Question

discuss any three most common source documents?​

Answer 1

Source documents or source vouchers are the original records that are generated on each business transaction. This is the reason why they are also known as supporting documents. Some of the familiar examples of source documents are invoices, bill receipt, cheque, credit note, debit note, bank statements etc.

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Answer 2

ANSWER :

In accounting, a source document is an evidence in support of a business transaction. It is also known as supporting voucher.

Three most common source documents are discussed below :↦

• [1] Cash Memo : Cash memo is a statement which is issued by the seller of goods signifying the sales effected by him when goods are sold in cash. In other words, when cash sales is made in the business, cash memo is issued as a supporting voucher. It is a source document that contains details of the transaction. Cash memos are serially numbered, dated and signed by the authorized person.

• [2] Pay-in-Slip : Pay-in-slip is a source document used in case of banking transactions. It is a form available supplied by the bank which is to be used for deposting cash or cheque for the collection in the account of the account holder. Pay-in-slip is treated as a receipt of cash or cheque deposited to bank. This document contains the details regarding the amount of money deposited, date of deposit. name of branch of the bank, account number etc.

• [3] Invoice or Bill : Invoice or bill is the document issed by the seller to customers when goods are sold on credit. In other words, when credit sales is made in the business, invoice or bill is issued as a supporting voucher of the transaction. It is a source document that contains the details regarding the transaction.