The Accounting Cycle

A ___________ are documents where original information is found, for example, sales and purchases invoices and credit notes.

• Source Documents

• Reciept

• Journal

• Ledger

A/An _____________________ is a document prepared by the seller when they sell goods or provide serviced on credit.

• Credit Note

• Debit Note

• Invoice

• Receipt

This document is raised by the supplier when goods have been returned by the purchaser due to thier being damaged, faulty or supplied to the wrong sprecification, or when an overcharge has been made in an invoice.

• Debit Note

• Credit Note

• Invoice

• Receipt

If the supplier agrees, goods bought previously may be returned. When this happens a ______________ is raised by the purchaser and sent to the supplier giving details of the goods returned and the reason for thier return.

• Invoice

• Receipt

• Debit Note

• Credit Note

This document acknowledges the receipt of money from a customer and is often issued when a customer purchases goods for cash rather than on credit.

• Invoice

• Credit Note

• Debit Note

• Reciept

This is used to record items that are much less common and sometimes complicated and are not recorded in any other book of original entry.

• Sales Journal

• Journal

• Purchases Journal

• Purchases Returns Journal

A book used for listing sales invoices.

• Sales Day Book

• Purchases Day Book

• Return Outwards Book

• Return Inwards Book

This is similar to the sales day book, but contains lists of purchases invoices received from suppliers of goods and services.

• Sales Day Book

• Purchases Day Book

• Returns Outwards Book

• Returns Inwards Book

This is used to records goods returned to suppliers.

• Sales Day Book

• Purchases Day Book

• Returns Ourwards Book

• Returns Inwards Book

This is used to list any returns made by customer.

• Purchases Book

• Sales Book

• Returns Inwards Book

• Returns Outwards Book