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Fabm Lesson 4.3
Fabm Lesson 4.3
3. DELIVERY RECEIPT
A delivery receipt is a document issued by the seller to confirm if
merchandise has been delivered to the billing address or the buyer’s place of
business. An authorized signature from the buyer’s end is a proof that
merchandise has been received in good condition by the buyer and that the
information on the document matches the merchandise received.
Because of the lack of information on total amount, the delivery receipt is
not used to record sales or purchases.
Sample Delivery Receipt taken from Annex C of BIR Revenue Memorandum Order
No. 12-2013
4. DEBIT/CREDIT MEMORANDA
The debit memorandum and credit memorandum are documents issued
when there are returns and allowances. A debit memorandum or a debit note is
issued by the buyer to notify the supplier that there is a reduction in the
Accounts Payable maintained by the buyer, therefore, to tally, the supplier has to
also reduced the related Accounts Receivable.
While a credit memorandum or credit note has the same purpose as the debit
memorandum. The only difference is that a credit memorandum is issued by the
seller to notify the buyer that his/her account has been reduced and therefore
the related liability of the buyer is also reduced.
5. CASH/CHECK VOUCHER
A voucher, also known as payment voucher, is an internal document which
indicates authorization for payment. It is usually attached to the supporting
documents that require payment such as an invoice.
The issuance of voucher of vouchers reinforces the concept that before a
liability or expense is to be paid for, approval from appropriate officers is
necessary. This provides control over the business payments to its suppliers and
other parties.
A cash voucher is approval of payment in cash, while a check voucher is
approval of payment in the form of a check. This is the basis for recording cash
payments.
6. OFFICIAL RECEIPT
An official receipt is a document which acknowledges receipt of cash
or check. It is issued by the party who collects the payment.
It provides evidence that payment has been made and that the other
party has collected it. This is the basis for recording cash receipts.
With the use of computer-generated systems, a cash register tape
receipt can also serve as official receipt, as long as it provides complete
information as follows: