Top 10 Source Documents in Accounting

What are source documents?

Source documents are the first source of information from which the accounting books are prepared. A source document is the document in which data for a transaction is collected. This is the supporting document that is used when recording journal entries for transactions. It is a document that serves as the proof or source of the transaction.

Examples of 10 accounting source documents are mentioned below:

1. Purchased order: purchase orders are sent by the buyer to the vendor first, and they outline exactly what the order should contain and when it should arrive.

2. Sales Invoice: this is made for account receivables. When an item is sold the seller will issue a document providing all the details of the sale.

3. Purchase Invoice: this is made for account payables. What the seller enters as sales invoice, the buyer will enter it into their system as a purchase invoice.

4. Debit note: this is evidence of reduce in purchases. In customer books, debit note reduces how much they owe to the seller. This support purchases return journal

5. Credit note: this is evidence of reduce in sales. In supplier’s books, credit note reduces the amount owed by the customer. This support sales return journal

6. Cheque: A check (cheque) is a special bank note that represents the cash that is being paid by the customer.

7. Revenue receipt: this is used to record the receipt of cash. A receipt is proof that the payment has been made, which is a good idea when paying cash.

8. Cash register receipts: this is a business paper that lists the money coming in from customers.

9. Bank advice: They are debit or credit bank advice. Bank credit advice is bank documents informing the business of an increase made in the business’s bank account. Bank debit advice is opposite of bank credit advice.

10. Deposit slips: When one receives cheque or cash from customer, the seller will write a bank deposit slip together with the cheque or cash which will be taken to the bank and presented.

Dr Friday Ojeaburu ACA

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