3.1 Source Documents

Question 1

What are Source Documents?

Answer 1

Provide evidence of transactions - goods or services being bought or sold, and money being paid or received

Question 2

8 Types of Source Documents

Answer 2

• Sales Invoice
• Purchase Invoice
• Credit Notes
• Cheque Counterfoils
• Paying-in Slip Counterfoils
• Cash Receipts
• Till Rolls
• Bank Statements

Question 3

Sales Invoice

Answer 3

Documents issued when goods or services have been sold on credit

Question 4

Purchase Invoice

Answer 4

Documents received when goods or services have been purchased on credit

Question 5

Credit Notes

Answer 5

• Documents issued to show goods previously bought on credit have been returned and do not have to be paid for
• Issued for purchase returns and sales returns

Question 6

Cheque Counterfoils

Answer 6

Stubs in chequebooks, providing a record of money paid out by a business

Question 7

Paying-in Slip Counterfoils

Answer 7

Stubs in chequebooks, providing a record of cash and cheques banked by the business

Question 8

Cash Receipts

Answer 8

Documents given when immeidate payment has been received for a purchase of goods or services

Question 9

Till Rolls

Answer 9

Lists the amounts sold or paid for during a specific day and the total value of cash sales during the day

Question 10

Bank Statements

Answer 10

Sent to businesses by their bank, showing each individual receipt and payment to and from the bank account, and the balance of the bank account at a given date