The buying process by commercial enterprises to purchase the goods and then presented to then re-sold, stated in the last lesson that businesses use two systems to inventory goods, namely the periodic inventory system inventory system, and each system had his way in the registration of special operations of the goods, whether selling or buying, and this lesson will explain the procurement operations, according to the periodic inventory system, inventory,

procurement, according to the ongoing registration of the periodic inventory system
when you purchase merchandise trade company is opening a special account for the procurement process called procurement account, this account is indebted to the value of the goods purchased, the procurement process can be either in cash or by check or bank account (purchase order) are as follows:

Cash Purchase of
debtor and creditor statement
xxx From H/procurement
xxx to h/fund
to purchase goods in cash
under procurement through a check drawn on the bank of the
debtor and the secured creditor statement
xxx from h/procurement
xxx to h/World Bank and the
purchase of goods by check drawn on the bank
under the purchase order on the account
debtor creditor statement
xxx from h/procurement
xxx to h/PAYABLES
purchase commodity
may bear the expenses account established at the purchase of the goods until the goods arrive expenses to warehouses, such as transportation fees, customs duties and clearance charges and insurance of the goods and, if agreement was reached between the seller and the buyer, the buyer shall bear the expenses for the transfer of goods from the seller to the buyer (delivery replace seller - FOB Shipping Point), then such expenses shall be recorded in the books of the buyer paid for the expenses of the purchases, if the agreement to bear The seller and the expenses for the transfer of the goods to the buyer (the buyer delivery replace - FOB Destination), then the registration of any

secured creditor of the debtor under: Statement
xxx from h/purchasing
xxx to h/fund the
expenses for the transfer of goods purchased in cash,delivery replace seller)
had the facility returns the response of the goods purchased or part of them because of damage or because it is not in accordance with the specifications that have been agreed upon, then open a special account called the expense of procurement returns the value of the goods would be a creditor of the

debtor creditor 77.53 as follows: statement
of h/Fund xxx
xxx to h/RENDERING procurement depreciation allowances on capital
goods purchased response and receive their value in cash
allowances procurement
in some cases may require the process of returning the goods costs on the seller, the seller of the property that will be required to deduct the value of the defective goods without the established response of the goods, this The process called procurement allowances, and express restriction follows:

debtor and creditor statement
xxx from h/Fund
xxx to h/RENDERING procurement depreciation allowances on capital
allowances received in cash purchases of
discount on purchases
different accounting treatment for discount on purchases vary depending on the type of opponent to prove the opponent in books, including what is proved, and these types of discount trade discount 4,074,000 cash amount.

Share :

Add New Comment

 Your Comment has been sent successfully. Thank you!   Refresh
Error: Please try again