Documents used in business transactions

Types of Documents used in business transactions

Do you want to do some business transactions and you are worried which documents to use? The following documents can help in doing your business transactions.

 

Types of documents used in business/financial transactions

1. The invoice– used when demanding or requesting for payment
2. Statement of account– sent to buyers of goods telling them the type of products they purchased
3. Receipts of monies-written for the purposes of acknowledging payment
4. Balance sheet– contains the assets and liabilities
5. profit and loss account– shows the income and expenditure of a business
6. Delivery note-it is like an invoice but is send when goods are being delivered to the customer. It contains names of the buyer and supplier, date, quantity of product, price and terms
7. Credit Note-shows the amount of money that is supposed to be returned to the customer for damaged goods
8. A Debit note– it is sent to the buyer to correct the undercharges
9. Statement of account-it is used to show the customer the amount of money that he is due to pay. It is send by the seller.
10. Cheque-shows the amount of money that a bank is supposed to be paid.
11. Receipts for cash payments-it is a document sent to confirm that money or cash has been received
12. Credit or debit card receipt-are used in place of a cheque or cash.
13. Pay-in slip-show the amount of money that has been deposited in the bank or has been paid

Do you know of any business transaction document or tool that we have not listed? let us know in the comment section below.