ACC: Source Documents

What is the 2nd step in the Accounting Cycle?

Recording all transactions on source documents.

What is a Source Document?

A document that records the details of a transaction and serves as proof that the transaction occurred.

Why are source documents important?

They:

• Provide proof of transactions

• Help record transactions accurately

• Are used to enter transactions into journals

Name the source documents studied in Grade 8

Back:

• Receipts

• Cash Register Slips

• Cash Register Rolls

• Bank Deposit Slips

• Cash Invoices

• Payment Authorisation Forms (EFT)

• Bank Statements

When is a receipt issued?

When money is received by the business.

What is the purpose of a receipt?

To provide proof that money was received.

What happens to the original and duplicate receipt?

• Original: given to the person who paid

• Duplicate: stays in the receipt book and is used for accounting records

What information appears on a receipt?

• Name of the business

• Receipt number

• Date

• Name of person paying

• Amount (words and figures)

• Reason for payment

• Signature

Give examples of transactions where a receipt is issued

• Service fees received

• Capital received

• Rent income

• Commission income

What is a cash register slip?

A document issued by a cash register when a client pays for services.

What is the purpose of a cash register slip?

It acts as proof that the client paid.

What information appears on a cash register slip?

• Amount of transaction

• Cash received

• Change given

• Slip number

• Date and time

What is a cash register roll?

A printed summary of all cash register slips for a day or week.

What is the purpose of a cash register roll?

To show the total sales or service fees received for the day.

What does a cash register roll show?

• Total sales for each cash register

• Total money received for the day

When is a bank deposit slip used?

When money is deposited into the business bank account.

Why is a bank deposit slip completed in duplicate?

• Original: kept by the business as proof

• Duplicate: used by the bank for their records

What information appears on a bank deposit slip?

• Date

• Account holder name

• Person depositing money

• Notes total

• Coins total

• Money orders

• Total deposit

• Account number

• Deposit reference

Which document proves money was received by the business?

Receipt

Which document shows daily sales from a cash register?

Cash Register Roll

Which document is used when depositing money into the bank?

Bank Deposit Slip

Which document is given to a client who pays using a cash register?

Cash Register Slip