This is the accounting cycle:
Invoices Receipt Deposit Slip Check Counterfoil Statement Payment confirmation Acts as a proof of transaction; original documents from the transaction.
Lists Goods/services provided, price, terms "Bills" Usually credit
Confirms that goods/services have been received. Usually cash
Form you fill out when depositing money to the bank Includes checks and currency
The part of the check kept by the writer of the check; business checkbooks have them.
A report with:
The amount owed by one business to another Details of transactions between the two Dates, times, due dates & other terms of payment.
Proof of Internet transaction Usually sent by e-mail to the buyer.
That format from the Debits and Credits unit; includes a small explanation
Cross-reference numbersJournal entries refer back to source-document numbers General-ledgers refer back to journal.Makes it easy to follow data through the documents.
Cash receipts journalCash Payment journalSales Journal - Sales on Credit onlySales Returns Journal - returned sales-on-credit (we won't deal with this.)Purchases Journal - Purchases on credit onlyPurchase Returns Journal - we won't deal with this eitherGeneral Journal - Everything Else.
4-1 Source Documents