What is Goods Receipt Note? and its current format
- 12 Answers
- 74956 Views
- DelCor, Mayuka Labs, Price Waterhouse Coopers, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
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 |
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 |
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 |
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 |
Answer / jojo jose
GRN is a receipt that we have recived the goods from the
seller
| Is This Answer Correct ? | 22 Yes | 6 No |
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 |
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 |
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 |
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 |
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 |
salary received for 15 days and other 15 days are absent please give me the journal entry
what is meant by inter trading
you have been asked to prepare a bill for services .what information should be included in the bill?
what is ADR
Why you want to chage the current job in 8 months time?
what is Calculation of Gross Profit Or Gross Loss?
Expand---------EDP
cash book ruals
WHAT IS THE DIFFERENCE BETWEEN SEND FOR APPROVAL (WITHOUT PARKING) AND ASSIGNMENT CORRECT IN MYSAP FI POSTING?
1. What is Derivative ? And types of Derivatives ? 2. What is Investment Banking ? 3. What is Capital Market ? 4. What is Sensex ? And what is Index ? 5. What is PE Ratio ? 6. What is Interest Rate Swap ? 7. What is the difference between Forex & Stock Exchange ?
Expand----ICRC
what is interest on drawings
Audit 
