What can be the discrepancies in material receipt?

What can be the discrepancies in material receipt?


There are two categories of material discrepancies:

First category includes -

- Quantity received in excess
- Quantity received in short
- Quantity damaged
- Receipt of incorrect quantity of material.

These discrepancies are normally caused by the transportation system.

Second category includes – Discrepancies in quality of material supplied.
These discrepancies are caused by the manufacturer.
Differentiate between Bin Card and Stores Ledger.
Bin Card is a quantitative record of the individual item of its receipts, issues and closing balance whereas
What can be the reasons for bin card and stores ledger not getting reconciled?
The following can be the reasons for bin card and stores ledger for not getting reconciled:..
Explain valuation of receipts.
Valuation of receipts is the price billed in the invoices by the supplier. Following points should be kept in mind for this purpose…
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