3.2 Flashcards
Name other business documents
Bank statement Budget variance report Delivery note Goods received notes repair request form payslip receipt remittance advice
What is a bank statement and what does it show
a summary of transactions taken place during a period and it shows the opening balance, money leaving the account, money paid into the account and the closing balance
What is a budget variance report
an internal document that is used to inform business decisions it is a budget report that states expected costs vs actual costs and helps identify businesses best and worst performances
How to work out variance %
Actual cost- budgeted data / budgeted data x 100
Two types of variance and what do they mean
Favourable- the cost is in the businesses favour and is actually better than the figure they expeceted
adverse- not good and the figure is worse than the budgeted figure
what is a delivery note
document sent by the supplier to the customer confirming the item and quanties in the package
what is a receipt
a document that is a proof of purchase showing the goods and services have been paid for
what is a payslip
document issued to employees showing employees a record of pay of what they have earnt and received
what is a repair to request form
internal business document used to inform maintenance staff of faults such as equipment faults
the form would include a description of the fault, the location of the fault and who is reporting the fault
