How do I record a cash purchase from my vendor and track the inventory
Hi there,
I am a complete beginner and have no experience in accounting. Just trying to learn things as I go. I buy my stocks on cash basis only and I've never had an inventory system.
What I'm trying to do now, is to find a way to record stock purchases that I make which happen to be on cash terms. I don't send out a PO to my vendor as I buy directly from their store and as such, I'm not sure that raising a PO to record my inventory would be the way go. There's also the Bill option which I'm considering but would this be the right choice?
Any help will be greatly appreciated.
Topic Participants
vinot
B Arunakumaar
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