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 Reason for the disbursement

 General ledger account to be charged

 Initials of the person disbursing the money from the petty cash fund (14)

Sales and purchase invoice

Sale invoice: It is a document that is generated by a seller of goods and services. The invoice lists

the items that have been purchased by the customer and their respective quantities. It presents a

total amount owed by the customer after deducting any given discounts. The sales invoice

represents the revenue earned by a company. The due date on a sales invoice marks the money

which is still outstanding from the customer’s end.

Purchase invoice: It is a document that is issued by the purchaser of goods and services, confirming

that the order is indeed valid and has been fulfilled by the seller. This invoice is created after the

purchase order which is issued by the purchaser to the seller. The due date on the purchase invoice

is the date by which the purchaser commits to pay the seller for the itemized goods and services.

(15)

Credit notes and debit notes

Credit notes - A credit note is issued when a credit has been made in the account of a client. The

seller issues a credit note to the buyer informing them about the credit that has been provided in

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