Financial documents Flashcards
Enterprises use a range of financial documents throughout the buying and selling process to record the sale and purchase of goods and services.
What are examples of common financial documents?
Examples of common financial documents are:
1) Purchase order
2) Delivery note
3) Invoice
4) Receipt
5) Credit note
6) Statement of account
Enterprises use a range of financial documents throughout the buying and selling process to record the sale and purchase of goods and services.
Examples of common financial documents are purchase order, delivery note, invoice, receipt, credit note, statement of account.
Financial documents used in the buying and selling process …
Financial documents used in the buying and selling process are linked, because they connect with each other
Enterprises use a range of financial documents throughout the buying and selling process to record the sale and purchase of goods and services.
Examples of common financial documents are purchase order, delivery note, invoice, receipt, credit note, statement of account.
1) Purchase order:
What is a purchase order?
A purchase order is a legal offer to buy goods from the supplier that is completed by the buyer (the customer) and is sent to the supplier requesting the products
Enterprises use a range of financial documents throughout the buying and selling process to record the sale and purchase of goods and services.
Examples of common financial documents are purchase order, delivery note, invoice, receipt, credit note, statement of account.
1) Purchase order:
A purchase order is a legal offer to buy goods from the supplier that is completed by the buyer (the customer) and is sent to the supplier requesting the products.
What does a purchase order list?
A purchase order lists the items required, including the price agreed and the quantity
Enterprises use a range of financial documents throughout the buying and selling process to record the sale and purchase of goods and services.
Examples of common financial documents are purchase order, delivery note, invoice, receipt, credit note, statement of account.
2) Delivery note:
A delivery note
A delivery note is completed by the supplier and it is sent to the customer when the goods are delivered
Enterprises use a range of financial documents throughout the buying and selling process to record the sale and purchase of goods and services.
Examples of common financial documents are purchase order, delivery note, invoice, receipt, credit note, statement of account.
2) Delivery note:
A delivery note is completed by the supplier and it is sent to the customer when the goods are delivered.
What does a delivery note list?
A delivery note lists:
1) Details about the order, including contents of the delivery
2) Any goods not supplied, with reason for non-delivery
Enterprises use a range of financial documents throughout the buying and selling process to record the sale and purchase of goods and services.
Examples of common financial documents are purchase order, delivery note, invoice, receipt, credit note, statement of account.
2) Delivery note:
A delivery note is completed by the supplier and it is sent to the customer when the goods are delivered.
A delivery note lists details about the order, including contents of the delivery, and any goods not supplied, with reason for non-delivery.
What is a delivery note used for?
A delivery note is used by the customer to check that the goods delivered match the goods requested on the purchase order
Enterprises use a range of financial documents throughout the buying and selling process to record the sale and purchase of goods and services.
Examples of common financial documents are purchase order, delivery note, invoice, receipt, credit note, statement of account.
3) Invoice:
What is an invoice?
An invoice is completed by the supplier and it is a request for payment, sent to the customer, either on receipt of the goods or shortly after
Enterprises use a range of financial documents throughout the buying and selling process to record the sale and purchase of goods and services.
Examples of common financial documents are purchase order, delivery note, invoice, receipt, credit note, statement of account.
3) Invoice:
An invoice is completed by the supplier and it is a request for payment, sent to the customer, either on receipt of the goods or shortly after.
What does an invoice list?
An invoice lists:
1) The price of the goods delivered
2) Delivery charges
3) The amount owed to the supplier
Enterprises use a range of financial documents throughout the buying and selling process to record the sale and purchase of goods and services.
Examples of common financial documents are purchase order, delivery note, invoice, receipt, credit note, statement of account.
3) Invoice:
An invoice is completed by the supplier and it is a request for payment, sent to the customer, either on receipt of the goods or shortly after.
An invoice lists the price of the goods delivered, delivery charges and the amount owed to the supplier.
What does an invoice also do?
An invoice also:
1) States the date by which the money must be paid
2) Explains how to pay, for example by bank transfer
Enterprises use a range of financial documents throughout the buying and selling process to record the sale and purchase of goods and services.
Examples of common financial documents are purchase order, delivery note, invoice, receipt, credit note, statement of account.
4) Receipt:
What is a receipt?
A receipt is a record of payment made by the customer and it is completed by the supplier and sent to the customer
Enterprises use a range of financial documents throughout the buying and selling process to record the sale and purchase of goods and services.
Examples of common financial documents are purchase order, delivery note, invoice, receipt, credit note, statement of account.
4) Receipt:
A receipt is a record of payment made by the customer and it is completed by the supplier and sent to the customer.
When is a receipt rarely used?
A receipt is rarely used when enterprises sell goods on credit (revise statement of account)
Enterprises use a range of financial documents throughout the buying and selling process to record the sale and purchase of goods and services.
Examples of common financial documents are purchase order, delivery note, invoice, receipt, credit note, statement of account.
5) Credit note:
What is a credit note?
A credit note is completed by the supplier and sent to the customer and it confirms money refunded to the customer or may be used by the customer when buying other products in the future
Enterprises use a range of financial documents throughout the buying and selling process to record the sale and purchase of goods and services.
Examples of common financial documents are purchase order, delivery note, invoice, receipt, credit note, statement of account.
5) Credit note:
A credit note is completed by the supplier and sent to the customer and it confirms money refunded to the customer or may be used by the customer when buying other products in the future.
What does a credit note list?
A credit note lists any goods that may have been returned by the customer
Enterprises use a range of financial documents throughout the buying and selling process to record the sale and purchase of goods and services.
Examples of common financial documents are purchase order, delivery note, invoice, receipt, credit note, statement of account.
6) Statement of account:
What is a statement of account?
A statement of account is completed by the supplier and sent to the customer and it is a financial summary of the goods ordered, purchased or returned by the customer over a period of time, usually a month
