In Zeev, the goods receipt and purchase creation processes are closely intertwined to ensure proper recording and settlement of business transactions involving the delivery of goods and services.
Goods Receipt
The goods receipt is a document that confirms the physical delivery of goods. When you record a goods receipt in Zeev, it increases the quantity of the received items in stock. If the item is a multi-batch item, a new pricing batch will be created. If it's a single-batch item, the price on the item will be overwritten with the price specified in the goods receipt.
Purchase Creation
Upon recording a goods receipt, a corresponding purchase bill (invoice) will be automatically created in Zeev. This bill requests payment for the goods or services received.
Approval Flow
Zeev provides an approval flow for purchase bills, allowing the purchase team to review and approve the bill before it is marked for payment. This approval flow can be bypassed (auto-approval) by enabling an appropriate setting.
Once a bill is approved, it cannot be modified. Any necessary changes after approval will require canceling the bill and recreating it.
Accounting Entries
Upon approval of a purchase bill, all relevant accounting entries are automatically created in Zeev, reflecting the transaction with the vendor and updating the appropriate purchase general ledger accounts.
Price Updates
If any changes to the product price are made before the bill's approval, the item batch created during the goods receipt process will be updated accordingly.
By seamlessly integrating the goods receipt and purchase creation processes, Zeev streamlines the recording and settlement of business transactions, ensuring accurate inventory management and proper financial accounting.