What is Goods Receipt Note? and its current format
Answer Posted / 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 |
Post New Answer View All Answers
Enter the following in the petty cash book, using appropriate expenditure column headings. the book is kept in the the amount of imprest system. the amount of imprest is #40,000
Explain howyou would account for the following items/situations,justifying answers by reference to the conceptual frameworks defintion and rcognition criteria. a)A trinket of sentimental value only b)You are the guarantor for your friends bank loan i) You have no reason to belive that your friend will default on the loan ii) As your friend is in serious financial dificulties,you think it is likely that he will default on the loan c)You receive 1000 shares in X Ltd,trading at $4 each,as a gift from a grateful client. d)The panoramic view of the coast from your cafes windows,which you are convinced attracts customers to your cafe
Expand-------NBTA
what is mba tell me the more benefits in mba
can you define exogenity endogenity both terms are from economics both are different from exogenous & endogenous variables. I can not find the answers. please help if you can....
Expand-------URM
I customized the tax procedures, after posting normal g&l (f-02), i got an error, error is complete lineitem display, its popup error message num, how can i find the message error, whats the t-code
What is re-financing in Letter of Credit settlement
what is the procedure for issuing th C form
whether financing to Bulk Milk Coolers comes under CMA under Agriculture or Non Farm Sector
Expand---------PDBC
what is a meaning of track record in tally software when we maintain the inventory entry what is role of track record
differences between liabilities and assessts
is there any chance for confilcts between an accountant and a sales executive ? If yes how do you resolve the same as an accountant ?
write about an e-mail to manager seeking permission for leave