EMS TERM 2 / LESSON 2 PRE N1

SOURCE DOCUMENTS

 Every transaction is recorded on a document.  The document depends on the type of transaction that takes place.  These documents are called source documents.  These documents must be completed correctly and then kept in a safe place.

Good bookkeeping comes from good record keeping.

1. Receipts A receipt is proof that you gave the school / somebody the money.

 Receipts are usually issued in duplicate.  The school / organisation giving you the receipt keeps the duplicate for their records.  The person paying the money usually keeps the original receipt.

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A receipt must show: 1. The name of the body issuing the receipt. 2. A serial number. 3. The date. 4. The name of the person paying the money. 5. The amount received in words. 6. What the money is for. 7. The amount received in figures. 8. How the money was paid i.e. cash or cheque. 9. The signature of the person receiving the money, as proof that it was received.

2. Deposit slips  There are always at least two copies of a deposit slip.  The teller will check if the money deposited is the same amount written on the deposit slip.  The teller stamps the deposit slip with the name of the bank and the date and keeps the original.  A duplicate deposit slip is returned to the person depositing the cash.  This is proof the money was given to the bank.  Name, contact telephone number and signature of depositor.  Reference number.

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3. Cash register (till) slips When you go into a shop and make a cash purchase you will usually get a cash register / till slip in receipt for what you buy.

 The till makes two slips.  One is for the business records.  The other copy of the till slip is removable and is usually given to the customer.  This till slip must be kept by the buyer as proof of purchase.  It must be shown to the seller if there are any problems with the goods purchased and the buyer wishes to return them or claim a refund.

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The following information normally appears on a cash register or till slip.  Name of store.  Telephone number of store.  Date of transaction.  Name of cashier.  Price of article(s) sold.  Subtotal of cash transaction.  Vat @ 14%.  Total of cash transaction including VAT.  Money tendered for payment.  Change given.

4. Cheques and cheque counterfoils  A cheque is a written instruction to the bank, by a person who buys, to pay a certain amount to the person he is buying from.  The cheque counterfoil or stub, which remains in the cheque book, has the information with regards to the amount, to whom, for what as well as the date.

1. Cheque counterfoil or stub. 2. Drawee (name and branch of bank which must pay cheque). 3. Date on which cheque was written. 4. Serial number of cheque. 5. Payee (person or firm to whom the money is payable). 6. Amount of cheque written in figures. 7. Amount of cheque written in words ending with only. 8. Signature of drawer (person authorized to sign cheque). 9. Bank account number of business or person issuing cheque. 10. Purpose for which payment is made. 11. Crossing. 12. Name of drawer, either individual or business.

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Activity: Source Documents

QUESTION 1 (3) Name 3 examples of source documents. 1.1 ______1.2 ______1.3 ______

QUESTION 2

Look at the following source document and answer the questions.

2.1 What kind of source document is this? (1) ______2.2 What is the name of the school who issued the document? (1) ______2.3 What is the number of this document? (1) ______2.4 From whom did the school receive the money? (1) ______

2.5 Who received the money at the school? (1)

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QUESTION 3 3.1 When do you receive a cash register slip? (1) ______3.2 Give another name for cash register slip. (1) ______3.3 Name one (1) reason why you have to make sure that you have received a cash register slip. (1) ______

QUESTION 4

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4.1 At which shop have the purchase been made? (1) ______4.2 How many items / products have been bought? (1) ______4.3 What was the total amount of purchases? (1) ______4.4 What kind of payment has been used? (1) ______4.5 Which cashier did the transaction? (1) ______

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QUESTION 5

5.1 What source document is this? (1) ______5.2 What does the lines mean at no. 11? (1) ______5.3 Whose name must be filled in at no. 5? (1) ______5.4 Why is the amount at 6 and 7 written in words and numbers? (1) ______

5.5 What does the number at no. 9 mean? (1) ______5.6 What does the number at no. 4 mean? (1) ______5.7 Who must sign at no. 8? (1) ______

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