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Investigating the flow of financial documents 1

Investigating the flow of financial documents 1. The sequence of documents. Stage 1 – obtaining the goods Buyer makes out order form listing goods and prices Seller despatches goods with delivery note Buyer signs delivery note as proof of delivery and returns one copy

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Investigating the flow of financial documents 1

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  1. Investigating the flow of financial documents 1

  2. The sequence of documents Stage 1 – obtaining the goods • Buyer makes outorder form listing goods and prices • Seller despatches goods with delivery note • Buyer signs delivery note as proof of delivery and returns one copy • Buyer may make out Goods Received Note listing items received and checked

  3. The order form To: Computer Supplies Supplier No: 123 10 Bexley Way Order No: 456 HIGHTOWN Date: 6 June 2002 HG4 7PT Delivery: 10 June Signed:Jackie EdwardsDesignation:Manager

  4. The order form – key points • Is always on buyer’s headed paper – giving name of firm, address, telephone no, fax, website and VAT registration no (if applicable) • Must be signed to be ‘official’ • Must give accurate details of quantity, description, item code and price • Does not include VAT • Does not include total amount

  5. The delivery note To: Jones and Kelly Date: 10 June 2002 Riverside Walk HIGHTOWN HG2 8PP

  6. The delivery note – key points • Is on seller’s headed paper • Contains no prices • Buyer signs and keeps one copy • Buyer should comment if goods or package is damaged Received in good condition (or comment here): Goods received but not checked Signed:Jackie EdwardsDate:27 June 2002 Please print name here:JACKIE EDWARDS

  7. Goods received note Supplier: Computer Supplies GRN No: 1234/12 10 Bexley Way GRN date: 11.6.02 HIGHTOWN Carrier: Comp Supp Supplier A/c No: 123 Del note date: 10.6.02 Checker:David Evans

  8. Goods received note – key points • Often called a GRN • Is an internal document • Records items received and any discrepancies/faults • Copies always sent to accounts and purchases. Accounts then know whether bill should be paid or not.

  9. Using computers to order goods • Orders are often recorded on computer • Order forms can be produced on computer • GRNs can be produced on computer • Transactions are ‘logged’ under supplier’s account number.

  10. Benefits of using computers • Forms are quicker to produce • Cost of all orders (and total amount of all orders) is easily obtained • Information is available to all relevant staff simultaneously • Details of any transaction are easily obtained • Delays or problems can be quickly identified

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