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Introduction - Accounting Source Documents

You will have heard the term "double entry bookkeeping". This is an old established system of bookkeeping which forms the basis of all accounting systems. Today, of course, companies of all sizes usually use computerised accounting systems. Nevertheless, it is useful to learn a little about the double entry system as this will help you understand how a trial balance is drawn up.

Every "transaction" is supported by a business document. What do you understand by the term "transaction", and which documents are we talking about?

We have listed some of the most common transactions below. Most transactions are related to the sale or purchase of goods, services, capital items and consumables.

If you are a seller and make a sale:
Small slice of pizzaYou produce an invoice.
Small slice of pizzaYou send the top copy of the invoice to the buyer.
Source:
http://www.bized.co.uk
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