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Source Documents

Source documents or source vouchers are the original records that are generated on each business transaction. Further, the source document works as proof as it consists of detail of every transaction. In simple words, Source documents are the physical or electronic form of document that comprises of transaction details used by the accounts department to journalize accounting insight. 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.

Examples of Source Documents

Sales Order (SO)

Sales Order (SO) is a source document that is generated by the seller and issued to the customer. A sales order is a document indicating sales of a certain item for the listed price. It is a legally binding contract according to which the seller is bound to sell its item on the agreed price.

Purchase Order (PO)

Purchase order (PO) is a type of source document generated by a buyer of goods &/or services that are issued to the seller containing types, agreed prices and quantities. In other words, it is an offer letter that is given to the seller. Generally, purchase orders are of four types namely,

  • Standard Purchase Order
  • Contract Purchase Order
  • Blanket Purchase Order
  • Planned Purchase Order

Cash Memo

Cash memo is a source document that is generated by the seller at the time when there is a cash sale of a good or/and service. A cash memo states every detail of the transaction such as type, quantity, date, and price of the goods or/and services sold.

Invoice or Bill

Invoice or Bill is a type of source document that is produced by the seller to record the transaction between the buyer and seller. Invoice or bill is generally generated to record purchase and sale that contains all the details like name of the buyer, price, date, quantity etc. Further, every Invoice or bill contains a serial number which can be used as evidence.

Debit Note

A debit note is a source document that is generated and issued by a buyer to a seller at the time of returning the goods purchased on credit. A debit note indicates that a debit has been made to the buyer’s account against the good returned.

Credit Note

A credit note is a type of source document generated and issued by a seller to the buyer at the time of returning the goods. Credit note reflects that a credit has been made in the seller’s account against the goods returned by the buyer.

Pay-in-Slip

Pay-in-Slip is a source document that is used while depositing the cash or cheques into a bank. This is the reason why pay-in-slip is also known as deposit slip. This pay-in-slip contains details depositors account number, branch name of the bank, cheque number, date and the deposit amount.

Cheque

A cheque is a source document that acts as an order to the bank to pay a particular amount of money to which the cheque is issued (bearer). Cheques are a safe and secure way to transfer the payment from one account to another.

Petty Cash Voucher

Petty cash voucher is another source document that states are used to record the payment made from the petty cash fund. Petty cash voucher must include date, the name of the recipient, charges of general ledger account, amount disbursed and initials of the person disbursing such amount. Some petty cash expenses examples are postage and handling, stamps, stationery, freights etc.