A step-by-step guide to issuing your first purchase invoice in Qoyod, the required fields, and the difference between a purchase invoice and a simple invoice.
When to use a purchase invoice
A purchase invoice records purchase transactions from a supplier when you receive products or goods. It affects:
- Increasing the product quantity in inventory.
- Recording your company’s liability to the supplier.
- Calculating input tax for the tax return.
Steps
- From the “Purchases” dropdown menu, open “Invoices”.
- Click the (+) icon to create a new purchase invoice.
- Enter the reference number from the supplier’s invoice (optional).
- Select the supplier from the list, or add a new supplier.
- Set the issue date and the due date.
- Choose the payment terms.
- Select the location where the products will be received.
- Add the product, set the quantity, price, and tax rate.
- Click “Save and Approve”.
Purchase invoice vs. simple invoice
- Purchase invoice: for products and goods recorded in inventory.
- Simple invoice: for operating expenses (rent, electricity, internet) or fixed assets, using an expense account instead of a product.
Record a payment to the supplier
- From the invoice options, click “Pay”.
- Choose “Create voucher” for a new payment, or “Use existing voucher” to allocate a previous payment.
- Select the account the amount will be withdrawn from (cash or bank).
Notes
- An invoice cannot be edited after approval. Use the duplicate option to create an amended invoice.
- Deletion is only available if the invoice is not linked to a payment voucher.
