Financial documents sales is a key part of the Free Bookkeeping Course 1 and Accounting Trainees and bookkeepers need to thoroughly understand them.
Welcome to Financial documents for sales.
Now we are going to look at the selling part of the accounting system and in particular we shall look in detail at the financial documents for sales.
The textbook lists the seven most important financial documents for sales and they are as follows:
As an Accounting Trainee or Bookkeeper you will need to be able to recognise and distinguish all these financial documents for sales, and know how each one is used and recorded within the accounting system.
Financial documents for sales including VAT and discounts.
Before attempting the quiz below make sure that you have a good understanding of VAT and discounts. This is a very popular topic with Accounting examiners. Remember that VAT is charged on an invoice with settlement discount offered is calculated on the invoice amount after deduction of settlement discount. Many students struggle with this issue and Accounting examiners know this and often include this topic in examinations.
If you haven’t yet purchased the books here is the Amazon link:
QUIZ: FINANCIAL DOCUMENTS SALES
Leaderboard for Introduction to the accounting system1. Sana-36 Points
2. -36 Points
3. -36 Points
4. Ann Smith-36 Points
5. Susan-36 Points