Setting Tax Option for Cost in Purchase Orders
You can set up the tax option for purchase cost in a purchase order easily in Hike.
You would first need to confirm whether the product cost on the product page, as shown below, is the tax-inclusive or tax-exclusive one.
To set this up, please navigate to:
Store setup > General > Review the option "Item costs defined on product page are tax-inclusive cost prices" in the section of General Rules.
The option is ticked by default, which means Hike will take the cost as a tax-inclusive one. You can change it as per your requirements.
Then, when you create a purchase order, the cost on the product page will be input into the tax-exclusive or tax-inclusive field as per your settings. Both fields are editable, so you have the flexibility to change either based on whether your supplier is providing the tax-exclusive quote or the tax-inclusive one. After editing one, the system will calculate the value of the other one automatically.
When you will create a purchase order, the by default Tax will be shown as per the Supplier’s Tax. Please check the screebshot below for reference.
How Does The Option of Weighted Average Cost Work?
You can activate the weighted average cost option on the General page under Store setup. If it is unticked (unchecked), the option is deactivated and your store is currently calculating cost based on the latest cost set on the product's profile page, ...
Adding new products via Purchase orders
While you have options to create new products from product page manually or via excel file, you can also add new products into Hike via Purchase orders. There are two ways to add products via Purchase orders. We have a separate support article if you ...
Export A Purchase Order
In Hike, You can Export a Purchase Order into 4 different types as per you find it suitable. You can export ‘Opened Purchase Order’ & ‘Partially Received Purchase Order’ as per the following steps. Open the ‘Opened Purchase Order’ or ‘Partially ...
What is a Stock Purchase Order?
Purchase Orders (or POs) are records used to document the transaction between a supplier and a buyer. From a retailer’s perspective, a purchase order will include pertinent information such as the specific goods that you will be purchasing, as well ...
Adding Products Into Purchase Orders Via Spreadsheets
When you need to add a lot of products into Stock Purchase Order, you can import and add products through Spreadsheet. To start on, kindly navigate to: Inventory > Purchases > +Add New (as per the screenshot below) After getting New Purchase Order ...