Purchase order
A formal order sent to a vendor before the bill arrives. Tracked for inventory receipts; it books nothing until goods are received.
In Solo Superstars
Purchase orders live under Purchases and feed inventory receipts. Goods received before the vendor bill arrives sit in 2010 Goods Received Not Invoiced until the bill posts.
Example
PO for 100 mugs at $4; goods arrive first: debit 1200 Inventory Asset 400, credit 2010 Goods Received Not Invoiced 400. The bill later moves it to Accounts Payable.
Codes shown are the defaults a new workspace starts with. Yours may be renamed or renumbered — check Accounting › Chart of accounts. See the full default chart.
Also called
- PO
Related
- Bill — An invoice a vendor sent to you. Recording it books the expense; paying it clears the payable.
- 1200 Inventory Asset — The cost of goods you hold for sale. An asset until the item sells, when its cost moves to cost of goods sold.