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Why Is Goods Receipt Important To A Company? |
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Answer» GOODS RECEIPT indicates a receipt or inward movement of stock of materials or goods. When an external vendor provides stock to the company, the goods receipt is generated as a PURCHASE ORDER and when the material is produced in-house, the goods receipt is generated as a production order. A goods receipt is important to a company as using a goods receipt moves material into stock, UPDATES the stock levels, and thereby indirectly enables the production process. Goods receipt indicates a receipt or inward movement of stock of materials or goods. When an external vendor provides stock to the company, the goods receipt is generated as a purchase order and when the material is produced in-house, the goods receipt is generated as a production order. A goods receipt is important to a company as using a goods receipt moves material into stock, updates the stock levels, and thereby indirectly enables the production process. |
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