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Chp29
Business Documents
| Question | Answer |
|---|---|
| What is an invoice? | It is a bill sent from the seller to the buyer. It shows the quantity, description and price of the goods. |
| What should you do with invoices received? | Compare with order and delivery docket. Check accuracy of prices and calculations. Use the details to write up the purchases book. File the invoice. |
| What is a debit note? | It is sent from the seller to buyer if the seller undercharged or omitted some items. |
| What is a credit note? | It is sent from the seller to buyer if the buyer was overcharged or the buyer returned goods. |
| What reasons would you return goods? | They are faulty. They are not the goods we ordered. They are out of date. |
| What should you do with credit notes received? | Check accuracy of prices and calculations. Use the details to write up the purchases returns book. File the credit note. |
| What is a statement? | It is a reminder to the buyer of how much they owe and when the payment is required. |
| What is a receipt? | A receipt is a written document signed by the seller acknowledging payment received. It should be filed. |
| What is effective purchasing? | Choosing the supplier who offers the best deal in terms of price, quality, delivery and terms of sale. |
| What is meant by terms of trade? | Details of any trade discounts, cash discounts, delivery terms, credit period and methods of payment. |
| What does E&OE mean? | Errors and omissions excepted. |
Created by:
dkeenaghan
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