Vendor Invoice in pharmacy: Why Pharmacy Retailers Need It
All pharmacy businesses know about the importance of maintaining proper records of medicines stock. The strict laws by the drug regulatory authority require not just proper batch and expiry management of medicines but also make it mandatory to adhere to the rules laid down for the stock and sale of controlled drugs.
It is thus extremely important to keep track of all your purchases and sales of medicine.
What is Vendor Invoice & Why It Is Important in Pharmacy Business?
A vendor invoice is an invoice that you receive with your medical supplies from a supplier. The invoice lists the medicines, their quantity, and the total amount owed to the supplier.
The vendor invoice is an important document because it serves as a piece of evidence for the purchases of various types of medicines. These receipts are especially important to keep track of all controlled drugs purchased from different suppliers.
During audits by the drug regulatory authority, the stock purchasing record is tallied with the supplier/ vendor receipt.
Warranty in the Vendor Receipt
Another reason why it is important to save all vendor receipts with the purchase records is the warranty in the receipt.
The warranty is based on section 23 (1) (1) of the drugs Act 1976 and it is a disclaimer that the medicines supplied by the vendor do not contain spurious adulterated, substandard, or expired drugs. This disclaimer is important for pharmacy retailers to forestall any problems in the future.
For example, if faulty medicine batches are found in the market, the drug inspector can ask to check your batches and supplies. The vendor receipts with warranty disclaimers can save you from any untoward problem.
In Candela Pharmacy Retail software, you can easily attach vendor invoices with the goods receipt notes.
How to Attach Vendor Invoice with Medicine Stock
For attaching vendor invoice with the received medicines stock, scan the vendor invoice and save it as an image on your system. You can also save it as an excel file or as a pdf.
Once it is saved on your system, you can attach it with the goods receipt note on the GRN screen.
Go to Purchase>GRN
Select the Supplier and enter the stock
Click the Attach button to attach the vendor invoice
Once the vendor invoice is attached with the GRN, it will be saved in the Candela RMS GRN Attachments folder with the GRN number and date.
It is important for you to be maintaining records of all vendor invoices with the good-receipt notes to make sure there are no problems during audits and inspections.
In Candela pharmacy retail software, you can attach the vendor invoice with each GRN and save it for your records.