Any purchases you make will need to be recorded in KashFlow, this is done by creating a purchase receipt – in other software this may be known as a purchase invoice. Create a new receipt by going to Purchases > Create+.
Creating a Purchase Receipt
A purchase receipt can be created by simply going to Purchases > Create+. You will then need to fill out the relevant fields.
- Number – This would be your receipt number in KashFlow.
- Supplier- You need to select the supplier that the purchase applies to from the dropdown, then type to search.
- Supplier’s Reference – This is where you will put the invoice number that you have been sent by the supplier.
- Issue Date – This is the date that the invoice was raised on.
- Due Date – This is the date that the payment is due on, set by the payment terms of the supplier.
- Currency – This is the currency that your receipt is in.
Adding Line Items
Then you have to enter the details of the receipt that are sending by hitting Add Line Item.
- Purchase Code – Use this dropdown to select the nominal code against the Purchase Receipt. These are configured in Settings> Chart of Accounts
- Product – This would be the Product against the Purchase Receipt, if you have stock linked you would need to use this field.
- Project – (If applicable) – This is the Project against the receipt, so you can track expenditure through the Project.
- Qty – This is the quantity of this line item that you were sold. You can rename or disable this field by going to Settings > Invoice Options > Display Options
- Description – This would be the field where you enter what you were sold. Try to include as much information you can, so you can keep a good backlog of your accounts.
- Rate – Your rate is the amount you were charged before VAT. Also known as Net Value
- VAT Rate – This is the percentage VAT you were charged.
- Vat Amount –The amount of VAT you were charged on your Purchase Receipt.
- Total – The total amount you were charged. Including VAT.
- Re-Order Line Items – Drag and drop to re-order your line items.