Today we write again about the basic principles – our ABC of accounting.
One of the first things to learn about accounting at school is the following principle: Nothing gets booked without receipt. Document organization is the basis for proper bookkeeping.
Vouchers can have different formats. Here are some examples: For the purchase of goods or services, we receive an incoming bill, which we pay. For the sale of goods or services, we create an outgoing invoice that our customers pay. For the payment of salaries we have the payroll journal and of course all incomings and outgoings are recorded within the bank statement. Depending on the origin of the documents, a distinction is also made between internal and external documents: own documents and third-party documents.
Own documents are issued from within the company. Copies of outgoing invoices, receipt transcripts, payrolls and so on are examples of this.
External documents are issued by outsiders. This may include but not limited to: supplier invoices, receipts, account statements, postal receipts for deposits or shipping and so on.
If an original document has been lost, replacement documents must be issued. In some cases, for example, suppliers may be required to provide a copy of the lost invoice, otherwise the time, reason and amount of the issue must be included on the replacement documents that have been replenished .
Processing of documents
All documents must be prepared, posted and filed.
The preparation includes checking whether the document is factually and mathematically correct. Then the business case of the document must be checked. If there are several documents for the same transaction, you must decide which document should be used to avoid multiple postings.
The list of documents you would normally be entering onto your system consist of the following:
– customer credits
– credit to suppliers
– payroll details
– bank statements
– postal receipts
– Private income
– Other documents
Afterwards, the vouchers must be given a serial number within their document type. The voucher is finally posted and then the vouchers must be kept properly for 7 years.
With Reviso you can scan and email your documents with the scan app and from there continue editing . This saves you a lot of paperwork and space around the office – your receipts are safe in the cloud with Reviso .
Feel free to email our customer service at email@example.com if you have further questions. Or call us: 08456 800 473.