Purchasing

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The purchasing section of our documentation is dedicated to providing information on how to effectively manage and track purchases within our platform.

This feature enables users to easily add and categorize different types of purchases, including but not limited to supplies, equipment, and services.

The purpose of the purchasing feature is to simplify the procurement process and provide a centralized location for tracking and organizing all expenses incurred by the organization. With this feature, users can ensure that all purchases are accurately accounted for and recorded in a timely manner.

With the purchasing feature, users can easily add and manage:

  1. Standard purchases, which can be made using credit/debit card transactions,
  2. Purchase Orders, to request products and services from suppliers and store received invoices, and
  3. Contract Agreements, for recurring purchases that follow a pre-agreed set of terms and conditions.

Where Purchases are Kept

All purchases are kept under projects. In order to view a projects purchases, you can navigate to the project you wish to view the purchases for and click the ‘Purchases’ tab.

Here is where you are also able to add any purchases you require.

Purchase Line Items, Account Codes and Branches

Each line item in a purchase will be associated to both a branch and an account code.

An account code is used to categorize and track expenses and income within a company’s financial accounting system. The account code provides information about the type of expense or income, such as “rent”, “salaries”, or “advertising”. This information is then used in financial statements and reports to help managers make informed decisions.

The branch provides a tracking code, also known as a department code, project code, or cost center, and is used to allocate expenses to specific departments, projects, or cost centers within a company. Tracking codes help companies understand where their money is being spent, and can be useful for budgeting and financial reporting purposes.

Having both an account code and a tracking code for each line item in a purchase allows for a more detailed level of tracking and reporting. It provides a clearer picture of where money is being spent and allows for more accurate financial statements and budgeting. This information is important for making informed decisions about the allocation of resources and for ensuring the financial health of the company.

The purchasing section is designed to help organizations efficiently manage their expenses, streamline their procurement processes, and ensure that all purchases are recorded in one central location for easy tracking and reporting.

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