Page 57 - Book-keeping for Secondary Schools Student’s Book Form One
P. 57
Recording of business transactions
or services rendered on credit. There are two types of invoices, namely purchases and
sales invoice. A purchases invoice is used as a source document when preparing a
purchases daybook, while a sales invoice is used as a source document when preparing
a sales daybook. Figure 4.3 shows a sample of an invoice.
FOR ONLINE READING ONLY
Figure 4.3: A sample of an invoice
Activity 4.3
Prepare a sample of invoice and demonstrate how to fill it out.
Credit note
It is a document sent by the seller to the buyer to correct an overcharge on an invoice.
For example, if some of the goods supplied to the buyer are returned to the supplier
for various reasons, for example, supplier delivering wrong or damaged goods, then a
credit note will be issued by the seller. Figure 4.4 shows a sample of credit note used
in returning goods.
49
Book Keeping Form 1 New 2024 FINAL.indd 49 18/10/2024 10:14
