Navigate to Admin panel – Purchase settings. Some of the settings will already be in place if you have successfully run the Setup wizard.
Purchase Settings facilitate efficient procurement and financial management. The Purchase Settings cover aspects related to purchase transactions, including:
Use item receipt #
Enable the option to post the goods receipt at a time when the purchase invoice has not yet been posted.
The Item Receipt document logs the items, their quantities, and the arrival time for goods ordered through a purchase order. In AccountingSuite, Item Receipts are typically generated when a shipment of items from a vendor is received. Creating and posting this document adds the items to the inventory, making them available for sale, manufacturing, or other inventory-related activities. If Item Receipts are not utilized, inventory transactions occur when the Bill for the Purchase Order is created and posted.
Allow Landed Cost #
Enables the Landed cost option so that services can be added to the initial cost of goods.
Landed cost refers to the total expense associated with getting a product to its final destination, including the original purchase price, transportation fees, customs duties, taxes, handling charges, insurance, and any other costs incurred during the shipping process.
Require return reason for Purchase Returns #
Enables requirements to fill return reason. This will make the Reason code field on the Additional tab required for saving the Purchase Return, Vendor Credit Memo and Vendor Refund.