B1 Financial documents GapFill

The first document completed by a business for a transaction with a supplier is  a purchase ordera remittance advicea statement of accountcash. Once the supplier receives this, the goods are dispatched along with  a delivery notepaymentan emaila credit note. Payment is due at the end of the month, and   a stampan invoicea credit slipa remittance advice will confirm how much is due in total to that supplier. 

If part or all of an order has to be returned to the supplier as it is incorrect,  a credit cardcasha reply slipa credit note will be issued. Nowadays businesses make payments online either from a company credit card or via their  bankbusinessphonefriends. It is rare for suppliers to accept cheques, as they are expensive to pay into the bank and as online banking services are secure, they prefer this method of payment. 

It is important that documents are completed accurately, so that any queries can be  issuedrefusedtracedanswered back through the paper trail. Issues may include the wrong  reference numberpageemployeeexplanation for a part being quoted, so that what is delivered is not what was  refusedusedshownexpected. Another issue might be the wrong  powerpricepieceplacement being used to calculate the total amount due, or failure to apply a discount. 

Both business accountants and the  ownersgovernmentmanagersemployees require financial documents to be completed accurately and retained for a number of years. This is to ensure the correct figures are given when calculating profit and tax.