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title: "Purchasing Transactions and the General Ledger"
canonical: "https://kb.myframeworks.com.au/space/PROSTIXV48DOC/31112786/Purchasing%20Transactions%20and%20the%20General%20Ledger"
format: markdown
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Refer to the following links for further information: Stock Purchases As you process a Purchase Order receipt, the software will pick up the cost of the transaction using the costs keyed for each product on the Purchase Order. Purchase of $700.00 worth of stock   Stock Purchases/Stock Return where PO Cost > Std In a standard costing environment, if you purchase stock at a cost which is greater than the standard cost, the difference is sent to purchases gain/losses account defined for the products group. If a stock return is processed for the return of these goods, the journal created when the goods were receipted is reversed. If a stock return is processed but for a change in the purchase cost. That is, an allowance: Supplies Purchases  When purchasing consumable supplies, such as stationery, you can have items defined in the inventory system as Miscellaneous items. These items should be segregated into a special product group for consumables. They can then be accounted for separately in a stocktake. These items are purchased on a normal Purchase Order, receipted to stock and the creditors invoice is processed as a Supplier invoice. A stock adjustment would then be made, writing off the items to an appropriate expense account when the consumable items are used   Sundry Payments Sundry General Ledger payments to others: Stock Transfers Transfer of stock from one branch to another:   Stock Adjustments   Stock Adjustments and Stocktake application: