Business documents Flashcards
only the descriptions
What is an Invoice
A document issued by a business when making a credit sale
What is a trade discount
A discount given by one business to another. It is calculated as a percentage reduction in the invoice quantity
What is a debit note (with reasons)
A document issued by a business to the supplier when the goods received are unsuitable. It is from buyer (us) to the supplier.
There may be wrong products received, faulty products, incorrect goods, wrong specifications.
What is a Credit note
When the supplier is accepting the returned goods because they are unsuitable, they will issue a credit note. It may be issued if the business was originally overcharged on an invoice.
What is Statement of account
A document issued to all customers still owing money to the business. It contains details relating to the transactions taking place between the business and the customer.
