Purchase orders can be closed for several reasons. They may be closed directly from the Edit PO screen by selecting the close button.Closed POs will not affect the inventory levels or appear in any inventory stock level calculations. POs may also be closed by PhreeBooks if all the items have been received through the Purchase/Receive screen. Closing a purchase order will remove all remaining 'quantity on order' quantities from inventory identified in the purchase order being closed that have not been received.
When a purchase order is closed, the quantity on order values are readjusted. This action will not affect the income statement or balance sheet since a purchase order represents an allocation of inventory and not an actual purchase (monetary transaction).
Entering a new vendor
Editing a vendor account
Deleting a vendor account
Setting vendor payment terms and credit limits
Entering a purchase order
Editing a purchase order
Deleting a purchase order
Checking purchase order status (Purchase Order Manager)