Understanding GRN Posting
As you know, the cost price of various goods and services is variable and can change periodically. For example, 20 pieces of a particular item can cost 100 per piece, and 40 pieces of the same item (when you purchase it next time) cost 120 per piece. This makes it important to calculate the average cost that can reflect realistic profit margins.
Depending on the nature of the business, such cost changes can be occasional or frequent. Cost price management is important for two critical reasons:
- To reflect accurate profitability
- To give a correct estimate of your inventory value
GRN posting does three things:
- Creates average cost price
- Locks all purchase transactions till the GRN posting date thus no changes can be made to such transactions
- Once the GRN posting is done, cost will update in the system and the new weighted average cost will show on the Product Definition, and profit margins will be reflected accordingly in all reports
To access the GRN posting screen, from the main menu select Purchase>Goods Receipts Posting.
System generated posting number will appear in Posting Number field.
Click Calendar icon in Posting From and Posting To fields to select the date range.
Hover over the icon next to the Posting Number field. Click this.
All GRNs falling within the selected data range will populate the grid.
If you want to, you can enter comments for reference.
The list view will show details dates and numbers of GRN posting records.
How to delete GRN Posting?
To delete a GRN posting, simply click the Delete button. The last posting will be deleted from the Details grid.