Distinguish between source and voucher papers

Q: Which one of the following documents is not needed to process a payment to a vendor?A. vendor…

A: Purchases of material and inventory is very important for the business. Payment for purchases can be…

Q: Which files do you usually find in a sales order module versus an account receivable (customer…

A: The sales order module contains an open sales order which is an internal document issued by seller…

Q: How are journal vouchers used as a control mechanism?

A: Journal Voucher: Journal voucher are used in providing the inputs for the general ledger. The…

Q: Which of the following forms cannot be customized? Select one: A. Estimate B. Sales Receipt C.…

A: Under QBO there is a feature to customize your forms.

Q: Give an example of consumer credit and explain the process how it is processed from application to…

A: The customer is allowed to ask for credit in case of no availability of funds. The suppliers provide…

Q: Distinguish between an accounts payable file and a vouchers payable file.

A: Accounts Payable system:   The accounts payable system looks over the due payments to be processed…

Q: Purchase invoice is an example of a. Source document b. Individual document c. Voucher document d.…

A: Source documents are the physical record that business transactions are recorded.

Q: the customer of the details by issuing a sales invoice a. b. purchase invoice credit memorandum С.…

A: Note: Since you have asked multiple questions, we will solve the first question for you. If you want…

Q: journal

A: Purchase journal is a systematic book where Purchase related transactions are recorded. It is also…

Q: In a manual accounting system, what advantage does the journal voucher system have over the…

A: Journal  Voucher Journal voucher is a special source of document which has been replaced for general…

Q: what information do you need to capture from a customer in order to accurately and completely fill…

A: Information captured from a customer to complete an order the accurate and complete filled order…

Q: What is meant by Authorized and issued captial?

A: Meaning of Authorised capital  stock:Authorised stock refers to the maxinum number of preferred…

Q: How to post from general ledger

A: Posting is made to the general ledger and not from general ledger and the question has been answered…

Q: A voucher is usually supported by Oa. a purchase order Ob. a receiving report Oc. a supplier's…

A: A voucher is usually supported by a purchase order, receiving report, and supplier's invoice.

Q: What information is contained in a journal voucher?

A: Definition: Journal Voucher is a document based on which transactions are recorded. It serves as…

Q: Distinguish between a general journal and journal vouchers.

A: General Journal: A general journal refers to a book of original entry in which accountants and…

Q: 4. What is a voucher? What information are contained in a voucher?

A: “Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: What are the feature of Receipt and Payment Account?

A: Receipt and Payment Account is a summary of cash Receipts and payments in an accounting period. Not…

Q: In Tally, Vouchers serve as a medium to record an entry of any transaction or event and it’s posting…

A: Voucher A voucher is a document that contains details of a monetary dealings and is needed for…

Q: Explain the purpose of having mail room procedures.

A:

Q: What is an order book?

A: Introduction: Order books are utilized by almost every exchange for numerous assets like stocks,…

Q: How do i adjust entries for a merchanting buisness

A: Adjusting entries are the journal entries passed at the end of the financial year to close all the…

Q: When are adjusting entries made to the worksheet, and what is their purpose? When are the…

A:

Q: Which onscreen form is usually used to record a sales transaction that the customer will pay later?…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Differentiate between letters, memo and report?

A: Accounting is primarily concerned with identifying, recording, measuring, summarizing transactions…

Q: What is the purpose of the blind copy of a purchase order?

A: Definition: Blind copy: The copy of purchase order (PO) which contains no information about the…

Q: What is a voucher system

A: Accounting transactions are a set of activities that take place as a result of the day to day…

Q: Define Gift card.

A: Cash sales These refer to sales made by companies in the form of liquid currency as cash. These are…

Q: What is receipt and payment account

A: The answer is provided as follows:

Q: How do you journalize entries on FOB shipping and FOB destination?

A: FOB shipping point: Under FOB shipping point the possession of goods are with the seller until the…

Q: Post to general ledger

A: General ledger is the ledger book in which all the respective accounts of parties as well as the…

Q: Give one advantage of using a vouchers payable system.

A: Voucher: It is a written document or statement that confirms the happening of certain transactions…

Q: What is a sub-ledger

A: Sub - ledger means as follows