Sources of Data in Financial Accounting are as follows:
1 Price List
Price list provides the price of goods or services at which goods or service would be sold.
Seller provides buyer with a customer specific price list to offer goods or services to buyer.
3 Purchase Order
Purchase order is the document used to place order for goods or services by the buyer.
1 Sales Order
Purchase order when received by seller, it is regarded as sales order by seller. It is used to take decision on accepting or rejecting customer order depending on availability of goods or services, credit standing etc.
2 Goods Received Note (GRN)
Goods received notes is document prepared by the buyer. Goods received notes takes account quantity, specification of goods.
3 Goods Despatch Note (GDN)
Goods despatch notes is document prepared by the seller. It is prepared to receive acknowledgement that goods have been received by the buyer.
4 Sales Invoice
Sales invoice is the demand for payment by the seller. It states quantity, specification, price etc.
5 Purchase Invoice
Sales invoice when received by buyer, it is regarded as purchase invoice.
6 Debit Note
Debit note is request for acceptance for goods returned by the buyer.
7 Credit Note
Credit note is communication of acceptance for good returned by the seller.
8 Remittance Advice
Remittance advice is the list of balance outstanding until issue date.
Receipt is acknowledgement of cash received from buyer.