What is the GANI?

GANI stands for Goods Accepted Not Invoiced. It represents items that have been received but have not yet been invoiced by the supplier. This is a common practice in business operations, allowing goods to be received immediately while the invoice is issued at a later date.

Key Points

1. Purpose:

   • GANI helps track goods that have been received but not yet accounted for in the Purchase Ledger.

2. Benefits:

   • Ensures accurate stock management.
   • Provides a clear record of outstanding supplier invoices.
   • Maintains financial accuracy by recording liabilities.

3. Process:

   • Goods are received into the system and marked as "accepted".
   • The corresponding invoice is posted later, reducing the GANI balance.

Example

• Scenario:
  • A company receives a delivery of parts on Monday but doesn’t receive the supplier’s invoice until Wednesday.
  • The goods are recorded under GANI on Monday to reflect the received stock.
  • Once the invoice is received on Wednesday, the GANI balance is reduced as the cost is moved to the Purchase Ledger.