19515984
Description
Flashcards by Kieron OKelly, updated more than 1 year ago
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Created by Kieron OKelly
almost 5 years ago
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| Question | Answer |
| What is the purpose of a PURCHASE ORDER? | A PURCHASE ORDER is a list of goods you wish to purchase from a supplier. |
| What is the purpose of a DELIVERY NOTE? | A DELIVERY NOTE shows you all the products received in a delivery. You use it to check off what was received. |
| What is the purpose of a GOODS RECIEVED NOTE? | A GOODS RECIEVED NOTE is a note that is sent to the supplier to confirm that the goods have arrived. You find that information from your checked-off delivery note. |
| What is the purpose of an INVOICE? | An invoice is a request for payment for goods that have been delivered. |
| What is the purpose of a RECEIPT? | A receipt acts as proof that you have paid for specific goods. (Proof of Payment) |
| What is the purpose of a CREDIT NOTE? | A credit note is issued to a customer if they return goods. It could either include a payment OR a promise of credit that can be used to purchase another product. |
| What is the purpose of a STATEMENT OF ACCOUNT? | A statement of account shows recent transactions between a supplier and the customer. It is used where a customer regularly orders from a supplier. |
| What information would I find on a PURCHASE ORDER? | List and Quantity of Goods Product Codes Prices per Unit Total Price Customer Address and Information |
| What information would you find on a DELIVERY NOTE? | List of products IN THE DELIVERY (which may only be part of the original order). Prices are NOT included. |
| What information would you find on an INVOICE? | Product Code Product Name Price Discount VAT Amount Owed Due Date of Payment Methods of Payment. |
| What information would you find on a RECEIPT? | List of Items Bought Cost of Items Date of Payment. |
| What information would you find on a credit note? | List of Goods Returned Refund OR Credit Given back |
| What information would you find in a STATEMENT OF ACCOUNT? | A summary of recent transactions (by week/month usually) Any outstanding invoices. |
| Why is it important that Business Documents are accurate and filed safely? | If your documents are NOT accurate: The wrong goods could be sent. The wrong money requested. These things would cause delays in the supply chain and cashflow problems. |
| How long is it normal to expect payment for your INVOICE ? | 30 days. |
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