods from the same vendor, you can make the additional purchases under the same invoice number, by clicking on the Apply to Purchases tab.

As you can see below

Note:

But if you had once closed the invoice, then you have to make a new invoice to directly purchase additional goods in addition to the goods of your purchase order.

 Now in order to save your data of purchases you have made, press Save in the header to save that invoice or press Alt+s

The software also gives us the facility to view the record of our previous purchases. So you can view your previous record of purchases by clicking on the Open button in the header of this Purchases/Receive inventory window.

As you press the open button, the following screen will appear

From the drop down button of Show, select the time period (of which you want to see the purchases).  

Now the screen will look like as follows

Now select the purchase record you want to see by double clicking on it.

Double clicking will open your desired record. As you can see below;

This is the whole process to record purchases and also to view the previous record of purchases in Peach tree accounting software.