Purchase invoicing and payables · Guide 92 of 624
How buying affects your books
Each step of a purchase in RockifyERP has a clear effect on your accounts.
What you need to know
- Material request and purchase order: no accounting entry.
- Purchase receipt: with perpetual inventory, debits stock and credits Stock Received But Not Billed.
- Purchase invoice: clears Stock Received But Not Billed (or debits an expense), debits VAT receivable and credits the supplier.
- Payment entry: debits the supplier and credits bank, cash or mobile money.
Tip: A balance left in Stock Received But Not Billed usually means goods arrived but the supplier invoice hasn’t been entered.
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