The Purchasing Management module in FTS Accounting is designed to standardize and optimize the entire procurement process, from purchase requests to goods receipt and final payment. This module helps businesses tightly control purchase orders, supplier payables, and inventory receipts, ensuring synchronized, transparent data while minimizing errors.
1. Purchase Request Management
- Create purchase requests from various departments: production support, sales orders, internal needs, etc.
- Support multi-level approvals and budget control from the request stage.
- Automatically check inventory levels to avoid excess stock.
- Attach required delivery dates and clearly define purchasing methods.
2. Create and Track Purchase Orders
- Manage supplier information, purchase prices, credit limits, and payment terms.
- Generate purchase orders from requests or framework contracts.
- Track order status: Ordered – In Transit – At Port – Received in Warehouse – Under Inspection.
- Track ordered quantities and automatically link received goods from warehouse receipts/import documents/invoices to reconcile with ordered quantities.
3. Goods Receipt and Purchase Cost Allocation
- Create warehouse receipts from purchase orders or directly (non-order-based).
- Track domestic and imported goods, automatically calculate excise tax and import duties for imported items.
- Record actual received quantities, item condition, and attached invoices.
- Allocate purchase costs (transport, taxes, insurance, inspection, etc.) according to chosen criteria such as value or quantity for each item, supporting inventory valuation and profit management.
- Track returns to suppliers for items not meeting standards.
4. Payment and Supplier Payable Tracking
- Detailed tracking of supplier payments by contract, order, or invoice.
- Alerts for due or overdue payables.
- Track aging of payables for each contract, order, or invoice.
5. Comprehensive Purchasing Reports and Analysis
Automatically generate purchasing analysis reports:
- Purchases by time period, supplier, or item.
- Lists of purchased goods, outsourced services, and purchasing logs.
- Reconcile requests – orders – actual receipts to evaluate operational efficiency.