Introduction to Purchase Invoices in Standard Accounts

The Purchase Invoice register is a record of your company's purchases. Each time you make a purchase, you will receive a Purchase Invoice from the Supplier, which you should enter to the Purchase Invoice register. You will therefore use this register for a number of tasks:
  • The Purchase Invoice is a record of the payment demanded from your company by the Supplier;

  • Unpaid Purchase Invoices in the register provide the basis for your creditor management reports; and

  • Each Purchase Invoice causes a Nominal Ledger Transaction to be created, thus generating the overall purchase and creditor figures in your monthly and yearly management reports. This creation process is automatic, requiring no intervention or work from you.
You can record three types of purcha