Purchase Management

Purchase Management

Default Values

Configure default values to be populated in the new purchase order (PO) form. You can set default values such as the default currency, default tax rate, billing & shipping address, and terms & conditions of the purchase.

Configure Default Values

  1. Go to Setup > Customization > Purchase Management > Default Values.
  2. The Default Values tab lists fields that can be configured with default values.
  3. Specify the Default Sales Tax Rate (%) to be used for calculating the sales tax in all the POs generated. If you wish to have a different tax rate for any specific PO, then enter the new rate while creating that particular PO.
  4. Select the Signing Authority.
  5. If you wish to have tax shipping as a default value, then enable Tax Shipping.
  6. Select the Shipping Address to which the PO items will be shipped and the Billing Address to which the invoice and bill need to be sent.
  7. Choose the Cost Center and Approvers.
  8. Enter the Terms and Remarks for the purchase order.
  9. Specify the PO# Start From number.
  10. Specify the ID prefix for POs.
  11. Choose if you want to set the PO owner as the approver.
  12. Use the Enable PO Approver Limit toggle to apply the approver's predefined PO approval limit.
  13. Click Save.
 

 

Cost Center

An individual department or a group of departments makes a cost center. Cost centers track expenses and manage budgets. You can associate a cost center with the purchase order while making a new purchase.

Add Cost Center

  1. Go to Setup > Customization > Purchase Management > Cost Center.
  2. Click Add Cost Center.
  3. Specify the Cost Center Code*.
  4. Provide a Name* for the cost center.
  5. Select the Department* from the drop-down list.
  6. Specify the Owner* of the cost center. The owner is generally the department head.
  7. Provide a Description.
  8. Enable the Disable check box to make the cost center unavailable for use.
  9. Click Save.
*Mandatory fields
 

 
Edit/Delete: Click beside the cost center and select the required option.
 

GL Code

A general ledger account is a record that is used to sort, store, and summarize your organization's transactions by assigning a GL code for each entry in the account. You can select a GL code while making a purchase to track the necessary information for a specific transaction.
 

Add GL Codes

  1. Go to Setup > Customization > Purchase Management > GL Code.
  2. Click Add GL Code.
  3. Provide a name and description for the GL code.
  4. Enable the Disable check box to restrict the GL code from further use.
  5. Click Save.
 

Edit/Delete: Click beside the GL code and select the required option.

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