A Goods Received Note is a record of goods received from suppliers, and it is displayed as verification that ordered things were received. Furthermore, the buyer uses the record to compare the number of products ordered to those delivered.
A typical Goods Receipt Note includes information such as the supplier's name, date and time of receipt, item descriptions, quantity details, quality control remarks, and the recipient's signature. It is often used in conjunction with a delivery note or an invoice to ensure accurate record-keeping and facilitate the reconciliation of inventory.
The GRN plays a vital role in supply chain management as it allows businesses to track and confirm the receipt of goods, inspect the condition and quantity of items, and resolve any discrepancies or issues with the supplier. It serves as an essential document for accounting, inventory management, and resolving potential disputes or claims related to the received goods.
GRN is a significant component of several corporations' departments. The record is primarily used by the factory/store, procurement, and finance/accounting departments for stock updates and payment of products acquired.