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Transactions in the Purchase Ledger are posted directly to your supplier accounts. Purchase orders and returns entered in the Purchase Order Processing module are automatically posted to the Purchase Ledger.
In addition to entering payment and receipt transactions in the Purchase Ledger, you can also add these in the Cash Book.
You can also import transactions from an external source.
When you enter a transaction onto the Purchase Ledger, this:
Updates the relevant nominal account on the Nominal Ledger.
If a transaction is dated in a future period then it is place in the Deferred posting file, until the period is opened.
If a transaction is in foreign currency, you can revalue the purchase ledger account to update the exchange rate.
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