KwikBizLite NewsLetter from SYSNET ASSOCIATES (INDIA) PRIVATE LIMITED. Issue No: 006 Dated: 1st october 2008

KwikBizLite - A Micro ERP Product for Emerging Enterprises.

In this issue we will discuss about the 'Casual Purchases' profile.
In this profile the Goods can be received or purchased without a formal Purchase Order. Closing Stock Quantity and Value get auto updated in 'Item Balance' profile. You can also create credit purchases from this profile. Related 'Account Head' gets updated on creating a Casual Purchase. The Items of a PO that are Completed or Short Closed or Cancelled cannot be referred in a GRN. Through this document the Closing Stock Quantity & Value in 'Item Balance' profile are updated. To receive goods without a formal PO, use the ‘Casual Purchases’ profile. On selecting a GRN No., the list of Items of the GRN is listed. Press 'F10' or 'F11' to Show or Hide the list. Business Software Solutions
Editor: Mr. M.V. Santhanam

KwikBizLite is a complete Business information system, for any SMB company. It handles key business operations.

KwikBizLite - Business Matters

Casual Purchase screen in KwikBizLite. Important elements in this profile:
Purchase No: The number of the document. By default this number is auto incremented sequentially. The number has to be unique, duplicate PO numbers is not allowed. Only for the first entry user needs to give the starting sequence, example ‘CP/2008/001’
Purchase Date: While creating a new Casual Purchase document the current date in your computer is shown by default. The user can change the date, if required. The format of the date is as per your computer settings.
Supplier Name: The Name of the Supplier who has supplied the goods. The Supplier Name to be selected from the list.
Payment Type: The payment mode of the purchases either by Cash or Credit/Cheque. It is based on this mode, the Account Names in 'Ledger Balance' profile are update.
Supplier Bill No: The Bill Number of the Invoice received from the supplier.
Supplier Bill Date: The date of the Supplier Bill No.
Basic Value: The total basic value of the goods purchased.
Discount Value: The total discount value of the goods purchased.
Tax Value: The total tax value of the goods purchased.
Total Value: The total value of the goods purchased.
Purchase Type: This indicates if it a Local or Interstate or Import type of purchase.
Tax Registration Type: The status of the supplier, useful for calculating input tax credits. This is based on the Supplier Name selected.
Tax Type: This indicates which type of tax is applicable for the company, whether it is VAT, LST or CST.

Q & A : Your Questions are answered by KwikBizLite Experts, below.

Question 1: Can 'Casual Purchases' be used to record purchased of Stocking Items?
Answer: Direct purchased of any Item can be recored using 'Casual Purchases'.

Question 2: In case of Credit Purchases should the Supplier Name be entered in the 'Accounts Head' profile?
Answer: Yes, it is very important to entered the Supplier Name in the 'Accounts Head' profile under the Schedule 'Sundry Creditors'. Please note the Spelling of the Supplier Name should be exactly the same mentioned in the Supplier profile since it is case sensitive.

Question 3: Does the VAT profile gets updated on recording a Casual Purchase?
Answer: Yes, VAT profile is accordingly updated on creating a Casual Purchase.

Question 4: How to maintain Accounts Receivable in KwikBizLite?
Answer: An entry in the profile Receivable-Goods is auto added on creating an Invoice. On receiving the payment from the Customer, select the correct 'Invoice No.' from the profile Receivable-Goods against which the payment was received. Using the Modify feature enter the Amount received. In case of Credit Sales it is very important the necessary Bank/Cash voucher in entered.

Question 5: Is it possible to directly enter the Item Name in Casual Purchases?
Answer: No, the name of the Item has to be first created in the 'Item Master'. The stock for the Items purchased is maintained even for Casual Purchases.

Thanks for reading the newsletter. Please do write to us at info@SysnetIndia.com, with your queries. We'll return with much more soon, in the next NewsLetter. Cheers!
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