Term
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Definition
| is a 10% tax levied by the federal government on most goods and services, excluding fresh food |
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Term
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Definition
| source documents, records, reports, advice |
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Term
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Definition
| Source document for a return of inventory. Can be sales return or a purchase return |
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Definition
| Evidence of a cash sale transaction (source doc) |
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Definition
| Electronic Funds Transfer; exchange of money by sending bank records via a computer network (source doc). Can be cash received or paid |
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Definition
| Evidence of a cash payment (source doc) |
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Definition
| Internal note between the owner and the accountant (source doc) |
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Term
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Definition
| Evidence of a credit purchase (source doc) |
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Term
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Definition
| Evidence of a credit sale (source doc) |
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Term
| Business documents that are not source documents |
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Definition
| Delivery docket, order form, quotes, shipping confirmation |
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Term
| Calculate GST when given GST included price |
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Definition
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Term
| Calculate GST when given GST excluded price |
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Definition
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Term
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Definition
| accounting records that classify and summarise transactions during a particular reporting period |
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Term
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Definition
| record for cash collected (receipts, EFTs, B.S) |
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Definition
| record for cash paid (chq butts, EFTs, B.S) |
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Term
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Definition
| record for credit sales (sale inv) |
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Term
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Definition
| record for credit purchases (purchase inv) |
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Term
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Definition
| the goods/services are supplied immediately, but payment follows at a later date. Uses an invoice |
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Term
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Definition
| state the period of time offered to credit customers, the discount available and when the amount is due. Eg. 4/10, n/30 |
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Term
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Definition
| A credit supplier who the business owes money from a purchase (current liability) |
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