Business Documents Flashcards
Why are business documents important?
They are important because the provide a record of a business’ transactions with other businesses and customers
Letter of enquiry
A letter of enquiry is a letter or email sent by the buyer to the seller asking about particular items and their terms of sale
Quotation
A quotation is a written document that is sent by a seller to a potential buyer and shows the price of the goods and any terms of sale
E&OE
Errors and omissions accepted. The business will not be held responsible if an error is made.
Trade discount
A reduction of the selling price given to business customers.
Cash discount
An extra discount given if the goods are paid for in a short period of time.
VAT
Value added tax. A tax on goods and services.
COD
Cash on delivery. Payment for the goods must be made when they are delivered.
Order
A written document sent by a buyer t a seller requesting the supply of the quantity of goods listed.
Invoice
A document sent by the seller to the buyer with the goods or shortly after the delivery of them, it gives details of the quantity, price of the goods being sent, terms of sale and details about carriage.
Delivery note
A document sent by the seller to the buyer that lists the items being delivered.
Credit note
A document that is sent by the buyer to decrease the amount owed by them.
Debit note
Sent by the seller to the buyer and will increase the amount owed by them.
Statement of account
Sent by the seller to the buyer and is a summary of all the transactions between the two firms over a particular period of time.
Receipt
A written document stating that goods have been paid for
