L03 Flashcards
COD - What does this abbreviation stand for?
Cash on delievery
E&OE - What does this abbreiviation stand for?
Errors and Emissions expected
T&C - What does this abbreviation stand for?
Terms and conditions
Terms - what does this mean?
The time length you have to pay for something.
What are the 4 transaction documents?
1)Purchase order
2)Invoice
3)Credit note
4)Statement of account
Define Purchase order
A commerical document issued by a buyer to a supplier indicating the typees, quantites and agreeded prices for products and services
What 3 things will be within a purchase order?
Date
Customer details
Supplier details
What is an invoice document?
An invoice document is a commerical itemized document which records products/services delivered to the customer
Define credit note
A document that indicates a return of funds to the buyer
Define statement of account
A document which reflects transactions between a seller and a buyer during a period of given time
What is a travel expense claim form?
The travel expense claim lets employees claim back on their expenses when they are travelling as a part of their role.
What type of document is the ‘travel expense claim form’
an employee document
What is a ‘petty cash voucher’ document?
funds things for incidental expenses like office supplies
What is a ‘stock requistion form’
a form used by organisations to request and restock items in an organisation
What is a ‘IT requistion form’ document?
A request by the organisation for IT supplies
What is the ‘reprographics requisition form’ document?
an organisation requesting for things to resized/printed
Define what a bank statement is.
A bank statement is a summary of transactions that have taken place within a period of time
Define what a budget variance report is.
A budget variance report is the difference between budgeted income and expenditure and actual income and expenditure.
Define Favourable variances.
Favourable variances is when actual figure is better than the budgeted figure
Define adverse variances.
Adverse variances is when the actual figure is worse than the budget figure.
Define what a delivery note is.
A delivery note is a document listing the items delivered.
Define what a goods received note is.
A good received note is a document listing items received.