Import Purchase Overview
An Import Purchase means buying goods or materials from a supplier located in another country and bringing them into your own country for business use or resale. Payment is usually made in foreign currency through Import Advance, Demand Draft (DD), or Credit terms(LC).
Besides the Commercial invoice amount, additional costs such as Import Duty (ID), Excise Duty (ECS), Customs Service Fee (CSF), freight, insurance, and bank charges are added. These extra expenses increase the total landed cost of the imported goods.
For Support:
ENABLE THE IMPORT PURCHASE SETTING (Need to be enabled by IMS SOFTWARE if not available)
Steps:
Enable Import Purchase from “System User” Settings and save the changes. {For Ims Software}
Then LogOut and Log In with the user credentials.
FAQ questions:
How do I enable the Import Purchase Invoice ?
How do I create an Import Purchase Invoice?
How do I create and select a foreign vendor for import purchase?
How do I add products to an Import Purchase Invoice?
How do I enter currency and exchange rate for import purchase?
How do I add Import Details (Pragyapan Patra, L/C No., VAT)?
How do I view the VAT report for import purchases
Assign right and Posting the Import Purchase:Assign rights for PurchaseInvoice (Import) from the User Role settings by enabling the required permissions.
Steps:
Go to ‘Configuration’, navigate to ‘User and Preferences’ and open ‘User & Role Manager’
check the user’s assigned role from the ‘User Profile Master’ List. After identifying the role, go to the ‘Role List’
Click on the ‘Edit’ button to set or modify the permissions.
Under Menu right section, tick ‘Invoice (Import)’ and enable the required permissions such as View, Edit, Delete, and Print as needed.Click ‘Save’ to apply the changes
‘Log out’ and log in back into the software to ensure the updated menu is visible.
C. Step for Posting Import Purchase:
1. Click on ‘Purchase Invoice (Import)’
2. Select the ‘Commercial Bill Entry Date’ (e.g., 02-25-2026); backdates can be edited, but future dates are not allowed.
3. Enter the ‘Import Purchase Invoice Number’ (Commercial Invoice Reference No) For Example:2005.
4. Enter the Import Purchase Invoice Date (Commercial Invoice No.) — for example: 02-25-2026. Backdates are allowed and can be edited if needed, but future dates are not permitted.
5. Select the ‘Payment Terms’ Type. Choose Import Advance if payment is made before receiving goods. Choose Demand Draft (DD) for a bank-issued prepaid payment method. Choose Credit if the purchase is on credit. For now, select Credit as the payment term.
6 Press Enter to ‘Account’ section to select the foreign vendor.
7. Choose the ‘foreign vendor’ from the Pop Up (for example: Reliance Retail Ventures Limited). The amount will be credited from this account.
For Support
Step to Create Supplier For Import Purchase
From the ‘Master’, click on the ‘Vendor Master’ option.
Click the ‘Create Vendor’ button to add a new vendor.
Enter the ‘name of the vendor’, for example: Reliance Retail Ventures Limited.
Enter the ‘address’ of the vendor for example:India.
Enable the Is ‘Overseas Item option’ from the Systemuser, tick the Is Overseas Vendor option while creating the vendor, and enter the vendor’s VAT number (e.g., 019823453; can be left blank or have more digits.
Enter the ‘contact number’ of the vendor.
Enter all the required details and click the ’Save’ button to save the vendor.
8. Choose the Warehouse. For example Main Warehouse.
9. In the currency field click enter and choose the currency or add new currency click on the + button.
10. Click on ‘+’ Button to add new Currency in the software.
11. In the ‘Country Name’ field, enter the name of the country from which you are importing.Example: If you are importing from India, write India.
12. Enter the official ‘currency name’ of that country. Example: INDIAN RUPEE.
13. Enter the 3-letter international ‘currency code’. Example: INR.
14. Enter the symbol used for that currency. Example: ₹.
15. Enter the ‘exchange rate’ according to Nepali currency (NPR). Example indian ₹1 = रु1.6.
16. Click on the ‘Save’ button to save the currency details.
17. In the Remarks field, you can enter any notes or comments for the import product. In the Consignment No field, enter the consignment number of the invoice (for example, EK403807171IN).
18. In the Particular field, press Enter
19. From the product list pop-up, select the import purchase product — for example, Florida Red Mango.
20. Enter the import product quantity— for example: 20.
21. In the FC P. Rate field, enter the foreign currency purchase rate of the product (for example: 100), representing the price for one unit.
22. The P. Rate shows the rate per unit in Nepali currency, automatically calculated by the system based on the exchange rate (for example: 100 × 1.6015 = 160.15).
23. The Amount field shows the total price in Nepali currency based on the quantity and unit price (for example, 160.15 × 20 =3203).
24. You can add a discount for the product (for example, 5%), either in percentage (%) or in amount.and the system will display the total discount.
25. The Net Amount field shows the total net amount of the import purchase. For Example: 3042.85
26. You can add more products by pressing Enter or the + button, follow the same process for each product, and then click the Save button to save the import invoice.
27. Click on the Save button to save the Import Purchase details.
28. After saving the voucher, click on the View button.
29. In the Import Purchase Voucher pop-up, select the Import Invoice Number (for example: 2005) that you want to map with the additional cost.
30. When the import purchase details are loaded, press the Ctrl key on your keyboard and click on the Import Details button.
31. When you click on the Import Details, a pop-up will appear on your screen. Follow these steps to fill it:
32. Click on the Load Invoice Details button – the invoice details will be loaded on your screen.
33. Enter the Import Document Number (Pragyapan Patra), for example: M 79582.
34. Enter the L/C No. (Letter of Credit Number) for example 23CD38INR039208.
35. In the Do Accounting of VAT Amount field, select the account that will pay the VAT for this import purchase (for example, Agni Logistic Pvt. Ltd.).
36. Enter the VAT amount.VAT is calculated at 13% per purchase item based on its cost price. The sum of all item-wise VAT should equal the Declared VAT. For example, if the declared VAT is 1000, it can be split between two items as 296.87 and 703.13.
37. Click the Save button to record the information.
38. After the Import Details are saved successfully, a confirmation message will appear on your screen. Click the OK button to continue.
39. To load the vat purchase report of import purchase, go to the Report section, select VAT Purchase Report.
41. Click on RUN Button.
42. Under the Taxable Import Purchase heading, you can view the VAT amount for each individual Purchase Product.
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