Purchase System – Sistem Pembelian In English

PURCHASE SYSTEM

In the accounting cycle occurred several transactions, such as, purchases and sales

transaction. the company will buy the merchandise, if the inventory in the warehouse department has reached its reorder point, then the warehouse department will require the purchase of goods to the purchase department and make ​​a purchase request and receive purchase order, after the purchase request requesting purchase of the portion of purchase orders to suppliers of goods trade. purchase of merchandise can be made ​​in cash and can be done on credit. buying on credit is usually given a time limit, for example 30 days or 60 days or in accordance with the wishes of the company. and when the faster payment will be given a percentage discount from the invoice price or any other terms therefore there are provisions, for example.

  1. payment terms 2 / 10, n/30 that means, when accelerating payments 10 days or less from the date of purchase will get a discount 2% from the invoice price and when more than 10 days must be paid no later than 30 days. purchases and sales of merchandise in the business world, a source document will be written in the invoice. where the original will be given to purchase a copy while kept by the sellSimakBaca secara fonetiker
  2. payment terms 2 / 15, n/30 that means, when accelerating payments 15 days or less from the date of purchase will get a discount 2% from the invoice price and when more than 10 days must be paid no later than 30 days. purchases and sales of merchandise in the business world, a source document will be written in the invoice. where the original will be given to purchase a copy while kept by the sellSimakBaca secara fonetiker
  3.  terms EOM (end of month) means the invoice price to be paid at the end of the transaction. For example, on 2 February, PT.A buy merchandise from PT B with EOM terms of payment means payment must be paid before the end of February

Recording purchases of merchandise there are 2 methods, physical method and perpetual method. Physical method for purchases of merchandise recorded on the estimated “purchase”. while the perpetual method is recorded on the estimated “Merchandise Inventory” in this case used physical methods.

In accounting for the transaction of the purchase cycle starts from the evidence obtained from the seller’s transaction.
function transaction evidence:
a.  As a medium that contains information on financial transactions
b.  To find a responsible party regarding the transactions
c.  To reduce the possibility of error or mistake by stating all the events in

Writing as basic accounting
d.  Avoid duplication in collecting financial data

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Evidence of the transaction as the basis for accounting purposes. each evidence has the function and usefulness respectively, such as
a. Check, which is useful for making payments in cash via bank
b. Receipt is evidence of transactions that are useful for making payments in cash.
c. Invoice is proof of purchase credit provided by the seller that contains the payment terms
d. Commercial invoice is the proof of purchase in cash
e. Debit note is proof that was sent to the seller if there are items that are damaged or not appropriate with order which is useful as an order to debit the debt or reduce debt

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Of evidence of the transaction will be recorded into the journal. journal is the first stage of recording in the accounting cycle.
Journal there are 2 kinds:
1. General Journal
2. Special Journals
General Journal is a diary used to record financial transactions in a systematic and chronologically by writing the name of the estimates are debited and credited to the following number and short description.
Special journal have 4 kinds of journals.
1. Cash Receipts Journal
2. Cash Disbursement Journal
3. Purchases Journal
4. Sales Journal

Special Journal is a journal contained in a special diary that consists of cash receipts journal, cash disbursement journal, purchase journal, sales Journal and general ledger.

>> Cash Receipt Journal => a special function to record transactions Related to cash receipts and cash transaction that resulted in the company increases.
>> Cash Disbursement Journal => a place to record all transactions that result in payments of cash or payment.
>> Purchase Journal => used to record the purchase of merchandise or other goods made ​​on credit.
>> Sales Journal => to record the sales transaction of trade goods on credit.

Example Journal Physical Methods / periodic

*  Purchase by Cash => Receipt Journal

 

Purchase                        xxx
Cash                                      xxx

*  Purchase Credit => Purchase Journal

Purchase                        xxx
Account Payable                  xxx

*  Return of Purchase => General Journal

Account Payable           xxx
Purchase Returns                  xxx

Example Journal Perpetual Method

#  Purchase by Cash => Receipt Journal

Merchandise Inventory  xxx
Cash                                      xxx

#  Purchase Credit => Purchase Journal

 

Merchandise Inventory  xxx
Account Payable                  xxx

#  Return of Purchase => General Journal

Account Payable           xxx
Merchandise Inventory xxx

#  Purchase Discount => Cash Disbursement Journal

Account Payable           xxx

Cash                                      xxx

Purchase Discount               xxx

After recorded into the journal and then posted to the ledger.
Ledger is a place to classify all the accounts.
The Ledger is divided into 2 large, namely the general ledger and subsidiary ledger.
Ledger has several forms, that is :

  • Form  T Account ( Simple )
Account Name:

              No :

  • Form T Account ( 2 side )
Date Explanation Total Date Explanation Total
  • 2 Column
Date

Explanation

Rek Debit Credit Balance
  • 4 Column

Date

Explanation

Rek

Debit

Credit

Balance

Debit Credit

Ledger is a book that used to complete the details of receivables and payables , for example :

1. Accounts Payable subsidiary ledger

2. Accounts Payable Subsidiary Ledger

Subsidiary  ledger is related with the purchase is Accounts Payable subsidiary ledger , because Accounts Payable subsidiary ledger used to record the debt due to credit purchases.

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When you have finished general ledger, accounts will be summarized into a balance sheet that show position of assets, account payable and capital of the company at a certain period.

