Business Documents Flashcards
Who completes a delivery note?
Supplier
Who completes a purchase order?
Customer
Who completes a good received note?
Customer
Who completes an invoice?
Supplier
Who completes a credit note?
Supplier
Who completes a statement of accounts?
Supplier
Who completes an remittance advice slip?
Customer
Who completes a cheque?
Customer
Who completes a receipt?
Supplier
What is a trade discount
It is money off for businesses in the same trade
1) it encourages repeat business
2) for bulk buys
3) it encourages new custom
What is E&EO
Errors and omissions expected
It is put onto an invoice so that any errors can be corrected at a later date without any comeback on the business
What is VAT
Value added tax
Raises revenue for the government
Revenue raised is used by the government to provide services for the community
List the flow of documents
Purchase order Delivery note Goods received note Invoice Credit note Cheque Remittance advice slips Receipt Statement of accounts
What is cheque
A cheque is a document instructing a bank to pay money from one account to another
What is a credit note
Credit notes are documents that tell customers that tell customers that they need to pay less than they were previously asked to pay, or that a refund is due
