Inventory Management
1. Challan
It is an official document used as a receipt or proof of payment, often for taxes, fines, or fees. It is commonly issued in transactions with government authorities, banks, or for traffic violations.
2. Goods Receipt Note (GRN)
A Goods Receipt Note (GRN) is a document used to acknowledge the receipt of goods or materials in a business. It verifies the quantity and condition of items received and is used for inventory and quality control purposes.
3. TAX Invoice
A Tax Invoice is a document issued by a seller to a buyer that specifies the products or services sold, the amount charged, and the applicable tax. It serves as proof of the transaction and is used for tax reporting purposes.
4. Performa Invoice
A Proforma Invoice is a preliminary bill of sale sent to a buyer before the goods or services are delivered. It outlines the expected costs, including items, quantities, and prices, but is not a final demand for payment.
5. Purchase Order
A Purchase Order (PO) is a formal document issued by a buyer to a seller, outlining the products or services to be purchased, quantities, agreed prices, and delivery terms. It serves as an official request to initiate a purchase.
5. Quotation
A Quotation is a document provided by a seller to a potential buyer, outlining the price and terms for goods or services offered. It is typically given in response to a request and serves as an offer to sell at specified conditions.
5. Stock Statement
A Stock Statement is a report that tracks inventory levels, including opening stock, purchases, sales, and closing stock over a specific period. It helps businesses manage stock efficiently and maintain accurate financial records.
5. Work Order
A Work Order is a document that authorizes and details the tasks to be performed, including scope, materials, and timelines, often used in service or maintenance industries to manage and track work.
