PROJECT ON SOURCE DOCUMENT

Name of Students: Candace Brown, Ashanta

Johnson, Makayla Smith, Shaneka Dennis and
Daville Harris
Name of teacher: Miss N. Biggs
Class: 10 bus1
Date: March 13, 2024
Subject: Principles of Accounts
Topic: Source Document
 TABLE OF CONTENT

Introduction……………………….3
Source Document………………..4
Cash Receipt……………………..5
Petty Cash Voucher…………….6-7
Debit note………………………..7
Credit note………………………8-9
Cheque…………………………..9
Invoice……………………………10
 INTRODUCTION
Good morning 10 business 1, teachers and
fellow classmates Today my group members
and I will be presenting our principles of
accounts project based on what is a source
document, the types of source document and
what they are used for.

FIRSTLY…
What is a source document?
A source document is a primary record or piece of evidence
that proves that a transaction has occurred. It can be a
physical document, such as a receipt, invoice, or a digital
document. A source document contains pertinent information
about the transaction, such as dates, the dollar amounts, the
involved parties, and the purpose of the transaction. This
document proves not only that the transaction occurred but
also the details of the transaction.
Shawn Custer , Rebekiah Hills, November 21, 2023

Types of Source document

1. Cash Receipts
2. Petty Cash Vouchers
3. Debit Notes
4. Credit Notes
5. Cheques
6. Invoices
 What are Cash Receipts?
Cash receipts are types of source document that provide
evidence of cash inflows into a business. It is a collection of
money from your customers. These increase the cash balance
recognized on a company’s balance sheet. Cash receipts can
be generated when customers make payments for products or
services or when the business receives cash from other
sources like loans or investments. These documents are
important for tracking and recording financial transactions.
The use of cash receipts:
 Cash receipts are used to create an official record of a cash
base transaction. They may also be used when payments
are made by cheque or store credit. Cash receipts are
mostly shown when a transaction uses actual cash.
 Providing proof of payment: Cash receipts serve as proof
of payment for customers, which can be important for
returns, exchanges, or warranty claim.
By Eric Rosenberg on Jan 27, 2022
 What are Petty Cash Vouchers?
A petty cash voucher is a document that shows records of the
expenses of an organization. Petty cash funds are amounts of
incidental expenses used in an organization such as office
supplies and employee reimbursement. It helps keep track of
document expenses paid from the petty cash fund.
Team happy pay, April 6, 2023

The use of Petty cash voucher:

 The use of petty cash vouchers is to provide business units
with sufficient cash to cover minor expenditures. This is
the intent to simplify the reimbursement of staff members
and visitors for small expenses that generally do not
exceed such as TAXI fares, postage office supplies etc.
 Cash Advances: In some cases, employees may need to
access a small amount of cash for business-related
expenses. A petty cash voucher can be used to withdraw
cash from the petty cash fund, with the employee
providing details of the purpose.
Harvard education, November 14,
2023
 What is a Debit Note?
A debit notes otherwise known as a memo is an issued
document a seller uses to remind the purchaser of current debt
obligations, or a document produced by a purchaser when
returning incorrect information about an immediate payment
or may serve as a reminder of current funds due.

The use of a debit note:

In accounting a debit note can be used to notify a buyer of
their current debt obligations.
Sujaini, February 01,2024
 What is a Credit Note?
A credit note is a legal document issued by the seller of goods
and services to the buyer against a previously recorded
invoice. It shows the amount of money owed by the seller to
the buyer. A credit note is issued when a seller locates a
discrepancy in an existing invoice, for instant , by charging an
incorrect amount or when a buyer returns the goods. It
represents the amount that was paid in excess by the buyer
and is due to be returned to them by the seller.

The use of credit note:

Goods Returned: Buyer may demand a refund on finding a
manufacturing defect or fault with the product delivered.
Goods may also be returned if the wrong items were
delivered or if the delivered goods no longer meet their
purpose. In such cases sellers issue credit notes as proof of
return of goods and money owed.
Arjun Ruparelia, March 31, 2023
 What is a cheque?
A cheque is a document you can issue to your bank, directing
it to pay the specified sum mentioned in digits as well as
words to the person whose name is borne on the cheque.
Cheques are also called negotiable instruments. In banking
terms ,a negotiable instrument is a document that promises its
bearer a payment of the specified amount either on furnishing
the document to the banker or by given date.
Jan 31, 2023, HDFC bank

The use of a Cheque:

A cheque can be used to make payments, give as a gift, or
transfer money between two entities. They are a secure way
to transfer money, since the payee is the only one who can
instruct the bank to transfer the funds to their account. If a
cheque is lost or stolen, no one else is able to cash the
cheque.
Central bank, February 19, 2023
 What is an Invoice?
An invoice is an itemized commercial document that
records the products or services delivered to the customer,
the total amount due, and the preferred payment method.
The seller can send either paper or electronic invoices to
the customer. The invoices can be paid in one go or in
installments, depending on the payment terms that were
agreed upon. Depending on the purpose there are different
types of invoices that businesses can create for their
customers.
Keerthana Nithya Kumar, November 21, 2023

The use of an invoice:

An invoice is a document used to notify a customer that
payment is due. It also serves as a record for the issuing
business so that it can track its receivables. In the past,
invoices were only issued on paper due to the limitations of
technology.
By Adam Hayes, September 27, 2023
END OF PRESENTATION