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Source documents are documents generated or produced each time a transaction takes place. It is the proof that a transaction has occurred. They provide information for farm records.

Source documents include:

i. Invoice

ii. Credit note

iii. Receipts

iv. Bank statement

v. Purchase Order

vi. Cheque

vii. Airway bills

viii. Sales order

ix. Deposit slips or remittance slips or tellers

x. Negotiable instruments

xi. Tickets

xii. Delivery notes


The invoice is the complete summary of all transactions. It shows the quantity of goods, price discounts, and terms of payment. It is issued by the seller to the buyer. There are two (2) types of invoices.

a. Sales Invoice: This is a commercial document issued giving the details of the exchange of goods and services, and contains the basic facts about sales transactions. It is raised when risk and ownership of goods is passed from the seller to the buyer.

b. Credit Note: This is a document issued by the seller to the buyer to correct an overcharge. It is done when some goods already been charged, are returned as damaged or not ordered for. There are two types of a credit note, they are: return inwards and return outwards.

c. Receipts: This document acknowledges that payment has been made on goods. It is the evidence of payment issued by the seller to the buyer.


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