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purchase account

Hi,

What is a purchase account and what it is used for.I have never used this account so far.Is this account which is used to see the total purchases of the company or still we can track the total purchases of the company for a particular period from COGS?

Please suggest.We do not want to use purchase account and offsetting account.Is it mandatory ?

Will my requirement of tracking total purchases get achieved without this account also ?How /

Regards,

arjman

Former Member

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