{"id":31701,"date":"2017-05-15T13:08:17","date_gmt":"2017-05-15T05:08:17","guid":{"rendered":"https:\/\/zahiraccounting.com\/en-my\/?p=31701"},"modified":"2017-05-15T13:08:17","modified_gmt":"2017-05-15T05:08:17","slug":"purchase-transaction-cycle","status":"publish","type":"post","link":"https:\/\/zahiraccounting.com\/en-my\/31701-purchase-transaction-cycle.html","title":{"rendered":"Purchase Transaction Cycle"},"content":{"rendered":"

\"Purchase<\/a><\/p>\n

The purchasing department is one of the divisions in the organization which related to other departments, such as a warehouse.<\/p>\n

Basically, purchasing process describes product or service transaction to a vendor, where the product or service will be receipt later. To have a better understanding of this process, the following is the purchase transaction cycle:<\/p>\n

Purchase order (PO) is one of the steps in purchase transaction cycle, handled by procurement staff. The purchase order is issued due to the material request from warehouse department to purchasing department using Material Request form. The form contains the type of goods and quantity requested. This request is approved by the authorized manager or warehouse manager.<\/p>\n

Next, PO is processed by purchasing department. The process covers vendor selection, approved PO issuance, and PO delivery to a vendor. PO can be used as the delivery order to the assigned vendor before receiving product\/service.<\/p>\n

When the vendor has processed the PO, the ordered item\/service is received. The process receiving product\/service are received note issuance by a vendor to a customer and going in product and service are recorded in order note. As the goods\/service received, the purchasing department received the invoice issued by a vendor. The invoice states the detail goods\/service purchase including the tax and discount and net amount. The invoice is used as the bill of unpaid purchasing. The invoice has to match to PO, received note, and payable recognition.<\/p>\n

The customer settles the payable payment to a vendor based on the invoice. Payable payment can be done by cash or cheque.<\/p>\n

Return occurs due to product reject or delivery error. It reduces the recorded quantity including the payable.<\/p>\n

The purchase cycle in brief:<\/p>\n

    \n
  1. Material request<\/li>\n
  2. Quotation<\/li>\n
  3. Purchase order<\/li>\n
  4. Receiving goods<\/li>\n
  5. Payment<\/li>\n
  6. Purchase return<\/li>\n<\/ol>\n

    Zahir Accounting provides PO form in its software. The user may input the PO or material request first in purchase module. PO form is printable trough Transaction list and print invoice.<\/p>\n","protected":false},"excerpt":{"rendered":"

