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What is the source document for recording a cash sale transaction?
Wiki User
∙ 12y ago
original tax invoice
Wiki User
∙ 12y ago
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What do you mean by Cash Memo?
a cash memo is a document prepared by the seller and given to the buyer during a purchase or sale transaction
A source document for cash payments is a?
my guess is a cash sales slip not sure tho.
What is the source document for the cash payments journal?
Cheque
The source document for all cash payments is a sales invoice?
Yes, it is.
What is the difference between cash-based and accrual-based accounting?
under cash base system of accounting/book keeping transaction is recorded in the books of accounts when actually cash received or paid relevant to the transaction, whereas, in accrual Base system of accounting there is not any compulsion to actually receive or pay cash before recording the transaction in the books of accounts but only evidence of an event is needed to record it!
What is the purpose of source document?
When a business transaction occurs then documents is called source document. Examples of source documents are: 1. cash receipt 2. cancelled check 3. Invoice sent or received 4. Employee Time sheet
Explain the purpose of source document?
When a business transaction occurs then documents is called source document. Examples of source documents are: 1. cash receipt 2. cancelled check 3. Invoice sent or received 4. Employee Time sheet
What is a source document?
A source document is the original document that supports the posting of an accounting entry such as a cash receipt or an invoice.
Is bank statement a source document?
Yes, it is. Here is an extract from a website:"The source document is the original record of a transaction. During an audit, source documents are used as evidence that a particular business transaction occurred. Examples of source documents include:Cash receiptsCredit card receiptsCash register tapesCancelled checksCustomer invoicesSupplier invoicesPurchase ordersTime cardsDeposit slipsNotes for loansPayment stubs for interestAt a minimum, each source document should include the date, the amount, and a description of the transaction. When practical, beyond these minimum requirements source documents should contain the name and address of the other party of the transaction.When a source document does not exist, for example, when a cash receipt is not provided by a vendor or is misplaced, a document should be generated as soon as possible after the transaction, using other documents such as bank statements to support the information on the generated source document.Once a transaction has been journalized, the source document should be filed and made retrievable so that transactions can be verified should the need arise at a later date."
What is an instrument in banking terms?
Instrument is any source document which can be used to carry out a financial transaction. For example, Cash deposit voucher, check deposit voucher, Check are some of the instruments. Instruments includes:What is the transaction to be carryout (i.e Cash deposit voucher is used to deposit cash into an account)Value of the transaction (Amount in Figures etc...)Additional particulars of the transaction (Account Numbers, Names, Reference Numbers, Addresses etc...)Instrument is a vital document for a bank because, all bank transactions are generated by an Instrument.
What do you mean by Cash Memo?
a cash memo is a document prepared by the seller and given to the buyer during a purchase or sale transaction
A source document for cash payments is a?
my guess is a cash sales slip not sure tho.
What is the source document for all cash payment transactions?
A check
What is the source document for the cash payments journal?
Cheque
The source document for all cash payments is a sales invoice?
Yes, it is.
Different types of source documents?
A source document is the original record containing the details to substantiate a transaction entered in an accounting system. Source documents include original invoices sent or received, cash receipts, cancelled checks, credit memo for a customer refund, and employee time sheets.
What is the difference between a cash transaction and a non cash transaction?
processing a transaction includes involves cash or non transaction and concept of different between two?
