Source documents

Question 1

Define source document

Answer 1

Providing evidence/proof that a transaction occured

Question 2

Where will the sellers name appear

Answer 2

At the top

Question 3

Define a tax invoice

Answer 3

Any document between 2 parties that provides evidence of a transaction including GST

Question 4

Define an Invoice

Answer 4

Any credit transaction that has been made (different to tax invoice)

Question 5

Define a Receipt

Answer 5

Any document used to verify cash received or paid

Question 6

Define a bank statement

Answer 6

Report from bank listing all cash deposits/withdrawals from a particular account

Question 7

Define a cheque butt

Answer 7

Verify cash payment made by cheque

Question 8

Define a statement of account

Answer 8

Summary of transactions with a particular Account Payable/Receivable over a period

Question 9

Define a memo

Answer 9

Internal source document, not any sale/purchase

Question 10

Define a credit note

Answer 10

Return of inventory (either from customer or to supplier)