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QUESTION: What Are The Purpose Of The Following Source Document. 1. Teller, 2.Invoice, 3.Receipt, 4.Voucher, 5.Cheque Store, 6. Draft, 7. Debit Note [Solved]

Nigeria Student Forum / Questions / Marketing Department / What Are The Purpose Of The Following Source Document. 1. Teller, 2.Invoice, 3.Receipt, 4.Voucher, 5.Cheque Store, 6. Draft, 7. Debit Note

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Adelani Temiloluwa
School Of Nursing Ondo
Nursing Student
300Level, Nigeria.
1.Bank tellers are responsible for handling customer financial transactions like deposits, withdrawals, transfers, money orders, and checking. ... Sometimes, they are asked to promote the bank's services, like a special savings account or an additional checking account to customers.

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Adelani Temiloluwa
School Of Nursing Ondo
Nursing Student
300Level, Nigeria.
2. The most basic purpose for a sales invoice is to keep a record of the sale. It provides a way to track the date a good was sold, how much money was paid and any outstanding debt. The invoice is an invaluable tool for accounting. It can also track which employees make sales and the items they sell.

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Adelani Temiloluwa
School Of Nursing Ondo
Nursing Student
300Level, Nigeria.
3. The primary purposes of a receipt include providing information to customers or donors, documenting purchases and assisting with internal accounting. Both for-profit and nonprofit organizations have reasons to give receipts to patrons.

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Adelani Temiloluwa
School Of Nursing Ondo
Nursing Student
300Level, Nigeria.
4. A voucher is often a prenumbered form used in the accounts payable department to standardize and enhance a company's internal control over payments to its vendors and service providers. A voucher is usually prepared after a vendor's invoice has been matched with the company's purchase order and receiving report.

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Adelani Temiloluwa
School Of Nursing Ondo
Nursing Student
300Level, Nigeria.
5. The drawer writes the various details including the monetary amount, date, and a payee on the cheque, and signs it, ordering their bank, known as the drawee, to pay that person or company the amount of money stated.

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Adelani Temiloluwa
School Of Nursing Ondo
Nursing Student
300Level, Nigeria.
6. Drafting is the preliminary stage of a written work in which the author begins to develop a more cohesive product. A draft document is the product the writer creates in the initial stages of the writing process. In the drafting stage, the author: develops a more cohesive text.

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Adelani Temiloluwa
School Of Nursing Ondo
Nursing Student
300Level, Nigeria.
7. A debit note is a document used by a vendor to inform the buyer of current debt obligations, or a document created by a buyer when returning goods received on credit. The debit note can provide information regarding an upcoming invoice, or may serve as a reminder for funds currently due.
What Are The Purpose Of The Following Source Document. 1. Teller, 2.Invoice, 3.Receipt, 4.Voucher, 5.Cheque Store, 6. Draft, 7. Debit Note - Marketing Department

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Adelani Temiloluwa
School Of Nursing Ondo
Nursing Student
300Level, Nigeria.
Also, A credit note is issued in various situations to correct a mistake, such as when (1) an invoice amount is overstated, (2) correct discount rate is not applied, (3) goods spoil within guaranty period, or (4) they do not meet the buyer's specifications and are returned. Also called credit memo.

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Adelani Temiloluwa
School Of Nursing Ondo
Nursing Student
300Level, Nigeria.
Also, An electronic funds transfer system (EFTS) is a transfer system in which money can be transferred to business or individual accounts without requiring paper money to change hands. Electronic funds transfer systems are used for payroll payments, debit or credit transfers, mortgage payments or other payments.

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