ACC1- Source Documents

An invoice can be in the form of a cash receipt in a shop or as a note left with the goods, or if on credit, then the ionvoice will tell you when you are to pay it back

- It is used when buying/selling goods or services

- The seller creates the invoice 

It tells you;

-whats owed

-when it should be paid

-details of goods/services provided 

- Used when a buyer returns faulty/unwanted goods that have been bought on credit

- The seller prepares the credit note

- The credit note is sent to the buyer, reducing the amount of money owed (e.g if they bought more than the one item they are returning) 

It tells you;

-amount reduced by

-amount owed still (if any) 

Paying-in slip counterfoils

Cheque counterfoils

Info from Bank Statements (DD/BACS) 

-all used as source documents to show the bank account transactions