Purchase Transaction Recording

Overview

The AIAccount Purchase module covers the complete workflow from purchase orders to bill entry to payment processing. The system automatically generates double-entry postings (Dr Expense/Inventory / Cr Accounts Payable), helping businesses accurately track purchase costs and supplier balances.

Key Features

  • Expense Bill Entry — Add new expenses under "All Expenses" with supplier details, expense line items, and tax codes for automatic journal posting
  • Purchase Orders — Create purchase orders and convert them to actual bills with one click using the "Create Bill" button
  • Payment Recording — Click "Add Payment" on unpaid bills, select the bank account, and the system automatically offsets payables
  • Credit/Debit Notes — Select Debit Note or Credit Note type, link to the original purchase invoice, and tick "Credit Apply" for automatic offset
  • Cash Expenses — Tick "Cash Expenses" to record payment directly to a bank account
  • Recurring Expenses — Set up monthly, quarterly, or yearly auto-expense templates for fixed costs like rent
  • Purchase Order Export — Enable "Display Quantity and Unit Price" in settings for detailed PDF exports

Step-by-Step Guide

  1. Navigate to "All Expenses" and click "Add New Expense"
  2. Select the supplier contact, enter the bill number and date
  3. Add expense line items, select expense accounts and tax codes
  4. Review the totals and click "Submit"
  5. To record payment, click "Add Payment" on the bill and select the bank account
  6. To create a debit note, select Type = "Debit Note" and link it to the original bill

Important Notes

  • Once a purchase order is converted to a bill, the original PO is marked as converted
  • Use separate tax codes for debit notes and credit notes to avoid e-Invoice conflicts
  • Recurring expenses work similarly to recurring sales, with auto-generation at 1:00 AM SGT daily
  • Director-paid expenses can be recorded using the "Supplier Related Parties" account