Add Purchase

A purchase refers to the acquisition of goods or services from a supplier for business use.

Adding a purchase in eTIMS via Slade360 eTIMS APIs is crucial for tracking expenses, managing inventory, and ensuring compliance with Kenya Revenue Authority (KRA) tax reporting requirements.

Why Add a Purchase in eTIMS via Slade360 eTIMS APIs?

1. Expense Tracking
   It helps businesses monitor their expenditure for operational and financial management.
2. Inventory Management
   It ensures accurate recording of stock levels and supplier transactions.
3. Tax Compliance
   It allows proper input VAT reporting for claims during tax filing.
4. Financial Reporting
   It provides a detailed record of business expenses for audits and reconciliation.

Best Practices for Adding Purchases in eTIMS via Slade360 eTIMS APIs

1. Ensure Supplier Details are Accurate
   You should double-check supplier information to ensure proper tax reporting.
2. Apply Correct Tax Rates
   You should verify that VAT and other taxes are correctly calculated for the purchase.
3. Maintain Updated Records
   Keep the supplier database and inventory lists updated for streamlined operations.
4. Reconcile Purchases Regularly
   You should periodically review purchase records to ensure accuracy and consistency with financial statements.