Statement Of Accounts Flashcards
when does a supplier issue a statement of accounts?
often at the end of month
why does a supplier issue a statement of accounts at the end of the month?
to show what you owe them and the transactions for the period
what does a statement of accounts list?
invoices, credit notes, discounts, and any payments made
what is a remittance?
a remittance gets sent alongside a payment to show what is being paid
what gets sent alongside payment to show what is being paid for?
a remittance advice
when is a petty cash receipt provided?
when a business purchases small items, a petty cash receipt will be provided by the seller
when will a business reimburse smalls items?
when they are purchased by employees
what is petty cash vouchers?
an internal document detailing the business expenses
what will the petty cash voucher get stapled to?
the earlier receipt and then entered in the petty cash box
