Inward of goods received or 'inwards' is an important step in procurement management. Inward is a mechanism of recording the goods received at a warehouse, shipment center, stockroom, etc. At this stage, the received goods are not added to the available stock or general ledger but it's merely a way to record quantities or items received from vendors and suppliers. This allows for items received to be inspected or QCed before being accepted. If there are any issues, the inwards can be reversed, canceled, or returned.
Inwards are usually based on POs raised, but this isn't always the case. In some scenarios, items not on a PO may be included as inwards, and sometimes goods are received from one vendor with multiple POs. It's also possible to record inwards partially received from a PO.
In Aerchain platform, managing inwards is a simple process. You can do the following:
Create Inwards for Purchase Order (PO) and Non-PO items Through the Aerchain platform, you can easily create Inwards or GRN for PO and Non-PO items. To do so; From the Aerchain dashboard, click on the “Modules'' from the header and select “Pending Inwards''. The Inwards Listing screen will show a summary of the Inwards for POs and Non-POs Items along with their statuses. Here, we have two separate sections for PO and Non-PO items which displays the list of all the pending Inwards and their statuses. You can create an inward by clicking on the code, and a view page of the PO item will open. Select the “Inward” button, and you will see a form that contains supplier information. You can fully inward a particular PO if it is partially-inward then, by selecting the "Last stock Inward" option in the form. Enter all the necessary details in the Inward form. Finally, click on the “Inward” button to complete the process of Inward creation.
Track Inwards Across Different Stages Now, once the creation of Inwards completes. You can effortlessly track your Inwards and do the quality check of the constituent PO and Non-PO items across different stages. From the header, go to "Modules"> Select "Inwards" . You can see a list of all Inwards which includes details such as Code, PO code, Date, Supplier, Facility, Ledger, Created by, Status and Match Status. There are various filters which you can use to display the Inwards list as per your needs. The "Status" column displays the processing status of the inward items for each purchase order. Also, you see whether the Inwarded items are matched with the PO or not through "Match Status" column.
Understanding the meaning of different Statuses in the Inwards Listing page as below:
- Inwarded Status: When all the items have been inwarded, then it will display on the Inward listing page.
- Partially Rejected: If the part of items delivered have been rejected by the supplier,. Then, this status will display. So, that the you can check the invoices.
- Rejected: This will display you the invoices where the entire consignment has been rejected as a whole.
- Cancelled: This will display invoices that have been cancelled by the supplier.
- Reversed: This status display if any deliveries that have been received and then returned due to some issues with the purchase order.
- Done: When the items have been inwarded and matched, the status changes to "Done".
There is also the "Match Status" column which is used to view whether the inwarded goods match the PO by selecting the drop-down menu under match status. There are three statuses i.e. Pending, Invoiced or Matched, and Partially-matched.
- Pending: This status means that the matching has not been done or not matching with the purchase order.
- Matched Invoiced: Once, the matching is done or the inwarded items are matched with the PO. It will display a complete green circle on the dashboard.
- Partially-matched: For invoices, where only some of the items match the PO, but not all. You will see a blue semi-circle on the dashboard.
Close POs when deliveries are completed When the above steps are completed, the goods or products are delivered and inspected. Thereafter, the purchase order is closed and status on the Inwards listing page will change to "done".
Create Reversals for Inward Stock You can create a reversal for Inward stock in case you face some issues with the items inwarded. To perform this, you need to go to the Modules from the header and select the Inwards. On the Inwards listing page as you will see all the Inwards. Select the Invoice code for which you want to raise a reversal and click on +New Reversal button. The Inward Reversal form gets open. Enter all the necessary information in the form such as reference number, attach documents, reversal quantity, notes, etc. and add the reason for reversal. Finally, click on the "Submit" button to initiate the reversal process.
In the next article, you will learn how to create Inward for PO and Non-Items in the Aerchain Customer Portal.