Goods Receipt/Goods Received Note

What is Goods Receipt/Goods Received Note? 

A goods receipt/goods received note is a formal document issued by the seller confirming the buyer has received the goods. It is also known as an “invoice” or “receipt.” A goods receipt is embellished with all vital information like the order’s description, price, and quantity. 

Significance of Goods Receipt/Goods Received Note in E-commerce Logistics 

Companies can use the goods receipt note to match the original purchase order and supplier’s invoice to make the final payments. Here are a few significances and benefits of it:

  • It provides signed confirmation that the order has been received in good condition.
  • Goods receipt can determine the value of the goods to prevent theft and fraud.
  • Goods received note keeps track of inventory levels, ensuring optimal inventory stock.
  • A goods receipt assists in maintaining inventory balances and managing accounts.

How a Goods Receipt/Goods Received Note Works

A goods receipt/goods received note is only valid when implemented using the following factors: 

  1. To acquire a goods receipt, you must first have a purchase order.
  1. The goods receipt needs to be signed after the recipient has carefully inspected the components of the goods.
  1. After the goods are declared ready to be forwarded, the finance department receives the goods received note.
  1. After receiving, the finance department can pay the amount for the received goods according to the invoice.

Use Case With Goods Receipt/Goods Received Note

Suppose a company has issued a goods receipt to a buyer with their order. This makes it easy for the buyer to verify whether they have received the correct shipment with all the details present on the receipt. Furthermore, in case of any damage or discrepancy, the buyer can raise a complaint, with the receipt as their proof of purchase. 

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