Explain the usefulness of each of the following document

Rishabh Sewdine

Purchases Invoice

It is a written record of goods that have been sold to a customer and how much the customer was
charged. It is also used to indicate how much money the customer owes to the seller. It is issued by a
supplier to a customer.

Sales Invoice
It creates a record of a sale. It is used to detail the goods a customer bought from a business, the
amount paid for these goods and the deadline to make a payment.

Expense Invoice
An expense invoice is an accounting document used when employees use their own money to pay or
company-related expenses.

Debit Note
It is a document used by a seller to inform the buyer of current debt obligations, or a document created
by a buyer when returning goods received on credit.

Credit Note
When a seller receives goods from the buyer, he prepares and sends a credit note as an intimation to
the buyer showing that the money for the related goods is being returned in the form of a credit note.

Cheque Counterfoil
It is a proof to serve as a receipt or reminder of what a cheque was written out for.

Receipt
For a buyer, receipts are a proof of purchase and a means to return items later on whereas they provide
important accounting information for the seller.

Statement of Account
It is issued by a vendor to a client. It lists out all the financial transactions between the two businesses
every month. Statement may reflect a zero balance, if not, it acts as a reminder to the client that money
is due.