For effective inventory management, POS software uses multiple tools. All of these tools are designed to help businesses get complete control of their inventory and maintain a system to run their business.
Goods Received and Goods Received Return Note are two tools that help retail and restaurant owners manage their business operations, especially inventory management using POS software.
In this article, we will discuss what is Goods Received Note & Goods Receive Return Note, and how it helps in effective inventory management.
What Is a Goods Received Note?
Goods Receive Note is a document that is generated by the business when it receives goods from any vendor. The document contains a code that is called GRN Number, this number is used as an identification code for any item received by the business.
The GRN section allows the user to enter every detail of the products received. The GRN section makes sure the user enters the batch number, number of units, price, vendor’s name, delivery date, expiry date, tax on it, and discount received on that purchase.
The GRN section is linked to the purchase order section, as GRN is generated when the purchase order is completed.
What Is Goods Receive Return Note?
Goods Receive Return Note is also known as purchase return. This document is generated using the GRRN section of the POS software. This code is generated when a business returns the products purchased from the vendor. The GRRN section allows users to enter all the required information along with additional remarks stating the reason why the goods are returned to the vendor.
Benefits Of GRN & GRRN Section In Inventory Module Of POS Software:
When it comes to the benefits of these two sections GRN and GRRN you may find many, but here we will discuss some important benefits of using these sections in POS Software.
- Track Inventory Inflow
- Maintain Detail Inventory Record
- Enhances Purchase Order Management
Track Inventory Inflow:
Retail businesses experience constant inflow and outflow of inventory every day. To maintain seamless sales operations it is important to make sure that our inventories never get short. For that business uses the purchase or procurement department to purchase goods for the business.
Sometimes they are finished goods and sometimes they are raw. To track the inflow of inventory POS software generates GRN that tracks and monitors all inventory inflow by the purchasing department. Whatever product that has been entering the system has to be passed through the GRN section and must have its GRN code to be listed in the inventories sections.
The GRRN section also contributes in this regard as it tracks all goods that are returned to the vendors because of any reason. This section helps in the reconciliation of stocks and tracking the goods returned back to the vendor.
Maintain Detail Inventory Record:
Inventory management needs to be detailed and able to track all inventories getting in and out of the business. To maintain detailed inventory the system has to keep an eye on every transaction involving inventory.
GRN and GRRN sections help in maintaining detailed inventory records for the business. It enters all the details when the inventory stock is received at the store. From then the system will keep a log of it and generate the code that helps in the identification of the batch and purchase order.
Enhances Purchase Order Management:
As mentioned above, GRN and GRRN sections are directly related to the purchasing order management section in POS software. When a vendor fulfills a purchase order and delivers the stock the inventory managers and employees check the inventory for any damages and wrong products.
Once the product is verified by them then the employees generate the GRN number for that batch and list the inventories under the system. If the managers are not satisfied with the product then they return the goods to the vendor by generating a GRRN number that keeps in the data identifying when the goods are returned and the reason for it.
This is how GRN and GRRN help businesses enhance their purchase order management using the POS software inventory management section.
Why Is CISePOS The Best POS Software Choice For You?
With all the functionalities and benefits discussed above, you might feel confused about which software has all these features in one. Well! The answer is simple, you can have all these features in the form of CISePOS.
CISePOS being the number POS software in Pakistan has proven its efficiency and details inventory management with hundreds of trusted clients. Although all the features of CISePOS are integrated at their best to help businesses, our inventory management module is the one which we are really proud of.
Register for a free trial now and enjoy seamless sales operations along with effective inventory management.