Receiving report

Receiving report
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Receiving report is a document given in the moment when materials or products are gotten from providers, in ordered quantity and satisfactory conditions. Subsequently, the getting division gets ready pre-numbered accepting reports. In order to make receipt of services documented a duplicated supplier's invoice might be used to validate receipt and make payment authorized [1]. Among many elements of the mentioned document the following can be found [2]:

  • "purchase order number,
  • supplier's name,
  • supplier's address,
  • date received,
  • details of the individual items received".

Process of receiving document

When requested goods are delivered, a getting program checks the information against the open buy document. Afterward, all distinguish or incorrect purchase orders will be shown on the terminal screen. At the moment merchandises are acknowledged, the framework will print receiving report, update stock document, take out or diminish the pieces, note the amount got in the open buy request record and note the receipt in the vendor history document. In a case when back-order happens, an appropriate document is uploaded instantly [3]. The buying specialist contrasts the accepting Report and the merchant's receipt and the buy request to discover that the materials got are those arranged and charged. In the case that the given records concur, the acquiring operator initials or stamps the two duplicates of the accepting report[4]. Except for the original one, accounting system makes three duplicates of receiving report, one for archives of receiving department, second for department of purchase in order to match it with adequate purchase order, and the last one for shoe department to verify if the received item is same as requested [5].

Meaning of receiving report in Accountancy

Each bill must be related to a unique buy request and an accepting report to guarantee that the item or administration was legitimately requested and agreeably given. Sometimes proof of order is not conveyed to Account Payables and this is the reason for unpaid invoices and delivery on hold [6].

Footnotes

  1. Van Belle (2000), p. 460
  2. Van Belle (2000), p. 460
  3. Van Belle (2000), p. 463
  4. Vanderbeck E. J, (2013), p. 78
  5. Norton C.L (2014), p. 317
  6. Joyce J.D. (2009), chapter 9

References

Author: Maria Kucz