For every product sold and services availed, it is important to keep a record for each and every purchases. This is basically for the management to have a basis for different purposes, most especially when a reference is necessary. These purchases are mandatory to be documented using the purchase form, and all the information required in order to complete the form should be provided. This is due to the fact that these forms are also used as the basis when the business management happens to have some sales discrepancies or dissimilarities.
Not only that, these forms are useful when there are some circumstances wherein customers would claim that their orders that have been recently delivered are incomplete. The problem is most likely to be solved by basing on the form, particularly the essential basic information such as the list of the products delivered and the signature of the customer. Further in this article are purposes in utilizing this kind of forms.
Record of Simple Purchase Order Template
Record of Purchase Invoice Template
Reasons to Record Purchase Forms
These purchase forms serve as the basis for different purposes, and some of the main reasons are as follows:
- For government tax statements. The records of purchase forms are often used as the basis to distinguish how much is contributed for the public expenditures controlled by the management. For business management who fail to contribute for this will be subjected for some punishment by the law.
- For the inventory. These purchase forms are often used to determine the list of products sold and the services availed during a specific period of time. This is one of the ways in order to see if there are any discrepancies in the sales report.
- To determine the best-seller products or most availed services. By basing on these compiled purchase receipt forms, it will be easier for the company to determine what are their best-selling products and/or services.
- The daily, weekly, and/or monthly review tracker. When these forms are compiled, the list or records are generated to see how much is earned in a daily, weekly, and/or monthly basis. These records are mandatory to be printed most especially when the management monitors the sales in a specific time basis.
- When there are some customer complaints. There are worst cases wherein customers would claim that the delivery of their orders are incomplete. This happens for various of possible reasons. One is that customers unintentionally forgot whether they have ordered some certain products or not. Second is that they thought of deceiving the staff or employees.
These are just few of the most common reasons why purchase forms are often recorded. you may refer to the forms provided for you in the form in order to better understand what these forms are used for and how to utilize these.
Sample Form for Purchase Record Keeping
Safety Shoe Purchase Record Form
Nevertheless, these records of purchase forms are part of the day-to-day transaction of the company. Therefore, in every purchase of customers, the staff or employees are required to submit and compile these forms usually by the end of the day. Otherwise, they are subject to complete an incident report or undergo a notice to explain procedure.
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