What is Goods Receipt Note? and its current format

Answers were Sorted based on User's Feedback



What is Goods Receipt Note? and its current format..

Answer / samir

Goods Receipt Note is a note given by Store department to
Accounts/Supplier for Purchse of goods which are accepted
after inspection of material.
When Material comes to store ,only GIN(Goods Inward Note)is
been done which is not of commercial use until GRN is made
after Inspection of material

Is This Answer Correct ?    171 Yes 11 No

What is Goods Receipt Note? and its current format..

Answer / sreepada h.r.

GOODS RECEIPT NOTE (GRN) is prepared by the Stores /
Warehouse Department for accounting the receipt of goods
purchased from suppliers. When GRN is prepared in a
software, Inventory is updated with quantity and value. It
will also update the financial records by debiting Purchases
A/c & Crediting the Supplier's (Vendor's) A/c.

One copy of the GRN (with vendor's invoice , inspection /
quality report copy)is maintained in the location where it
is prepared and the original GRN with Original Invoice of
the Supplier will be authenticated by the Warehouse / Stores
In-charge and sent to the Finance/Accounts department for
transaction validation, payment and preservation of the
documents for future reference and audit.

Is This Answer Correct ?    107 Yes 6 No

What is Goods Receipt Note? and its current format..

Answer / shiv

goods receipt note is the receipts given to the firm or
customers on purchase n solds of goods.

Is This Answer Correct ?    83 Yes 51 No

What is Goods Receipt Note? and its current format..

Answer / jomon jacob

Whatever goods comes into a particular warehouse should be
recorded through some sort of document. When the goods
comes it has to be attached with this document and the
same has to be signed by the gate keeper, store in-charge
and the receiver. The copy of this record will attached
with the bill and forward to accounts dept for payment.
This document is called Goods Receipt Note.

Is This Answer Correct ?    38 Yes 7 No

What is Goods Receipt Note? and its current format..

Answer / jojo jose

GRN is a receipt that we have recived the goods from the
seller

Is This Answer Correct ?    22 Yes 6 No

What is Goods Receipt Note? and its current format..

Answer / muhammad amjad

Goods Receipt Note is a document used to record the inward entry of the any goods received at the premises of the organization. The document normally consist of the details of Quantity Received, Quantity Rejected and Quantity Accepted, Supplier Name & P.O. No. The practice of preparing GRNs is important as it promotes proper inventory control and restricts the unwanted, unauthorized entry of goods in the organization. The GRN preparation is a part of effective Inventory Control Management.

Is This Answer Correct ?    11 Yes 4 No

What is Goods Receipt Note? and its current format..

Answer / rbalaji

GRN note is a receipt that we recevied from the customers
on purchase also GRN Very use full for
commercial use until GRN is made
after Inspection of material
also GRN very use full for when the materil shortage as per
book
so GRN very importan book for stores dept

Is This Answer Correct ?    16 Yes 10 No

What is Goods Receipt Note? and its current format..

Answer / tem

GRN is a note that has to be prepared by a store keeper after inspection of the item. The format usually includes GRN no.,P.O.no.,received date, S.No., Item descreption, Quantity, unit amount, total amount, and signed by the store keeper, and immediate superviser.The original has to be forwarded (to be filed with P.O., proforma invoices, final invoices)to accounting department for payment and/or posting in the accounting system. The first copy will be filed with the store keeper, and the second copy remains in the GRN book. The main purpose of preparing GRN is to keep track of inventry so that to have better inventory management and control system.

Is This Answer Correct ?    3 Yes 0 No

What is Goods Receipt Note? and its current format..

Answer / ketan chalke

Goods recepit note is to be done to confirm all goods have been received often to puchase order before issue vendor payment.

Is This Answer Correct ?    0 Yes 0 No

What is Goods Receipt Note? and its current format..

Answer / ranjan kumar prusty

Goods received note is a document produced when goods are received into the company

Is This Answer Correct ?    0 Yes 0 No

Post New Answer

More Accounting AllOther Interview Questions

nav , npv

2 Answers   RRDonnelley,


EXPAND______________IGNOU

2 Answers  


i engaged with the accounts of manufacturing concern, i have a question when we purchased a fixed assets and after this we put the fuel in this for trial then this fuel is our also capital exp

1 Answers  


what are micro-cap, small-cap, mid-cap, large-cap companies?

0 Answers   Mellon,


what is debit note received entry ?

2 Answers   Flextronics,






Expand ________ECE

1 Answers  


what is the use of memmorandam voucher in tally ?

1 Answers  


what is portfolio management?

7 Answers   Cap Gemini, Capital IQ, Genpact,


what is the good prasentation on interview

0 Answers   IBM,


change needed for 100rs it should be 10 notes but it should not be 1ors notes?

3 Answers   Wipro,


Expand---------PTSR

1 Answers  


What is promoters?

4 Answers  


Categories