    The purchasing department is one of the divisions in the organization which related to other departments, such as a warehouse. […]<\/p>\n","protected":false},"author":11,"featured_media":31741,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[35,9,36],"tags":[],"yoast_head":"\nPurchase Transaction Cycle - Best Accounting Software in Malaysia | Zahir<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/zahiraccounting.com\/en-my\/31701-purchase-transaction-cycle.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Purchase Transaction Cycle - Best Accounting Software in Malaysia | Zahir\" \/>\n<meta property=\"og:description\" content=\"The purchasing department is one of the divisions in the organization which related to other departments, such as a warehouse. […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/zahiraccounting.com\/en-my\/31701-purchase-transaction-cycle.html\" \/>\n<meta property=\"og:site_name\" content=\"Best Accounting Software in Malaysia | Zahir\" \/>\n<meta property=\"article:published_time\" content=\"2017-05-15T05:08:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/zahiraccounting.com\/en-my\/wp-content\/uploads\/2017\/05\/Purchase-Transaction-Cycle-1080x1080.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1080\" \/>\n\t<meta property=\"og:image:height\" content=\"1080\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"twitter:card\" content=\"summary\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Sri Warni\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/zahiraccounting.com\/en-my\/#website\",\"url\":\"https:\/\/zahiraccounting.com\/en-my\/\",\"name\":\"Best Accounting Software in Malaysia | Zahir\",\"description\":\"The Best Accounting Software\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/zahiraccounting.com\/en-my\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/zahiraccounting.com\/en-my\/31701-purchase-transaction-cycle.html#primaryimage\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/zahiraccounting.com\/en-my\/wp-content\/uploads\/2017\/05\/Purchase-Transaction-Cycle-1080x1080.png\",\"contentUrl\":\"https:\/\/zahiraccounting.com\/en-my\/wp-content\/uploads\/2017\/05\/Purchase-Transaction-Cycle-1080x1080.png\",\"width\":1080,\"height\":1080,\"caption\":\"Purchase Transaction Cycle\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/zahiraccounting.com\/en-my\/31701-purchase-transaction-cycle.html#webpage\",\"url\":\"https:\/\/zahiraccounting.com\/en-my\/31701-purchase-transaction-cycle.html\",\"name\":\"Purchase Transaction Cycle - Best Accounting Software in Malaysia | Zahir\",\"isPartOf\":{\"@id\":\"https:\/\/zahiraccounting.com\/en-my\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/zahiraccounting.com\/en-my\/31701-purchase-transaction-cycle.html#primaryimage\"},\"datePublished\":\"2017-05-15T05:08:17+00:00\",\"dateModified\":\"2017-05-15T05:08:17+00:00\",\"author\":{\"@id\":\"https:\/\/zahiraccounting.com\/en-my\/#\/schema\/person\/8e37c545fd63450fd5a39dd664cf2dd7\"},\"breadcrumb\":{\"@id\":\"https:\/\/zahiraccounting.com\/en-my\/31701-purchase-transaction-cycle.html#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/zahiraccounting.com\/en-my\/31701-purchase-transaction-cycle.html\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/zahiraccounting.com\/en-my\/31701-purchase-transaction-cycle.html#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/zahiraccounting.com\/en-my\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Purchase Transaction Cycle\"}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/zahiraccounting.com\/en-my\/#\/schema\/person\/8e37c545fd63450fd5a39dd664cf2dd7\",\"name\":\"Sri Warni\",\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/zahiraccounting.com\/en-my\/#personlogo\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/9e3578c46b00cdae62128ee312ec7c5c?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/9e3578c46b00cdae62128ee312ec7c5c?s=96&d=mm&r=g\",\"caption\":\"Sri Warni\"},\"url\":\"https:\/\/zahiraccounting.com\/en-my\/author\/iien\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Purchase Transaction Cycle - Best Accounting Software in Malaysia | Zahir","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/zahiraccounting.com\/en-my\/31701-purchase-transaction-cycle.html","og_locale":"en_US","og_type":"article","og_title":"Purchase Transaction Cycle - Best Accounting Software in Malaysia | Zahir","og_description":"The purchasing department is one of the divisions in the organization which related to other departments, such as a warehouse. […]","og_url":"https:\/\/zahiraccounting.com\/en-my\/31701-purchase-transaction-cycle.html","og_site_name":"Best Accounting Software in Malaysia | Zahir","article_published_time":"2017-05-15T05:08:17+00:00","og_image":[{"width":1080,"height":1080,"url":"https:\/\/zahiraccounting.com\/en-my\/wp-content\/uploads\/2017\/05\/Purchase-Transaction-Cycle-1080x1080.png","type":"image\/png"}],"twitter_card":"summary","twitter_misc":{"Written by":"Sri Warni","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebSite","@id":"https:\/\/zahiraccounting.com\/en-my\/#website","url":"https:\/\/zahiraccounting.com\/en-my\/","name":"Best Accounting Software in Malaysia | Zahir","description":"The Best Accounting Software","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/zahiraccounting.com\/en-my\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"ImageObject","@id":"https:\/\/zahiraccounting.com\/en-my\/31701-purchase-transaction-cycle.html#primaryimage","inLanguage":"en-US","url":"https:\/\/zahiraccounting.com\/en-my\/wp-content\/uploads\/2017\/05\/Purchase-Transaction-Cycle-1080x1080.png","contentUrl":"https:\/\/zahiraccounting.com\/en-my\/wp-content\/uploads\/2017\/05\/Purchase-Transaction-Cycle-1080x1080.png","width":1080,"height":1080,"caption":"Purchase Transaction Cycle"},{"@type":"WebPage","@id":"https:\/\/zahiraccounting.com\/en-my\/31701-purchase-transaction-cycle.html#webpage","url":"https:\/\/zahiraccounting.com\/en-my\/31701-purchase-transaction-cycle.html","name":"Purchase Transaction Cycle - Best Accounting Software in Malaysia | Zahir","isPartOf":{"@id":"https:\/\/zahiraccounting.com\/en-my\/#website"},"primaryImageOfPage":{"@id":"https:\/\/zahiraccounting.com\/en-my\/31701-purchase-transaction-cycle.html#primaryimage"},"datePublished":"2017-05-15T05:08:17+00:00","dateModified":"2017-05-15T05:08:17+00:00","author":{"@id":"https:\/\/zahiraccounting.com\/en-my\/#\/schema\/person\/8e37c545fd63450fd5a39dd664cf2dd7"},"breadcrumb":{"@id":"https:\/\/zahiraccounting.com\/en-my\/31701-purchase-transaction-cycle.html#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/zahiraccounting.com\/en-my\/31701-purchase-transaction-cycle.html"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/zahiraccounting.com\/en-my\/31701-purchase-transaction-cycle.html#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/zahiraccounting.com\/en-my\/"},{"@type":"ListItem","position":2,"name":"Purchase Transaction Cycle"}]},{"@type":"Person","@id":"https:\/\/zahiraccounting.com\/en-my\/#\/schema\/person\/8e37c545fd63450fd5a39dd664cf2dd7","name":"Sri Warni","image":{"@type":"ImageObject","@id":"https:\/\/zahiraccounting.com\/en-my\/#personlogo","inLanguage":"en-US","url":"https:\/\/secure.gravatar.com\/avatar\/9e3578c46b00cdae62128ee312ec7c5c?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/9e3578c46b00cdae62128ee312ec7c5c?s=96&d=mm&r=g","caption":"Sri Warni"},"url":"https:\/\/zahiraccounting.com\/en-my\/author\/iien"}]}},"_links":{"self":[{"href":"https:\/\/zahiraccounting.com\/en-my\/wp-json\/wp\/v2\/posts\/31701"}],"collection":[{"href":"https:\/\/zahiraccounting.com\/en-my\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/zahiraccounting.com\/en-my\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/zahiraccounting.com\/en-my\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/zahiraccounting.com\/en-my\/wp-json\/wp\/v2\/comments?post=31701"}],"version-history":[{"count":3,"href":"https:\/\/zahiraccounting.com\/en-my\/wp-json\/wp\/v2\/posts\/31701\/revisions"}],"predecessor-version":[{"id":31747,"href":"https:\/\/zahiraccounting.com\/en-my\/wp-json\/wp\/v2\/posts\/31701\/revisions\/31747"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/zahiraccounting.com\/en-my\/wp-json\/wp\/v2\/media\/31741"}],"wp:attachment":[{"href":"https:\/\/zahiraccounting.com\/en-my\/wp-json\/wp\/v2\/media?parent=31701"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/zahiraccounting.com\/en-my\/wp-json\/wp\/v2\/categories?post=31701"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/zahiraccounting.com\/en-my\/wp-json\/wp\/v2\/tags?post=31701"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}