For purchase transactions using the perpetual method, merchandise inventories do not require adjustment because the journal has described the condition of the real stock trading.
Whereas if a purchase transaction using the periodic method, merchandise inventories require adjustment because the journal did not reflect the condition of ending inventory actual position.

paragraph journals necessary adjustments to merchandise inventory using the periodic method is

Income Summary                      xxx

Merchandise Inventory                     xxx

Merchandise Inventory                     xxx

Income Summary                                xxx

to simplify preparation of financial statements, we should create a worksheet.
preparation of the worksheet adjustments made ​​after the adjustment journals, adjusting entries after move to the general ledger on each estimate then transferred into a worksheet, adjustment estimates adjusted trial balance is debited estimates add up, which add up credit with credit and debit the same if search credit balance, if greater debit means a debit balance and if larger credit means the credit balances.
adjustment results reported in the adjusted trial balance . The next special for a summary estimate of income and balance sheet adjustments in the until the balance adjusted income statement, recorded debits and credits for each subsequent lane the income statement and balance sheet estimates compiled from the balance sheet first, next to the income estimates prepared in the profit and loss .

When finished making our worksheet to complete the last cycle of accounting financial statements consist of:

  1.  Income Statement => Reports that provide information about the sale, the price of goods sold, operating expenses, other income and other costs coupled to know profit or loss.
  2.  Statement of Changes in Equity => Reports present information regarding the final capital acquired at a certain period.
  3.  Balance => Reports that provide information about assets, debts and capital in the next period.
  4.  Consolidated cash flow => The report presents information on the cash received and spent during this period and also to know the ending cash balance
  5.  CALK => notes that provide more detailed information on the financial statements.

SALES SYSTEM

Apart from the purchase, the accounting cycle there is also a sales transaction. Where the sale in question was selling merchandise to customers, either by cash or credit. The process of selling merchandise on credit that occurred in the company starting from the supply of goods by letter of supply that is made by the sales and the invoice is sent to prospective customers. After receiving the response from prospective customers, that he wanted to make sales on credit then the sales request approval to the loan approval after approval from the sale of a letter ordering goods to be sent to the warehouse and  warehouse department will prepare the goods, count, put the slip of goods and fill in the card stock, after all the items that had been prepared and sent to the delivery of goods, after the goods are received by the reception of goods prepare goods, travel permit, proof of receipt of goods to be shipped to the customer and BPB must be authorized by the customer as proof of registration by the receivables.
And if the sale in cash, if customers want to buy the merchandise after receiving the goods then the customer directly paying by cash or check from the bank.

From the sales process that has been described above, we can conclude that the evidence of transactions that are used in sales transactions of goods trade is

  1.  Memorandum of cash => Memorandum which is used as evidence of sales transactions conducted in cash.
  2.  Invoice copy => evidence used to make sales on credit.
  3.  Receipt => proof of payment transaction receipt of money for something.
  4. Credit memorandum copy => evidence used to reduce the amount receivable for goods received by the customer damaged or not in accordance with the orders.
  5.  Check => as evidence provided by the customer for payment of the purchase in cash.

Upon receipt of evidence of such transactions, the accounting cycle is usually recorded in a journal. Recording sales of merchandise there are 2 methods:

1. Physical Methods
2. Perpetual method

Physical Methods
• sales by cash => cash receipts journal
Cash                              xxx
Sales                                       xxx

• Credit Sales => sales journal
Accounts receivable               xxx
Sales                                        xxx

• Sales Returns (returns for damaged / defective) => general journals
Sales returns                          xxx
Accounts receivable               xxx

• Sales discounts (if at the time of payment not yet due under the terms of payment it will get a discount) => cash receipts journal
Cash                              xxx
Sales discounts              xxx
Receivable                              xxx


Perpetual method

• sales by cash => cash receipts journal
Cash           xxx
Sales               xxx
* Cost of sales xxx
merchandise             xxx

• Credit Sales => sales journal

Account receivable       xxx
Sales                              xxx
*Cost of goods sold       xxx
merchandise          Inventory             xxx

• Return of sales => general journals
Sales returns        xxx
Account receivable       xxx
merchandise Inventory   xxx
Cost of goods sold         xxx

• Pieces of sales => cash receipts journal
Cash                     xxx
Sales discounts     xxx
Account Receivable                xxx

Special marked * are recorded in general ledger

Once recorded into the journal and then all the accounts posted to the ledger. And special for accounts receivable after posting into the ledger are also posted to the ledger accounts to provide a more detailed description.

Furthermore, the accounts are summarized into a balance sheet that shows position of assets, debts and capital of the company at a certain period. For sales transactions, which uses the perpetual method, merchandise inventories do not require adjustment because the journal has described the condition of the real stock trading.
Whereas if the sales transaction using periodic method, merchandise inventories require adjustment because the journal did not reflect the condition of ending inventory actual position.
Paragraph journals necessary adjustments to merchandise inventory using periodic method is:
Income summary                           xxx
Merchandise Inventory               xxx
Merchandise inventory                 xxx
Income summary                          xxx

After making adjustments journal then posted to the general ledger on each account. Then to make it easier the preparation of financial statements should we make a work sheet. From the work sheet it will show profit or loss suffered by the company. So it is easy to prepare financial statements.

The financial reports were very useful for owners, investors, managers, board of directors, creditors, employees, government and users of financial statements.

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