Stone Profit Systems

Purchase Cycle :

The purchasing cycle is the amount of time between the purchases, which can be done by a customer or a company.

• The process involves several stages from the approval to the payment for the products.
• The purchasing cycle starts from pre-purchase requesting but its all done internally in most cases.

Purchase Transaction of Stone Profit Systems :

The Purchase transaction of Stone Profit Systems starts from pre-purchase request from the customer to the supplier.

• Stone Profits has details of every transaction that goes in the process till the close of the purchase order.
• The user can understand it easily and have the flexibility to see every details he needed separately from each other. 
• The status of every purchase order is known beside the purchase order.

1. Pre-Purchase Request :

• First we create the Pre- Purchase request from the customer to the supplier.

2. Purchase order :

• A new purchase order is now created with that products and can also add other products if needed.
• We have need to approve the purchase order for further transactions if its greater than $10.
• Adding of the supplier invoice/packing list and inventory receipt can be added to the purchase order.

3. Receive Inventory : 

• When you add the supplier invoice it consists of the list of the slabs with their packing sizes and receiving sizes.
• Here you can update the products, delete and can add freight bills etc.
• After the details in the list are filled we receive the inventory.

4. Invoice :

• After we receive the inventory we can also make any returns of the products if needed to be returned.
• We add the return/credit memo to the supplier invoice and can make the returns that will be added to in the supplier invoice with a return Id.

5. Payment :

Once after the inventory is received we do the payment or we can generate the returns/credit memos when required.

• We select the invoice that has to be paid and then make the payment.
• The final payment can be done and take print of every transaction in the purchase cycle.

6. Returns/Credit Memo :

• When the products or broken or damaged we do the returns and the details for the returns are updated in this section.
• We add the returns in the supplier invoice section.

• After the returns are done the amount of is added to the supplier invoice as unapplied amount, which will be reduced in the next transaction with the customer.

Advantages :

• User friendly and contains every detail.
• All the details are arranged without much complexity.
• Can make changes anywhere until you close the PO.

Disadvantages :

• The design looks similar everywhere and the all the contents are mixed together.
• It involves many details in a transaction.