Q:

What is a goods received note?

A:

Quick Answer

A goods received note is a receipt given to the supplier to confirm delivery or acceptance of goods by the customer. After the supplier receives this note, a payment invoice is sent to the customer.

Know More
What is a goods received note?
Credit: Paul Bradbury Caiaimage Getty Images

Full Answer

Goods received notes are often the first step in the purchase order process. In addition to confirming the delivery and acceptance of goods, these notes help stock management clerks maintain accurate inventory records when new goods arrive. Clerks may issue multiple goods received notes to suppliers for single orders when some goods ship separately. Before making a final payment, clerks compare goods received notes from multiple shipments to the payment invoice to make sure the balance is correct.

Learn more about Accounting

Related Questions

Explore