Top 35 Source Documents in Accounting

Various types of source documents in accounting


Top 35 Source Documents in Accounting are the first source of information from which the accounting books are prepared. A source document is the document in which data for a transaction is collected. In addition, this supporting document will be used when recording journal entries for transactions. Also, it is a document that serves as the proof or source of the transaction.  

Top 35 Source Documents in Accounting are stated below:

1.Purchased order

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. What the seller enters as sales invoice, the buyer will enter it as purchase invoice.

4. Debit Note

This is evidence of reduce in purchases. In customer books, debit note reduces how much they owe to the seller. This support purchases return journal.

5. Credit Note

This is evidence of reduce in sales. In supplier’s books, credit note reduces the amount owed by the customer. This support sales return journal.

6. Cheque

This is a special bank note that represents the cash being paid by the customer.

7. Revenue receipt

This is used to record the receipt of cash. A receipt is proof that the payment has been made.

8. Cash register receipts

This is a business paper that lists the money coming in from customers.

9. Bank 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 presented.

11. ATM cards

Received from the ATM machine as evidence that money was taken from the business 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, requiring the person to whom it is addressed to pay on demand or at a fixed or determinable future time a sum certain in money to or to the order of a specified person, or to bearer.

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 it was drawn on after it has been deposited or cashed. The check is “canceled” after it’s been used or paid so that the check cannot be used again. A cancelled cheque is a cheque bearing the account holder’s name, account number and has CANCELLED inscribed across it.

16. Cheque Stubs

This is the part of a check that is kept by the payee with information such as the check number, date, and amount.

17. Employee Timecard

This is also called a timesheet, 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. Written minutes are distributed to board members before each meeting for member’s review.

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. This is because, if there is any case of any queries by customers about the goods sent. In addition, one copy is sent to accounts department to process invoice to the customer.

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. It results in a decrease in stock from the warehouse.

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 the type of document that shows the goods that a business has received from a supplier. Moreover, this kind of record is used by the buyer for comparing the number of goods ordered to the ones delivered.

24. Remittance advice

This is accounting documents sent to a supplier with a payment, detailing which invoices are being paid and which credit notes offset. It also confirms the amount being paid, so that any discrepancies can be easily identified and 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 is 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 receipts generated by computer.

29. Lease Agreement

Lease contracts, also known as rental agreements, are formal documents that identify the lessor, lessee. Also, 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 allows you to keep a record of all customer transactions and/or provide them with a receipt.

32. Adjustment Notes

This is also known as credit notes or refunds which are issued to customers for damaged, returned or undelivered goods

33. Employee Pay Advice

This is any document that provides written evidence of employee income.

34. Payroll Advice Report

This Payroll reports help small businesses understand payroll costs and summarize payroll data.

35. Evidence of Sale or Disposal of Assets

Asset disposal is the removal of a long-term asset from the company’s accounting records.


Kindly add your own source documents not listed amng 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

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Cooperative Accounting

Co-operative society and accounting system.

Cooperative accounting is the applications of financial accounting principles, concepts and policies to cooperatives in order to ascertain its financial position, promote accountability, efficient management and ensure viable operations of co-operative financial resources.

Furthermore, the cooperative law makes the keeping of proper sets of accounting records and the preparation of the final accounts compulsory for every registered cooperative society and sets of information that must be disclosed in the final account.



Member’s passbook is opened for every member which serves as a personal account on which all transactions between a member and the society are recorded. Below is the front- and back-page sample of members passbook.

Sample of members; passbook showing front page and back page


Analysis book is use for recording members’ contributions, loan disbursed and repayment, membership withdrawal, fine and other incomes on monthly basis. Also, this book helps to analyse the transaction on a monthly basis. This book help cooperative to always spread open in front of members at any general meeting of the society.

Sample of Analysis book were various income received by cooperative are analysed.


Personal ledger helps to record member’s contributions of shares, savings, deposits, withdrawals, loan and refunds. In addition, the entries into this book are from the individual’s entries in the analysis book which is also entered in the passbook. With proper recording of transaction, individual cash balances can be seen at a glance.

Sample of personal ledger that shows the total contribution by each member and also their balances.


