Accounting Documents

Purpose of Issuing Purchase Request Purchase request is document generated by a user department or storeroom-personnel to notify the purchasing department of items it needs to order, their quantity, and the timeframe. It may also contain the authorization to proceed with the purchase. Also called purchase request or requisition. Who issues purchase request Purchase request filled out by store department or

Purpose of Issuing Purchase Order A purchase order (PO) is a commercial document and first official offer issued by a buyer to a seller, A buyer-generated document that authorizes a purchase transaction. When accepted by the seller, it becomes a contract binding on both parties. A purchase order sets forth the descriptions, quantities, prices, discounts, payment terms, date of performance

Purpose of issuing  delivery note: Delivery note is a document accompanying a shipment of goods that lists the description, and quantity of the goods delivered. A copy of the delivery note, signed by the buyer or consignee, is returned to the seller or consignor as a proof of delivery. Who issues delivery note: The delivery note issued by supplier (

What is purpose of issuing official receipt? An official receipt is a written acknowledgment that a specified payment has been received. A receipt records the sale of goods or provision of a service. Who issues official receipt?  The official receipt issued by accounting and finance department, seller, and send to buyer of goods or service. Who receives official receipt? The

What is purpose of issuing invoice?  An invoice is a commercial document issued by a seller to a buyer, relating to a sale transaction and indicating the products, quantities, and agreed prices and discounts (if any) for products or services the seller had provided the buyer. It shows the date of shipment and mode of transport, delivery and payment terms.

Purpose: Quotation is  a formal statement of promise (submitted usually in response to a request for quotation) by potential supplier to supply the goods or services required by a buyer, at specified prices, and within a specified period. A quotation may also contain terms of sale and payment, and warranties. Acceptance of quotation by the buyer constitutes an agreement binding on