What is Purchase Bill?
A purchase bill is the document a supplier gives a business for goods it has bought, showing the items, quantities, prices and amount due.
Updated
Meaning
English
A purchase bill is the document a supplier gives a business for goods it has bought, showing the items, quantities, prices and amount due.
Roman Urdu
Purchase bill woh bill hai jo supplier maal dene par deta hai, jisme items, miqdar, rate aur dena wali raqam likhi hoti hai.
Also called supplier bill, purchase invoice.
Example
A shop receives 10 cartons with a bill of 85,000 rupees. It enters the items and cost, and the supplier's balance goes up by 85,000.
What to record
Enter every item with its quantity and cost, plus any freight or discount, so stock and the cost price are right. Compare the bill with the goods received before paying. If you pay in parts, record each payment against the bill. See landed cost and GRN.
In Nafaa
Nafaa purchases record items, cost, discount and payment, update stock and add to the supplier ledger. See purchasing.
Related terms
- Invoice vs Bill
An invoice is the document a seller gives a buyer asking for payment for goods or services, and the same document is a bill from the buyer's side.
- GRN (Goods Received Note)
A goods received note records what actually arrived from a supplier, checked against the purchase order, before the stock is added and the bill is paid.
- Landed Cost
Landed cost is the full cost of getting goods into your shop: the purchase price plus freight, loading, duties, taxes that cannot be claimed back, and other charges, less any discount.