Goods Receipt

What is a Goods Receipt?

A goods receipt, depending on the context, has two different meaning. One: it is the movement of goods or materials into the warehouse i.e. incoming goods. Two: it is a document that serves as a confirmation to the receipt of materials to the warehouse or the receipt of stock from the vendor or manufacturer.

The goods receipt is a function of purchasing goods in Material Management or the entry to goods receipt accounts in Financial Accounting. Mostly, it is used by companies to ensure the replenishment of semi-finished products, raw materials and supplies, and finished products.