What do you think is the difference between a sales order form and a purchase order form?
A purchase invoice for a business that buys goods from a supplier is the sales invoice from the supplier. A business receives purchase invoices from its suppliers, and it keeps a copy of sales invoices that it sends to customers. If you were shown a batch of sales invoices for your business and a batch of purchase invoices, how might they look different?
Explain the purpose of the following sales documents, and list them in the order in which they are produced: sales invoice, delivery note, remittance advice, sales order. Also, explain the purpose of the following purchase documents, and list them in the order in which they are produced: goods received note, purchase order, purchase invoice.
Question 1: Which document is used to correct an overcharge in an original invoice?
A) Credit note
B) Debit note
C) Dispatch note
D) Goods received note
Question 2: Which document provides a summary of the credit transactions between a customer and supplier during the previous month?
A) Advice note
B) Internal cheque requisition
C) Invoice
D) Statement of account
Suppose that, for filing purposes, a business staples together: the customer's order, the delivery note and a copy of the sales invoice for all sales transactions; a copy of the purchase order, delivery note, goods received note and purchase invoice for all purchase transactions. In what order do you think these documents should be filed, for ease of future reference?
You are employed in an accounts office and receive a telephone call from a person who says that they are the bank manager of North Bank in the local High Street. The bank has been approached by a customer of your employer, for a loan to pay off the debt they still owe your employer. The bank manager would like to know how much the customer owes, and would also like to check the marital or relationship status of your customer. What should you do in this situation?