Admin Panel: Purchase Settings

Admin Panel: Purchase Settings

Overview

The Purchase Settings in the CustomBooks™ Admin Panel allow you to customize your purchasing workflows, enable advanced inventory tracking features like Landed Cost and Item Receipts, and map default General Ledger accounts to ensure accurate financial reporting.

See How to Configure Purchase Settings

This video provides an overview of Purchase Settings in CustomBooks, including Item Receipts, dropship print options, Landed Costs, Purchase Return reasons, and the default purchase account mappings used for reporting.

Video Summary

Go to Admin Panel > Purchase Settings to configure purchasing options in CustomBooks. You can choose whether inventory totals are updated through Item Receipts, copy dropship print options from Sales Orders to Purchase Orders, enable Landed Costs, and require a reason when entering a Purchase Return. The Purchase Settings page also contains the default purchase accounts and account mappings used for Cash Basis reporting.

Key Takeaways

  • Access these options from Admin Panel > Purchase Settings.
  • Use Item Receipt determines whether inventory totals are updated when an Item Receipt is created or when the vendor bill is entered.
  • Dropship print options can be copied from the Sales Order to the Purchase Order.
  • Landed Costs can allocate expenses such as freight, tariffs, insurance, customs duties, currency conversion, crating, and ocean transport.
  • You can require a reason before saving a Purchase Return.
  • Default Purchase Accounts and Cash Basis account mappings are available at the bottom of Purchase Settings.
＋ Read the Full Video Transcript

In this video we are going to take a detailed look at the Purchase Settings in CustomBooks. The Purchases module is found in Business, Professional and Professional with eCommerce editions.

To start, click on Admin Panel and select Purchase Settings.

The first option we see is to use Item Receipt. When this option is selected your inventory totals will be updated when you create an Item Receipt. If this option is not selected, when you enter the bill from your vendor your items will then be added to your inventory counts.

Next we have the check box that will copy the drop ship print options from your Sales Order to the Purchase Order. This is a time saving feature so that you do not need to enter this information on both documents.

Now we can move on to Landed Costs. The Landed Costs feature enables you to allocate expenses incurred in transporting products from the vendor to your warehouse. These costs can be distributed automatically or manually across the cost of goods sold for items on a Purchase Order or Item Receipt. Examples of such expenses include freight, tariffs, insurance, customs duties, currency conversion, crating, and ocean transport.

The last option is to require a reason for a Purchase Return. With this feature enabled you will need to enter in a reason prior to saving the Purchase Return.

At the bottom of the screen you will see the Default Purchase Accounts and the way that the accounts are mapped for Cash Basis reporting.

For more information or help with Purchase Settings, contact our Professional Services team to get guidance tailored to your business needs.

How to Access Purchase Settings

To configure these options, navigate to:
  1. Admin Panel → Purchase Settings.


Configuration Sections

Purchase Documents Settings

The top section allows you to toggle specific purchasing modules and set data entry requirements.
  1. Use Item Receipt: Select this checkbox if you need to receive items into your inventory. This enables the Item Receipt document workflow.
    Attention: This feature cannot be disabled once an item receipt has been created.

  2. Copy Dropship Print Options from SO to PO: When enabled, print settings configured on a Sales Order (SO) will automatically carry over to the corresponding Purchase Order (PO) for dropship items.

  3. Allow Landed Cost: Activates the Landed Cost feature, allowing you to track additional costs associated with acquiring inventory (e.g., freight, insurance, customs duties).

  4. Require return reason for Purchase Returns: Enforces a mandatory field for return reasons on Purchase Returns, Vendor Credit Memos, and Vendor Refunds.


Default Accounts

This section maps your purchasing activities to specific General Ledger accounts. CustomBooks™ uses these defaults to automatically route financial data to the correct location in your Chart of Accounts.

Account Mappings:
  1. Other Current Assets: Dropship clearing.
  2. Accounts Payable: AP Account and Prepayment AP.
  3. Other Current Liabilities: Inventory paid not yet received account, Inventory received not yet paid account, and Landed Cost Clearing account.
  4. Cost of Goods/Services Sold: Discounts received, Inventory Purchase Variance and Purchase Returns & Vendor Credits accounts.
  5. Expenses: Miscellaneous Expense account.



    To change a mapped account, click the pencil icon next to the account name.

Saving Your Changes

There is no "Save" button on this page. Changes made in the Purchase Settings save automatically. Whenever you modify a field, a notification popup will appear in the lower-right corner of the application confirming that your changes were successfully saved.