Recording purchases

A purchase records what you bought, from whom, and at what price. Transactions → Purchases → New purchase.

Enter the supplier's own bill number alongside your voucher number, so a bill can be found from either reference later.

Effect on cost

Each line brings stock in and recalculates the weighted-average cost for that product. This is where your cost of goods comes from — the purchase price on the product master is only a default suggestion.

Purchase returns

A purchase return is a debit note: goods go back to the supplier and stock is issued out. It reduces what you owe them, and is excluded from purchase totals in reports.