Regent College/Business Documents

Introduction

Business documents are documents in business that serve different purposes.They include:

1. Purchase order
2. Debit note
3. Credit note
4. Receipt

Objectives

understanding business documents

At the end of the lesson students should be able to explain clearly the importance of the documents listed above.

Purchase order

A purchase order is a document that is prepared by a company or an individual wishing to buy goods.It is sent to the supplier of the goods.A purchase order has these details:

• The address of the supplier
• The quantity and quality of the goods being ordered
• The name of the company/individual making the order
• The date the order was prepared

Debit note

A debit note is prepared by the company suppling goods upon discovering that a customer was undercharged.

Credit note.

This is a document that is prepared by a suppling company to the ordering company.It has these details:

• The address of the company ordering goods
• The name and address of the suppling company
• The quantity of the goods supplied
• The price of the goods supplied
• The date the goods were prepared

Tasks

Students should be able to differentiate a purchase order from a credit note Students should be able to define a debit note clearly

Assignments

In not less than a page explain what you understand by a sales invoice.Your description should not be less than a page

Reading

• Financial Accouting Volome one.Frank Wood

Summary

There are quite a number of business documents.The following are some of them:

• Invoice
• Purchase order
• Credit note
• Debit note
• Receipt