XI - Accountancy Ch-Source Documents & Vouchers

(Module 1 of 1)

Source Documents – Cash Memo

It is prepared while selling the goods for cash in two copies. Original copy is handed over to the customer and second copy is retained for business records.

Source Documents – Invoice or Bill

It is prepared by seller when he sellsgoods to buyer on credit. It isprepared in duplicate. The originalcopy is sent to buyer and duplicatecopy is retained by the seller.

Source Documents – Receipt

It is issued to the customer whencash is received from him. It isprepared in duplicate. The originalcopy is issued to the customer andduplicate copy is retained forfuture reference purposes.

Source Documents – Pay-in-Slip

It is used to deposit either cashor cheque of customer forcollection of payment in ourbank account. It is madeavailable from bank and has twoportions, namely pay-in slip andcounterfoil. Pay-in Slip isretained by bank and counterfoilis returned to depositor as anacknowledgement by thecashier.

Source Documents – Cheque

Bank supplies blank chequeforms to the account holdersfor withdrawing cash paymentfrom their accounts or to pay tothird parties. It should be datedand signed by the accountholder.

Source Documents – Debit Note

It is prepared and sent by thebuyer of the goods to the sellerof the goods against return ofdefective goods or goods not asper sample or overvalued by theseller etc. It is prepared induplicate.

Source Documents – Credit Note

It is similar to a debit note with theonly difference that it is prepared bythe seller of goods when he receivesthe sold goods back from the buyerof goods due to any reason what soever.

Specimen – Debit Voucher

Specimen – Credit Voucher

Specimen–Transfer/Non cash Voucher