3.1 Flashcards
What are transaction documents?
Records a transaction between two parties
Can be printed or electronic
What terms and abbreviations may be used?
COD (cash on delivery)
E&OE (errors and omissions excepted)
T&C’s (terms and conditions)
Terms
What is COD?
Pay for goods on delivery rather than before or after
What is E&OE?
Disclaimer on invoice or similar document showing that the supplier is attempting to reduce any legal liability due to administrative errors or inaccuracies
What is T&C’s?
Restrictions or statements relating to delivery charges, arrangements or payment terms
What are terms?
Time by which payment is expected
What is a purchase order?
Legally binding document between a supplier and a customer/buyer.
Lists items the buyer has ordered and the agreed purchase price
May also state delivery date and payment terms for buyer
What is an invoice?
Document a business issues to customers requesting payment for goods or services
What is a credit note?
Sent by seller/supplier to a customer, at end of month.
States all transactions over last period including details of invoices issued, payments received and credits applied
Final balance shows total amount owed by customer on that date
What is a travel expense claim form?
When an employee travels they can claim expenses (petrol costs, train fares, taxi fares, car parking)
If employee owns car, must record mileage as petrol costs often reimbursed at ‘x’ pence per mile
Forms need to be signed by line manager to confirm journey was necessary.
What are examples of internal documents?
Travel expense form
Petty cash voucher
Stock requisition form
IT requisition form
Reprographics requisition form
What is a petty cash voucher?
Form that records the amount removed from the petty cash float by an authorised person.
Employee will need to provide receipts which will be attached to the petty cash voucher as a proof of purchase
What is a stock requisition form?
Completed when goods need to be ordered for relevant use.
Form is sent to purchasing department which then orders goods on behalf of employee/department
What is an IT requisition form?
Request for IT equipment to be ordered.
Completed by employee or manager requesting the equipment and ten forwarded to purchasing function once authorised
What is a reprographics requisition form?
Completed by an employee requiring either photocopying to be done or other reprographic services
