Goods Receipt Note (GRN)
A document recording that goods ordered were physically received, used to match a purchase order to the invoice that follows it.
Related terms
- General Ledger
The complete set of accounts recording every financial transaction a business enters into, from which the trial balance is extracted.
- Going Concern
The assumption that an entity will continue to operate for the foreseeable future, without any intention or necessity of liquidation — the auditor evaluates whether this assumption remains appropriate.
- Gratuity
A statutory lump-sum benefit payable to an employee on retirement, resignation after five years' service, or death, computed under the Payment of Gratuity Act and usually recognised using an actuarial valuation.
- GST Credit Note / Debit Note
Documents issued to adjust a previously issued GST invoice — a credit note to reduce the taxable value or tax, a debit note to increase it.
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