About GRN
Create or import GRNs to your RazorpayX Dashboard.
GRN - Goods Received Note is a document used in procurement to formally acknowledge the receipt of goods.
- When businesses receive goods from a supplier, the receiving department or personnel generate a GRN to confirm the delivery of goods specified in a Purchase Order.
- It also is a confirmation that the goods are in the expected condition, of the requested quantity and rate.
A key part of the procurement process is to ensure that the quantity received is the same as the quantity ordered and is in the aligned rate.
RazorpayX solves this problem with a seamless three-way matching system that reconciles Purchase Orders (PO), Goods Receipts (GRN), and Invoices. This robust process ensures accuracy and compliance, reducing the risk of errors and discrepancies.
With GRN, you can be assured of:
- Confirmed Delivery: It acts as proof that the goods have been delivered as per the Purchase Order. It also maintains a log of receipts tagged to the respective Purchase Orders. The receipt log provides information on:
- Receiver of goods
- Date/time of receipt
- The SKU wise quantity of the goods received
- The effective SKU wise inward post damages/defects
- Three-Way Matching: Match the quantity received against quantity ordered and quantity billed for, to ensure that what you received matches against what you ordered and what you are billed for.
- Easy Escalation: In case of mismatch, conflicts can be easily resolved by matching records.
Handy Tips
Approval Workflows can be applied on GRNs. However, GRNs are created usually by the warehouse team whereas the Purchase Orders/Bills are created by the finance teams. This means that you must create a separate set of Approval Workflows.
To create a new GRN:
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Log in to the
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Navigate to Source to Pay on the left-hand menu.
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Click GRN.
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Click + New GRN. The New GRN modal is displayed.
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From the list of vendors, select the vendor for whom the GRN has to be created. If it is a new vendor, you can click + NEW VENDOR to create a new vendor.
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In the Link PO modal, select the Purchase Order to be linked to the GRN. Click Next.
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Enter the GRN number and GRN date. The rest of the details such as Shipping location, Cost Center, Requested By, Department, and Team is auto-populated on basis of the linked PO as shown below. Click Next.
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Enter the details of the goods received, such as Item name, Description, Received Quantity and Balance Quantity, Rate, Number of Units, and the IGST%. Click Review to verify the information entered. The details entered in the GRN are matched with the details from the Purchase Order. Discrepancies, if any, are displayed by the system as shown here.
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Rectify the errors and click Send for Approval. For cases where approvals are not configured, you can proceed with creating the GRN directly.
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