When recording the purchase of inventory, PEAK will record the accounting entries and recognize the product in stock. The processes of record inventory purchase are as follows:

Step 1: Go to Expenses > Purchase Inventory Record > Press Create button.

Step 2: Fill in the information for record inventory purchase.

such as Refer to, Seller information, Pricing and Tax information, and Product item.

When the information has been filled in, please recheck the transaction again.

Step 3: Payment process for payable record
In the payment information, Press No payment yet (Payable)

After the payment window is closed, please press Save Draft button or the Approve Purchase Inventory button for recording the account entries and recognize the product in stock.

An example of accounting entries of payable record.

Payment process for no payable record

In the payment information, please specify the payment date, payment method, and payment amount.

An example of accounting entries of no payable record.

On the page of stock movement of that product code, you will see the transaction history shown the record of product purchase and number of the product purchased.