receiving of inventory

HOW TO RECORD RECEIVING OF INVENTORY

When we issued a purchase order to our vendor then he send us a inventory which we called him in a purchase order, this inventory can also be received without any purchase order either through a call or u can mail him to send you the required inventory which you want buy from him so let’s see that how all of this will be happen. For this we will first open the company in the Peachtree accounting software. After opening the company we will press “Task” from the menu bar and following window will appear on our desktop screen. From this window we will select the option “Purchase/Receive Inventory” and on selecting this option following window will appear on our desktop screen.

           

The below window will be shown in front of you, this window will be used when you receive the inventory after sending a purchase order. To enter the inventory received first we will select that vendor ID from which we have ordered the inventory. This ID of vendor will be mentioned in “Vendor ID” field. As soon as we select the ID the window appearing on our desktop screen shift from “Apply to purchases” to “Apply to purchase Order” and following window appears which you can seen below.

From this window we will click on the options available in front of “Apply to purchase Order No”. Here we will enter the inventory received by us. In the “Received” column we will enter the amount of inventory received. Other calculations will be made automatically by the software. In “Invoice No” we will mention the invoice no against which we have received the inventory. This is a mandatory option because without this the invoice will not be recorded in the Peachtree accounting software. If we have not received the invoice against the inventory received then we can click on “Waiting on Bill”. We can also use “Drop Ship” option if we are not going to receive the remaining inventory as mentioned in the purchase order.  After entering the invoice number we will press “Save” button in order to save the receiving of the inventory. Now we can receive fewer inventories as compare to our ordered inventory or we can also receive more inventory than ordered inventory or we can even receive equal amount of inventory as ordered by us in the purchase order. So this is the procedure through which we can make purchase order for the inventory which we want to buy through our vendor, or after that purchase order we received all or some of the required order which is made by us.