Synopsis

This course explores the details for the Purchasing module from how to enter simple purchase orders with only three pieces of information: vendor ID, inventory item ID, and quantity, to everything else - including unit cost, unit of measure, and account/sub-account information, based on your business rules.

Learn to make informed decisions using a variety of reports that help you negotiate the best prices by understanding what products and services your company needs, the right time to order them, and the best vendors.

Use the automatic vouchering process to create accounts payable vouchers and update inventory immediately, rather than when the vendor invoice arrives. Create a receipt with just the PO Number from a packing slip.

When entering receipts track open orders, override unit costs, and receive quantities larger than original orders. This class discusses topics such as how units of measure, which can differ from an item's stock unit, are automatically converted on receipt to stock unit measures, to update inventory accurately.

We discuss how to use the indicators on PO line items to indicate whether items are for internal use, such as office supplies, or for inventory, such as resale or production items.

At Course Completion

After completing this course, students will be able to:

• Enter Purchase Orders, Receipts and Returns
• Use inquiry screens and reports to extract appropriate information for business processes
• Enter Landed Costs at the time you enter the receipt of inventory
• Enter Landed Costs after the items have been received
• Close the Purchasing module
• Define set up options for the module that allow you to customize your system to better fit your organization's unique needs

Prerequisites

Before attending this course, students must have:

• General knowledge of Microsoft Windows.
• Knowledge of basic navigation functions in Microsoft Solomon
• Completion of General Ledger and/or Accounts Payable, training course required