Question

Write 5 examples about source documents for financing cycle and their function

Answer 1

5 examples about source documents for financing cycle and their function are below:

• Bank statement. This contains a number of adjustments to a company's book balance of cash on hand that the company should reference to bring its records into alignment with those of the bank.

• Cash register tape. This can be used as evidence of cash sales, which supports the recordation of a sale transaction.

• Credit card receipt. This can be used as evidence for a disbursement of funds from petty cash.

• Packing slip. This describes the items shipped to a customer, and so supports the recordation of a sale transaction.

• Supplier invoice. This is a source document that supports the issuance of a cash, check, or electronic payment to a supplier. A supplier invoice also supports the recordation of an expense, inventory item, or fixed asset.