Documents

Documents by Charmaine Chin

Documents: Accounting documents record individual business transactions. Documents are usually retained to verify transactions. This means that the information later recorded can be traced to these original transactions, thus meaning the information in the accounting reports can be called reliable. Stakeholders want this information to be reliable so that they can make better decisions! Documents usually contain the number and description of the business transaction, date, amount and source.

Examples of documents are bank statements (which are recorded into the Cash Payments Journal), receipts(CRJ), cheques(CPJ), internet transfers(CRJ/CPJ), credit purchases invoices(PJ), credit sales invoices(SJ) and memos(GJ).