 PURCHASING
FAMOUS provides a purchase order system
for controlling the purchase of products and services.
Resale
Products can be purchased and received into inventory for the purposes
of resale. Costs are tracked to update your general ledger and determine
profit on sales.
Accurate Costs
A delivered cost is calculated for each product received. Charges such
as freight are allocated across products. If any costs change, even after
product is received and sold/issued, the net change updates inventory,
general ledger, cost of goods and profit on sales.
Internal Use
Products such as materials and supplies can be purchased and received
into inventory for internal use. Costs are transferred as product is issued
for consumption.
Receiving Purchased Product
Purchased product is received by purchase order. Tags can be generated.
Receivers can handle exceptions such as receiving a product that was not
ordered.
Immediate Accounting
Financial and inventory valuation reports are current. Your general ledger
inventory is updated as product is received with a credit to a purchase
order clearing account.
Purchase Matching
Vendor invoices are matched with purchase orders in a convenient entry
screen. If authorized, users can make cost changes during matching.
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