Book of prime (original) entry Source document Cash book Cheque counterfoil Answer: Book of prime (original) entry Source document Cash book Cheque counterfoil The type of source document (i.e. If the receipt is received, it means They includes Cash sale receipt: - a document that shows that cash as been received or paid out of the business either in form of cash or cheque. Cheque Payment Voucher (CPV): a document that acknowledges the amount to be paid for goods or services received from a supplier: - Date. In each case name a source document for that book. Cash register receipts. Original invoice. A payment voucher is an authorizing document for a payment. In the past, source documents were always some sort of physical paper copy. Receipts. Common source documents Source documents are generally related to the particular activity as shown in the table below: Business Activity Source documents Cash received by the business Cash receipt (copy), cash register tapes, bank statement, bank deposit slip Cash paid by the business Cheque butt, ATM or EFTPOS receipt, A source document is the original document that contains the details of a business transaction. SOURCE DOCUMENTS - Evidence that the transaction has taken place [if you have bought a chocolate at Shoprite you would have been given a till slip] - Identify which source document you have received or have given - Examples of source documents DuplicateReceipt Till slip [CRR- cash register roll] On 1 September 2010 Sohara . Below is a list of ten that are used regularly by most businesses. Post the individual entries in the cash receipts book to the Credit column of the customers account in the Sales Ledger. After the initial recording, all documents should be preserved and organized into a file and put into a system so they can be retrieved at any time. The cash book is updated from original accounting source documents, and is therefore a book of prime entry and as such, can be classified as a special journal . documents. The documents come in all sorts of shapes, sizes, colors and types of paper. The source document for this task is the Cash Receipts (Bank Lodgement) Book. The quantities, amounts, and the currency of the transaction. Quotes. - supplier invoices. She offers a cash discount of 3% to her debtors for payment within 15 days. - customer invoices. A source document describes all the basic facts of the transaction, such as the amount of the transaction, to whom the transaction was made, the purpose of the transaction, and the transaction date. Some examples of source documents include: Bank Statements Payroll Reports Invoices Leases & Contracts Check Registers Purchase Orders Deposit Slips - not included on a bank statement Check Copies - not included on a bank statement Evidence of a Sale or Disposal of an Asset Credit Card Statements Amortization Schedules Sales Tax Returns These small expenditures are usually paid using coins and currency notes rather than checks. Thus, the source documents provide very detailed information for the books' preparation. - cash receipts. 1. Check and check counterfoil. - Reference number. If the receipt is received, it means Petty cash voucher. Nowadays, these documents do not necessarily need to be a physical hard copy - they may be in a traceable electronic form. Understanding those accounting sources of documents is quite essential, and it may help you easily communicate to your coworker and auditors. Cash memo is a source document in which all transactions pertaining to cash sales or purchases are to be recorded. Statement of account. The cash book is a chronological record of the receipts and payments transactions for a business. It is also important to make a record of . Source documents are the physical basis upon which business transactions are recorded. Source documents are the physical basis upon which business transactions are recorded. 2 (a) Name two books of prime (original) entry which a trader may keep. A cheque is a written instruction to pay a specific person an amount of money. Value of the transaction; We obtain information on transactions from the source documents to record in the prime entry books. Common source documents include: Canceled checks Invoices Cash register receipts Computer-generated receipts Credit memo for a customer refund Credit note. Source document number - We enter the number of the source document to cross-refer back to the original source document. This is from a current/cheque account. As mentioned in the previous lesson, the source document is the first document that exists relating to a transaction. Value of the transaction We obtain information on transactions from the source documents to record in the prime entry books. Receipts (Cash or Credit) Receipts are documents confirming that cash or goods have been received. Time to keep accounting source documents. - cash register tapes. here are some examples of source documents: - credit card receipts. Cash sale receipt: - a document that shows that cash as been received or paid out of the business either in form of cash or cheque.It is a source document that is mainly used in making records in the cash journals cash book, cash accounts or bank accounts. The cash book is a chronological record of the receipts and payments transactions for a business. Both businesses (or people) involved in the transaction will get a copy of the accounting source document produced. Any information generated through source documents should be properly recorded in either the company's journal, accounting software, or financial books. CJ. Source documents are frequently identified with a unique number, so . Common source documents include: Canceled checks. Books of cash invoices and sales may be purchased at a stationery shop. The quotes will be looked at, discussed and a decision made as to which seller to buy the product . CPJ. bank column debit side and cash column credit site.2) when goods purchased on cash credit to cash book and goods acct will debited.3) when cash received then cash book debit and other will credit all this example is called double entry and contra entry. Petty Cash and Cash Voucher Video Lecture From Source documents required for Accounting Chapter of FYJC Book Keeping & Accountancy Subject For TYBCOM Student. This is used to record cash and cheques that have been issued to the creditors/out of the business. The cheque is issued to the person being payed. Source documents are typically retained for use as evidence when auditors later review a company's financial statements, and need to verify that transactions have, in fact, occurred. Receipts thus normally relate to payment that has been made by cash or through a debit or credit card. - time cards. An example has been provided. Petty cash book. Unlike other special journals such as the purchases journal or the sales journal, the . They are external documents or documents related to external activities which are first input in the accounting source systems. There are many different types of source documents.
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