"Purchasing power certify to acquire power."
Maintaining a well-organized inventory is essential for any organization. With the inventory well organized, there won't be any unnecessary purchases thereby saving time, effort and money. A purchase module controls the inventory and finance of the materials for which purchase order is issued. It makes identifying suppliers, making a purchase from suppliers and billing easy.
A Purchase Invoice document is there through which finance related things could be managed. Purchase invoice is further divided into four categories
A purchase invoice issued by a regular dealer will have GST added on every supply he provides.
An invoice issued by a composite or an unregistered dealer will have a higher price on the product as no GST will be charged. It will affect the competitiveness of the organization in the market.
In this type, Goods or Services in the RCM Category like Transportation, instead of giving GST to supplier, we need to pay gst on Reverse Charged Mechanism bases to Government Directly.
Purchases with exempted goods can be entered here.
Purchase invoice has a complete Dashboard, where you will get the details such as Total Purchase Amount Monthly Graph Comparison, Total Purchase Order, Upcoming GRN etc.
Other features of the modules which complete the work cycle of purchase module
Once Procurement activity is completed, Purchase order is raised to give orders to the supplier. Option for different level of approvals are available. Certain features like Purchase Order against Sales Order, EPS Jobs module connected to Purchase Order enhances the flexibility of the application. Purchase Order SES can also be made for giving service as order.
A GRN/MRN (goods receipt note/material receipt note) is used to record the delivery of the items from the supplier. After the purchase order is given, GRN or MRN are prepared right after material comes in the company. QR Code based mobile apps can prepare GRN on the spot without inventing time or knowledge.
A service entry sheet contains details of all the services that are performed against Purchase Order SES. As GRN is used for Goods/Materials, SES is used for Service attended and cleared or not.
There are various kinds of reports available like Pending Purchase Order, Pending GRN, Pending Purchase Invoice, Overdue Purchase Order, Overdue Purchase Invoices, Outstanding Payable etc.
In every organization the challenges in purchasing department are very high. Organizations are mostly opting a cloud-based purchase module in which paper wastage and lost documentations are the least of its concern. This automation of purchase system leads to an increase in efficiency and speed, and the time-taking task is eliminated with a click of the button. There are no or very less chances of error or fraud.
Other features of the modules which complete the work cycle of purchase module.
This tool moves the approval process forward by powerful approval routing. Configure Multiple or Single Approvals as per need for Purchase Order, GRN or Purchase Invoices and once approved by all approver system will move forward.
Document management system (DMS) is an essential feature and which stores and manages all the important documents connected to purchases, so at anytime, anywhere if you have rights you can access the document.
One can store life time comments and attachments on any purchase entry recorded. It can also be used to generate notifications to the concerned users automatically.
" Purchasing power certify to acquire power. "