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What is the entry posted for GRN (Goods received Note)?
If the stock received from the party what entry have to post
in books? And in which a/c it has been hit?

Answers were Sorted based on User's Feedback



What is the entry posted for GRN (Goods received Note)? If the stock received from the party what e..

Answer / abc

1. Material (which u r getting material name) A/C Dr. XXX
To GRN A/C Cr. XXX
(Being Material received.)

2. GRN A/C Dr. XXX
Vat Recoverable Dr. XXX (If Inside state Purchase)
To Party XXX
To TDS Contractor Payable
(Being stock received from the party)

Inventory a/c has been hit

Is This Answer Correct ?    18 Yes 1 No

What is the entry posted for GRN (Goods received Note)? If the stock received from the party what e..

Answer / prasad

1. GRN a/c dr XXX
To Party a/c XXX
Being GRN received from the party

2. Inventory RM a/c dr XXX
To GRN a/c XXX
Being stock received from the party

**** Inventory a/c has been hit

Is This Answer Correct ?    6 Yes 5 No

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