Goods received note

Hi,

U just need to reverse the entry..

Vendor A/c Dr.

To Purchase Returns a/c...

When goods comes the following entry made with movement code 101      Store & Cons. Account Dr

                                                                                                                                                     To GR/IR A/c

& cancel with movement code 102    by reversing the above entry

Kindly tell me whether GRN is to be prepared for Receiving Assets....

Please respond back...