SOURCE DOCUMENTS
Business activities are called transactions. The first record of a transaction is made
source document that will serve as evidence of what took place on the material da
INVOICE
An invoice is sent when goods are sold on credit. It is a source document for credit
transactions
Credit note
when a client returns the goods returns the goods returned a credit n
issued to evidence the return of goods.
Advice note
Is a document that confirms the receipt and dispatched of customer order
document is sent by a supplier to a customer to inform him that the good
ordered has been dispatched.
1
, Receiptts: Written acknowledgments of payments received from
customers, clients, or other parties.
Bank Statements: Monthly records provided by banks detailing
transactions, balances, and other financial activities related to an
account.
A consignment note is a document used to detail the contents of a
shipment, the conditions of the goods being transported, and the
terms of delivery. It serves as a record of the items being sent from
one party (usually the sender or consignor) to another party (the
recipient or consignee). Consignment notes are typically included
with the goods being shipped and are used for tracking and
verification purposes.
A debit note is a commercial document issued by a seller to inform a
buyer about an increase in the amount owed or a debit balance in
their account. It is used to notify the buyer of additional charges,
adjustments, or corrections to an invoice that was previously issued.
Debit notes are commonly used in accounting and business 2
transactions to record changes to financial accounts.
, BOOKS OF PRIME ENTRY
Books of prime entry (or books of original entry) are accounting books where transactions are recorded,
source of information being the source documents.
Sales Day Book or Sales Journal
This keeps a record of all goods sold on credit for profit purposes. Source document – Sales Invoice
Sales Returns Journal or Returns Inwards Journal
This keeps a record of goods previously sold on credit, but have been returned by the customer. Source
document – Credit Note
The Purchases Day Book or Purchases Journal
This keeps a record of all goods bought on credit from suppliers meant for resale to make a profit. Source
document – Purchases Invoice.
3
Business activities are called transactions. The first record of a transaction is made
source document that will serve as evidence of what took place on the material da
INVOICE
An invoice is sent when goods are sold on credit. It is a source document for credit
transactions
Credit note
when a client returns the goods returns the goods returned a credit n
issued to evidence the return of goods.
Advice note
Is a document that confirms the receipt and dispatched of customer order
document is sent by a supplier to a customer to inform him that the good
ordered has been dispatched.
1
, Receiptts: Written acknowledgments of payments received from
customers, clients, or other parties.
Bank Statements: Monthly records provided by banks detailing
transactions, balances, and other financial activities related to an
account.
A consignment note is a document used to detail the contents of a
shipment, the conditions of the goods being transported, and the
terms of delivery. It serves as a record of the items being sent from
one party (usually the sender or consignor) to another party (the
recipient or consignee). Consignment notes are typically included
with the goods being shipped and are used for tracking and
verification purposes.
A debit note is a commercial document issued by a seller to inform a
buyer about an increase in the amount owed or a debit balance in
their account. It is used to notify the buyer of additional charges,
adjustments, or corrections to an invoice that was previously issued.
Debit notes are commonly used in accounting and business 2
transactions to record changes to financial accounts.
, BOOKS OF PRIME ENTRY
Books of prime entry (or books of original entry) are accounting books where transactions are recorded,
source of information being the source documents.
Sales Day Book or Sales Journal
This keeps a record of all goods sold on credit for profit purposes. Source document – Sales Invoice
Sales Returns Journal or Returns Inwards Journal
This keeps a record of goods previously sold on credit, but have been returned by the customer. Source
document – Credit Note
The Purchases Day Book or Purchases Journal
This keeps a record of all goods bought on credit from suppliers meant for resale to make a profit. Source
document – Purchases Invoice.
3
