Top 35 Source Documents in Accounting
Top 35 Source Documents in Accounting are collated by the author to help accountant in their job. Also, it is a document that serves as the proof or source of the transaction.
Top 35 Source Documents in Accounting stated below:
These are sent by the buyer to the vendor. They will then outline exactly what the order should contain and when it should arrive.
2. Sales Invoice
This is made for account receivables. When an item is sold the seller will issue a document providing all the details of the sale.
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. 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 supplier’s books, credit note reduces the amount owed by the customer.
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. Bank debit advice is opposite of 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
This is a summary of financial transactions that occurred at a certain institution during a specific time period. For example, a typical bank statement may 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
This is a check that has been paid or cleared by the bank
16. Cheque Stubs
This is the check kept by the payee with information such as the check number, date, and amount.
17. Employee Timecard
This is a method for recording and tracking the amount of an employee’s time spent on each job
18. Board minutes or minutes of meetings
The secretary of the board usually takes minutes during meetings.
19. Goods Dispatched Note (GDN)
This a document of the company that lists the goods sent out to a customer. The company will keep one record of goods dispatched notes.
20. Goods Issues Note (GIN)
This is a physical record of the movement of goods or 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 and record all the inventory that your business currently has on hand
22. Stock Record (i.e., Bin card)
A Bin Card is a card indicating quantitative records of the receipts, issues and balances etc.
23. Goods Received Note (GRN)
This is source document that shows the goods that a business has received from a supplier.
24. Remittance advice
This source document can confirm the amount paid and shows discrepancies that can easily be investigated.
25. Insurance Endorsement Certificates
This is where one party will add the other party as an “additional insured” on their commercial liability insurance policy.
26. Point of Sales Summaries
This can be used to record a number of sales at a cash register.
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 a tax period and deposits his Sales Tax liability.
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 reports helped small businesses understand payroll costs and summarize payroll data.
35. Evidence of Sale or Disposal of Assets
This is the removal of a long-term asset from the company’s accounting records.
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 1-3 – YouTube
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