Module 3: Documents and authorisation of documents 3.2.5 Credit notes


Credit notes are issued by a business when a customer returns unwanted goods. The customer will take the original and the business will keep the duplicate. CREDIT NOTE


13 Cricket Street, Cape Town, 7945 Date: 10 February 20.5 To:


Mrs Arend


Address: 17 Gemsbok Road BAY VIEW 7785


Quantity Description 4


Laminate wood flooring – Cherry


Unit Price 60


Total 00


Total exclusive of VAT VAT @ 15%


Total including VAT 3.3 Supporting documents


A source document is the document that serves as the main source of information from which the bookkeeper can enter a transaction.


A supporting document is used to support the source document in order to verify the transaction or accounting entry.


For example, if our business receives a statement from a supplier/creditor , then we must pay it. If we need to pay a statement, then ask : “why did we make the payment?” The statement supports why we made the payment. If we paid by cheque, the cheque counterfoil is the source document.


The cheque counterfoil will indicate who and how much we paid; whereas the statement will indicate how much we are due to pay. So the statement supports why the cheque was written.


3.3.1 Internal documents


Internal documents are completed and issued by the organisation and are numbered beforehand for the purpose of recording transactions with other organisations.


240 00


240 00 36


ALF SERVICES Tel: 021 555 029


Number: CN106 Vat No: 8976532098


00 276 00


25


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