Loan register is a source document containing information regarding all loans granted at any time. Such information includes membership personal number; member identity number; committee meeting minute number; cheque number. Also, includes amount authorized and approved; amount applied for and granted; date of approval and refund; period of the loan.

Sample of Loan register


Cash receipt helps to record all money received in cash or in cheque. Also, it is financial transactions used as supporting evidence that money have been received on behalf of the society. Moreover, all receipts must be serially numbered and used in that order.

Sample cash receipt used in cooperative society


The cooperative law all over the world made the keeping of proper books of accounting records compulsory. In the light of the above, seeking expert help from those with practical experience become crucial in cooperative accounting system. If you require the best way to manage a co-operative society is to buy co-operative book in

Conceptual Framework

Conceptual Framework

Conceptual framework is dealt with in this post. In line with theoretical foundation and previous research related to this study, a conceptual framework that describes the relationship between environmental accounting and sustainability development in Nigeria. The independent variable (predictor variable) used are oil spillage cost, oil drilling waste disposal cost and degradation as dimensions while the dependent variable (criterion variable) used are human development index and human poverty index as measures.

Conceptual Framework showing Independent Variable and Dependent variable

Figure 1:1 Conceptual framework of environmental accounting and sustainability development in Nigeria

Sources: (List all your source.)



Some school will require you list out the indicators as a bullet under the dimensions of independent variables and measure of dependent variables. Ensure all the indicators are discussed in chapter two (i.e. literature review). One essence of indicator is that it will increase the literature of your work. It will also make it easier for someone to see at glance the direction of your work.

Source of Reference

The essence of the source of reference is because someone may have use one of the dimensions of independent variable and measures of dependent variable before now. So, you have to reference those author accordingly.

Operational Framework

Operational Framework showing the direction of the independent variable and the dependent variable

The model in Figure 2:1 above, showed the relationship between environmental accounting and sustainability development in Nigeria. Environmental accounting is the predictor variable with the following dimensions oil spillage cost, oil drilling waste disposal cost and degradation, while sustainability development in Nigeria is the criterion variable with a measure as human development index and human poverty index, whereas the moderating variable is firm size. The directions of the arrows shows the direction of the study relationship. The operational framework thus, illustrates the hypothesised relationship with each arrows representing a study hypothesis.  In the operational framework each of the dimensions of environmental accounting are linked to the measures of sustainability development in Nigeria.

Heuristic Model

This Heuristic Model below is showing the result of the test between the dimensions of environmental accounting and measures of sustainability development in Nigeria.

This is heuristic model showing the relationship between independent variable and the dependent variable

Figure 5.  1: Heuristic model of environmental accounting and sustainability development in Nigeria


Bold line indicates strong positive significant relationship

Broken arrow indicates weak positive insignificant relationship

This heuristic model in figure 5:1 shows the result of this study based on the hypotheses tested. The framework used an arrow to explain the relationship between variables that is significant and insignificant.


The design of conceptual framework, operational framework and heuristic model are dynamic in nature. All the design does not need to follow this pattern.

Always find out from your school the accepted design. This information shared will guide you as a researcher and student of higher institution in producing a better thesis and publications.

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Top Alternative Dispute Resolution (ADR) in Nigeria.

Alternative Dispute Resolution (ADR) is being practised in Nigeria at the institutional and individual level with and without the involvement of the court system

The list of institutions that practised ADR in Nigeria, namely, The Chambers of Commerce, private enterprises, industry groups etc. In the case of individuals are judges, specially trained practitioners (i.e. arbitrators, mediators, accountants), elders, traditional rulers, chiefs, religious leaders. 

The practitioners involved in ADR is industry-specific that have technical expertise in specific areas like environmental disputes, labour disputes, family law, etc.

The current Nigerian laws have sufficient provisions that have addressed ADR methods in resolving disputes.

These provisions of the laws are discussed below.

(1) The 1999 Constitution

The Constitution is the supreme law of the land that endorses arbitration. Section 19(d) of the Constitution states that part of Nigeria’s foreign policy objective is respect for international law and treaty obligations. Nigeria also seeks for settlement of international disputes by negotiation, mediation, conciliation, arbitration and adjudication.

(2) Arbitration Laws

Nigeria, like other progressive countries, has subscribed to many international ADR Laws and Rules. The United Nations Commission on International Trade Law (UNCTRAL Model Law of 1985) and UNCITRAL Arbitration Rules domesticated in Nigeria under the Arbitration and Conciliation Act (ACA).

(3) Other Federal Acts

Nigerian body of laws is replete with several statutes that provide for arbitration or other ADR mechanisms. A fewer list is mentioned below of the law and the applicable sections: 

  1. Sections 11 and 30 (4) of the Matrimonial Causes Act (Cap. M7 LFN 2004). This section talks about reconciliation between the husband and wife or parties. As they can get the Marriage conciliator to take an oath of secrecy to settle out of court.
  2. section 2, Consumer Protection Council Act, (Cap C25 LFN 2004), 
  3. sections 29 and 33, of the Environmental Impact Assessment (EIA) Act (Cap. E12 LFN 2004), 
  4. Sections 4, 8, 9, 20, 22 of the Trade Disputes Act (Cap. T8 LFN 2004), 
  5. section 11 of the Petroleum Act(Cap. PI0 LFN 2004), 
  6. section 26 of the Nigerian Investment Promotion Commission Act, (Cap. N17 LFN 2004); 
  7. section 27 of the Public Enterprises (Privatization and Commercialization) Act, (Cap. P38 LFN 2004), 
  8. section 22 of the Nigerian LNG (Fiscal Incentives, Guarantee and Assurance) Act (Cap. N87 LFN 2004), 
  9. Section 49 of the Nigerian Co-operative Societies Act (Cap. N98 LFN 2004); 
  10. section 5 of the National War College Act (Cap N82 LFN 2004); 
  11. sections 3 and 6 of the National Boundary Commission, Etc. Act; (Cap. N10 LFN 2004), 
  12. section 3 of the Advisory Council on Religious Affairs Act (Cap. A8 LFN 2004); 
  13. section 4 of the National Office for Technology Acquisition and Promotion Act( Cap. N62 LFN 2004), 
  14. section 4 of the Nigerian Communications Commission Act (Cap. N97 LFN 2004) etc.

(4) Court Laws and Rules

Court laws and rules govern procedures and proceedings for the conduct of business in the court.

Top 55 Balance Sheet Keywords

Top 55 Balance Sheet Keywords

Top 55 balance sheet keywords relevant to business. It all started from account receivables to total non-current liabilities

Top 55 balance sheet keywords are available below

1. Account Receivables

2. Account Payables

3. Accrual

4. Asset

5. Accumulated Depreciation

6. Bank Account

7. Bank Overdraft

8. Bill Payable

9. Cash and Cash Equivalents 

10. Computer Software

11. Copyrights 

12. Current Asset

13. Current Liabilities(within 1year) 

14. Current tax payable( Unpaid Tax)

15. Customer Lists.

16. Deferred tax 

17. Development Cost

18. Dividend payable(Unpaid Dividend)

19. Equity

20. Furniture and Fixtures

21. Goodwill 

22. Intangibles Noncurrent Asset 

23. Inventories 

24. Investments in Associates 

25. Investments in Equity Instruments 

26. Land and building

27. Liabilities 

28. Long-term Asset.

29. Long-term Borrowings 

30. Long-term Provisions 

31. Mortgage Payable 

32. Motion Picture Firm 

33. Net Assets 

34. Net Worth

35. Non-Controlling Interest 

36. Non-current Liabilities (over one year) 

37. Non-current Asset

38. Notes Payable 

39. Other Components Equity 

40. Other Current Assets 

41. Other Intangible Asset           

42. Patents

43. Prepaid

44. Property, Plant and Equipment

45. Retained Earnings 

46. Salary Payable

47. Share Capital 

48. Share part of Long Term Borrowings 

49. Short Term Borrowings (Short-term debt)

50. Short term provisions 

51. Tangible Non-current Asset 

52. Trade Mark

53. Total Assets 

54. Total current liabilities

55. Total Non-current liabilities    

Top 55 balance sheet keywords listed above is for our learning.