Assignment #2 BRING ME
Accounting Source Documents
-are physical basis where business transactions are recorded and serves as evidence when auditor
reviews the financial statements of the business. These usually contains description of business
transactions, date of transaction, amount and signature.
Official Receipt
Definition: is a document supporting sale of service. Issued upon collection of service.
Who issues: cashier or any person holding company’s cash or collection.
Importance: Section 237 of National Revenue Code 1997 to issue receipts or invoices for sale or services
at 25 pesos or more. Official receipts reduce taxable income.
Where to keep: placed and safeguarded by cashier or accountant, who use it as evidence and basis of
recording. Advisable to keep it for at least 10 years. Unused OR surrender to BIR especially at closure of
business.
Given to: customers
Content: company name, date, amount, goods/services, cashiers name and signature, customers
name(?)
Sales Invoice
Definition: is an accounting document that records a business transaction. Sales invoices provide the
business with a record of the services they’ve provided to a client, when the services were rendered and
how much money the client owes the business.
Who issues: the business (cashier?)
Importance: it would tell the amount owed by the customer
Given to: customers
Content:description of the service/goods, discount, how many items, the amount owed and the
deadline for payment.
DIFFERENCE BETWEEN RECEIPT and INVOICE: Invoice records the sale of goods while receipt records the
payment of sale of goods or services
Delivery Receipt
Definition: is a formal document that acts as evidence that the items mentioned on the receipts have
been delivered to its destination successfully. The businesses transporting their products over a long
distance use the delivery report in order to make sure that the goods have been received by the
customer who has actually paid the bill. The shipping company will require the delivery receipt to report
the seller about the status of the goods.
Who issues:warehouse assistant
Importance: This helps companies identify potential issues before they become major liabilities. A POD
is a fast-growing trend that more companies are implementing into their delivery workflows to make
the processes hassle-free.
Given to: signed by customers; but returned to seller
Content:products, address, company, customers name, amount
Purchase Order
Definition: A purchase order is a source document issued by the buyer to the seller. Initially, it requests
a product or a service, but it is a binding agreement once the seller accepts the purchase order.
Sometimes the purchase order comes after a previous process of negotiation. During that stage, both
parties, the buyer and the seller, agree on the terms and conditions. A purchase order contains the
description of the items, the quantities to purchase, the price, the delivery dates, and the payment
terms.
Who issues:Purchasing Department (purchaser/buyer)
Importance: This is used to initiate to supplier if a business want to purchase something
Given to: Supplier; Inventory Control, A/P and Receiving

Content:buyer and seller, products, payment terms/ Order number, Supplier information, Material
code, Quantity of items, Negotiated pricing, Payment terms, Delivery schedule, Item specifications, Time
frame and/or total amount
Job Order Receipt
Definition: It refers to the order issued according to the order received from customers. A job order is
usually issued upon confirming the written order form and sending back its confirmation form.
Who issues:
Importance:
Given to:
Content:
Sales Order
Definition: is a document generated by the seller upon receiving a purchase order from a buyer
specifying the details about the product or service along with price, quantity, buyer detail s like the
shipping address, billing address, mode of payment and terms and conditions.
Who issues:
Importance:
Given to: buyer
Content:
DIFFERENCE BETWEEN SALES ORDER and PURCHASE ORDER: PO made by buyer then SO made by seller
extracted from PO.
Petty Cash Voucher
Definition: is usually a small form that is used to document a disbursement (payment) from a petty cash
fund. Petty cash vouchers are also referred to as petty cash receipts and can be purchased from office
supply stores. Record small expenses.
Who issues:
Importance:
Given to:
Content:
Cash Voucher
Definition: is a standard form used to document a petty cash payment. When someone wants to
withdraw cash from the petty cash fund, that person fills out the cash voucher to indicate the
reason for the withdrawal, and receives cash from the petty cash custodian in exchange.
Who issues:
Importance:
Given to:
Content:
Given to:
Check Voucher
Definition: A check voucher is a document recording and filing system used in accounting to record,
monitor and organise check issuances of the business.
Who issues:
Importance:
Given to:
Content:
Check
Definition: is a written, dated, and signed instrument that directs a bank to pay a specific sum of money
to the bearer. The person or entity writing the check is known as the payor or drawer, while the person
to whom the check is written is the payee. The drawee, on the other hand, is the bank on which the
check is drawn.
Who issues:
Importance:
Given to:
Content:
Accounting Records
Accounting records are all of the documentation and books involved in the preparation of financial
statements or records relevant to audits and financial reviews. Accounting records include records of
assets and liabilities, monetary transactions, ledgers, journals, and any supporting documents such as
checks and invoices.
Sales Journal
Definition: is a special journal that is used to record all credit sales. Every transaction that is entered in
sales journal essentially results in a debit to accounts receivable account and a credit to sales account.
All cash sales are recorded in another special journal known as cash receipts journal.
Who issues:
Importance:
Given to:
Content:
General Journal
Definition: refers to a book of original entries, in which accountants and bookkeepers record raw
business transactions, in order according to the date events occur.
Who issues:bookkeeper
Importance:
Given to:
Content:
General Ledger
Definition: represents the record-keeping system for a company's financial data with debit and credit
account records validated by a trial balance. The general ledger provides a record of each financial
transaction that takes place during the life of an operating company.Segregated into accounts like cash,
equipment…
Who issues: bookkeeper/accountant
Importance:
Given to:
Content:
Types of Subsidiary Ledger
is an addition of general ledger used for recording each accounts receivables and accounts payable in
detail separately.
Accounts Payable Ledger
Definition: is due where data relating to individual creditors are kept.
Who issues:
Importance:
Given to:
Content:
Accounts Receivable Ledger
Definition: where data relating to individual buyers are kept.
Who issues:
Importance:
Given to:
Content:
Fixed Asset Ledger
Definition:
Who issues:
Importance:
Given to:
Content:
Inventory Ledger
Definition:
Who issues:
Importance:
Given to:
Content:
Purchases Ledger
Definition:
Who issues:
Importance:
Given to:
Content:
Purchase Journal
Definition: is due where data relating to individual creditors are kept.
Who issues:
Importance:
Given to:
Content:
Aging of Accounts Receivable Schedule
Definition: is a report that lists unpaid customer invoices and unused credit memos by date ranges. The
aging report is the primary tool used by collections personnel to determine which invoices are overdue
for payment.
Who issues:
Importance:
Given to:
Content:
Stock Card
Definition: In FIFO accounting, one option of keeping track of inventory is the stock card. It is a sheet
that tracks purchases, sales, returns, and other drawings. It tracks the unit price and inventory counts
Who issues:
Importance:
Given to:
Content:
PPE Depreciation Schedule
Definition: is required in financial modeling to forecast the value of a company’s fixed assets (balance
sheet), depreciation expense (income statement), and capital expenditures (cash flow statement).
Who issues:
Importance:
Given to:
Content:
Supplier List
Definition: means collectively, all customer and prospective customer lists and supplier/vendor lists of
the Subject Business.
Who issues:
Importance:
Given to:
Content:
Customer List
Definition: means collectively, all customer and prospective customer lists and supplier/vendor lists of
the Subject Business.
Who issues:
Importance:
Given to:
Content:
Check Booklet
Definition: is a folder or small book containing preprinted paper instruments issued to checking account
holders and used to pay for goods or services. A checkbook contains sequentially numbered checks that
account holders can use as a bill of exchange.
Who issues:
Importance:
Given to:
Content: