Introduction
Top 35 Source Documents in Accounting are relevant to help accountant in their job. Also, it isadocumentthatserves as proofof transaction that is available in apps that provide such services.
Top 35 Source Documents in Accounting stated below:
1.Purchase Order
The buyer sends this to the vendor. They will then outline exactlywhattheordershould contain and when it should arrive.
2. Sales Invoice
This is a process for managing account receivables. When the seller gives out goods, they will provide a document containing all relevant sale details.
3. Purchase Invoice
This is made for account payables. The seller will enter this as sales invoice while the buyer will enter it as purchase invoice.
4. Debit Note
This is evidence of reduction in purchases and can be useful to support purchases return journal. Furthermore, in customer books, debit note will reduce how much they owe to the seller.
5. Credit Note
This is evidence of reduced sales and support sales return journal. In addition to supplier’s books, credit note reduces the amount owed by the customer.
6. Cheque
This is a special bank note that represents the cash paid by the customer.
7. Revenue receipt
This is used to record the receipt of cash which is a proof that the payment is made.
8. Cash register receipts
This is a business paper that listed the money coming in from customers.
9. Bank or Credit advice
They are debit or credit bank advice. Bank credit advice is bank documents informing the business of an increase made in the business’s bank account. Unlike bank debit advice that is opposite to bank credit advice.
10. Deposit slips
When one receives cheque or cash from customer, the seller will take it to the bank and present.
11. ATM cards
The production of receipt from ATM machine can serve as evidence that money has been taken from the bank account.
12. Bank statements
Thisis a summary of financial transactions that occurred at a certain institution during a specific time period. For example, a typicalbank statementmay show your deposits and withdrawals for a certain month.
13. Bill of exchange
This is an unconditional order in writing, addressed by one person to another, signed by the person giving it. It also require the person to whom it is addressed to pay on demand.
14. Payroll report
This can also refer to the list of employees of a business and the amount of compensation due to each of them.
15. Cancelled Cheque
Thisis acheckthat has been paid or cleared by the bank
16. Cheque Stubs
This is the check kept by the payee with information such as thechecknumber, date, and amount.
17. Employee Timecard
This is a method for recording and tracking the amount of anemployee’s timespent on each job
18. Board minutes or minutes of meetings
The secretary of theboardusually takesminutesduringmeetings.
19. Goods Dispatched Note (GDN)
This a document of the company that lists the goodssent out to a customer. Without a doubt, the company will keep one record of goods dispatched notes.
20. Goods Issues Note (GIN)
Thisis a physical record of the movement ofgoodsor materials from the warehouse or store to production department.
21. Stock take Records
This is also called stock counting. It is when you manually check andrecordall the inventory that your business currently has on hand
22. Stock Record
ABin Cardis a card indicating quantitativerecordsof the receipts, issues and balances etc.
23. Goods Received Note (GRN)
This is source document that shows the goods that a business hasreceived from a supplier.
24. Remittance advice
This source document can confirm the amount paid and shows discrepancies that can easily be investigated.
25. Insurance Endorsem*nt Certificates
This is where one party will add the other party as an “additionalinsured” on their commercial liabilityinsurance policy.
26. Point of Sales Summaries
This can be used to record a number of sales at a cash register.
27. Memorandum
Memo is a written document businesses use to communicate an announcement, policy changes, price increases or notification to take an action, such as attend a meeting, or change a current production procedure.
28. Computer-generated Receipts
This is the kind of receipts is to be generated by the computer.
29. Lease Agreement or Rental Agreement
Lease contracts are formal documents that identify the lessor, lessee, what’s being leased, whether it’s an asset or a property.
30. Sales Tax Returns
This is the taxpayer’s document of declaration. This will enable the taxpayer to furnish the transaction details during ataxperiod and deposits hisSales Taxliability.
31. Cash Register Tapes
This allowed one to keep a record of all customer transactions and/or provide them with a receipt.
32. Adjustment Notes
This are issued to customers due to damaged, returned or undelivered goods
33. Employee Pay Advice
This source document that can helped to provide written evidence concerning employee income.
34. Payroll Advice Report
This payroll reportshelped small businesses understandpayrollcosts and summarizepayrolldata.
35. Evidence of Sale or Disposal of Assets
This is the removal of a long-termassetfrom the company’s accounting records.
Conclusion
Indeed, all these top 35 source documents in accounting are integrated in several apps that offer such accounting services. Moreover, this App made it possible to have all these source documents in one place to make the accountant job easier and simple.
Kindly add your own source documents to the Top 35 Source Documents in Accounting listed above. This will help us to update our records accordingly.
Watch several videos of how to prepare financial statements from source documents
Prepare Financial Statements from Source Documents Part
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