Purchase on Credit in Manager Accounting Software

 In this you guide you will learn how to purchase on credit. The process is very simple and it would only require you to select a supplier in comparison to cash purchase.

To purchase on credit/account in Manager Accounting Software go to Purchase Invoices tab.

Next, click on New Purchase Invoice.

Issue Date: It will automatically select today's date from your computer, but you can change it to a past or future date. 

Due Date: When is the last date to pay this invoice. You can define net payment in days or you can specify an exact date by selecting By from due date options.

Reference: This is optional, but it's better to enter the invoice number you receive from your supplier.

Supplier: Select a supplier from your previously created suppliers. If you don't see a specific supplier in the list, you have to create one in Suppliers tab.

Description: This is a description for the invoice. You can type in any necessary information in this field.

Item: Select the item you want to purchase from this field. If your desired item doesn't appear here, you have to create one in Inventory Items.

Account: When you select an item, the account will automatically change to Inventory on hand. You cannot change it. But, if you have selected a custom expense or income account for the item, the account will be different.

Description: This description is for every line item. You can write a different description for every line item that might be necessary information for the transaction.

To be able to use line description you have to activate this option.

Qty - Unit price: Enter the quantity and the unit price of the item you are purchasing. 

Total: It will be calculated automatically when you enter quantity and unit price.

Tax code: Select a predefined tax code if applicable for your transaction. It will calculate an extra amount and a new total will be created.

Amounts are tax inclusive: If you activate this option, the tax will be part of the first total which is calculated by qty times unit price.

Add line: To add more items in this invoice click on add line. It will add one line at a time, and you can add unlimited lines. You also get the option to add five lines, ten lines, or twenty lines at a time.

I added one more line and filled it with new item. Quantity and unit price of this item is different from previous one. Also, no tax code is given.

Create: Click on create to save this invoice, or click on Create & add another to keep creating purchase invoices.

After clicking on Create a Purchase Invoice will be created. You can find all important details of the transaction in the invoice.

Edit: You can edit a purchase invoice after it is created. for example you can add a new item, change quantity, unit price, or supplier. To edit a transaction click on Edit button shown in the image below.

Delete: You can delete a purchase invoice by opening it in edit mode. At the bottom of the page you can see click on delete button, you will be asked to confirm if you want to delete the transaction. When you click on Delete, it will be removed forever.

When you create create your first purchase invoice, it might seem very complicated requiring so much information to create an invoice. But, as you practice more, you will understand that only a supplier, the items, their quantity and unit prices are enough to create an invoice in Manager Accounting Software.