What is the purpose of a receiving report?

What will be an ideal response?

Upon completion of the physical count and inspection of the items received, the receiving clerk prepares a receiving report stating the quantity and condition of the inventories. This receiving report is sent to various other functions for reconciliation and updating of records.

One copy of the receiving report accompanies the physical inventories to either the raw materials storeroom or finished goods warehouse for safekeeping. Another copy is filed in the open/closed PO file to close out the PO. A third copy of the receiving report is sent to the AP department, where it is filed in the AP pending file. A fourth copy of the receiving report is sent to inventory control for updating the inventory records. Finally, a copy of the receiving report is placed in the receiving report file.

PTS: 1