Use of Purchase Accounts

Hi,
Can any one explain me about use of Purchase Accounts??
Thanks,
Siva Kumar

If we are not using purchase accounts posting system we can't track how much purchases we have made during this year.
We have to create a purchase offset a/c also
(a dummy a/c)
Credit will goes to this a/c directly while making the purchase related transactions.
while making grpo entry will be
stock           Dr   xxxx
Goods received not cleared a/c Cr  xxx
purchase a/c dr xxxx
purchase offset a/c cr   xxxx
Regards,
Suresh Kannan
Hopes this will help you.Close this thread if helpful & reward points.
Edited by: Suresh Kannan on Feb 23, 2008 9:22 PM

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