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Working with Item Receipts
- The Item Receipt is used to record Items received from a Supplier.
- It is similar to the Bill (Supplier Invoice) but is used before the Bill is received.
- Once the Bill has been received the Item Receipt can be converted to a Bill.
- The Item Receipt does not affect the associated Supplier balance.
- The balance is only affected when you convert the Item Receipt into a Bill.
- The Item Receipt posts to the Pending Item Receipts liability account which is specified in the Accounts Configuration.
The Item Receipt indicates these transaction details:
- The quantities of products and services,
- Their respective price(s) and,
- The amount or balance owed by you,
- The payment terms agreed with the Supplier,
- By when (Due Date) the balance is due to be paid.
The Item Receipt Document is not issued to the Supplier. It is used to record the transaction. This ensures you have a record of what you owe, and that your accounts are correct.
How to create a new Item Receipt
Item Receipt Key Facts
- The Ref # is a unique identifier/number associated with the Document. See Working with Reference numbers (Ref #).
- The Printed Document can be formatted with your company logo, colors etc. See Working with Document Templates.
Also Read About
Configuring Transactional Documents
Entering Billing/Shipping addresses
Creating related Documents
Working with Payments to Suppliers (Money Out)
Working with Supplier Credit Notes
Working with Emails
Transaction Audit Trail
Working with Jobs
Working with Memos
Working with Classifications