FABM 2 Flashcards
are used to document
business transactions
Business forms
The contents of the form give the
reader an understanding of the various
aspects of the transactions such as
(1) quality and quantity
of merchandise requested, ordered,
or delivered;
(2) price agreed upon for the
merchandise;
(3) The person who prepared the form
and;
(4) officers who authorized the
transaction.
These are used only within the company
INTERNAL BUSINESS FORMS
These forms may be used on the side of the seller only or the buyer only
INTERNAL BUSINESS FORMS
document the accountability of the personnel on the transactions
that occur
INTERNAL BUSINESS FORMS
The forms intend to answer the following questions:
1. What are the particulars requested on the form?
2. Who initiated the transaction?
3. Who determined the correctness of the information on the form?
4. Who gave the final authorization to implement the transaction?
INTERNAL BUSINESS FORMS
is an internal report prepared by the buyer’s personnel in charge of receiving
deliveries.
Receiving report
It is used to document the quality and quantity of items received by the personnel from the suppliers
Receiving report
Most companies process
payments through a _________________
voucher
system.
Payments are made by
__________. A _____________ (CV)
is prepared for each check.
check, check voucher
It documents the process for
the preparation, verification,
and authorization of check
payments.
check voucher
The_____________
includes the CV and the
supporting documents such
as the ___________
check voucher package, supplier’s bill invoice, or
statement of account
are also pre
-numbered
and should be used
sequentially
check voucher package
are used by both the buyer and the seller or inside and outside the
company
EXTERNAL BUSINESS FORMS
Are filled out by both parties
EXTERNAL BUSINESS FORMS
These forms evidenced the occurrence of a stage of the transaction.
EXTERNAL BUSINESS FORMS
Below are some of the business forms for discussions:
1. Purchase order
2. Delivery Receipt
3. Sales Invoice
4. Provisional Receipt
5. Official Receipt
6. Bills and Statement of Account
EXTERNAL BUSINESS FORMS
is a form used by the buyer to communicate his
exact orders to the seller.
Purchase Order
The quality specifications and quantity ordered is
indicated on the form.
Purchase Order
issued by the buyer is approved by the
appropriate office.
A valid PO issued