3. 17a Investigating the flow of financial documents 1.

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Presentation transcript:

3. 17a Investigating the flow of financial documents 1

3.17a Investigating the flow of financial documents 1 The sequence of documents Stage 1 – obtaining the goods  Buyer makes out order form listing goods and prices  Seller despatches goods with delivery note  Buyer signs delivery note as proof of delivery and returns one copy  Buyer may make out Goods Received Note listing items received and checked

3.17a Investigating the flow of financial documents 1 The order form To:Computer SuppliesSupplier No: Bexley WayOrder No: 456 HIGHTOWNDate: 6 June 2002 HG4 7PT Delivery: 10 June Signed: Jackie Edwards Designation: Manager QuantityDescriptionItem CodeUnit price 2 packs of 50 Datec floppy disks DT

3.17a Investigating the flow of financial documents 1 The order form – key points  Is always on buyer’s headed paper – giving name of firm, address, telephone no, fax, website and VAT registration no (if applicable)  Must be signed to be ‘official’  Must give accurate details of quantity, description, item code and price  Does not include VAT  Does not include total amount

3.17a Investigating the flow of financial documents 1 The delivery note To:Jones and KellyDate: 10 June 2002 Riverside Walk HIGHTOWN HG2 8PP Order NoCust a/c no. Despatch date Invoice no. Delivery method Van Item codeQuantityDescription DT6862 packs of 50 Datec floppy disks

3.17a Investigating the flow of financial documents 1 The delivery note – key points  Is on seller’s headed paper  Contains no prices  Buyer signs and keeps one copy  Buyer should comment if goods or package is damaged Received in good condition (or comment here): Goods received but not checked Signed: Jackie Edwards Date: 27 June 2002 Please print name here: JACKIE EDWARDS

3.17a Investigating the flow of financial documents 1 Goods received note Supplier: Computer SuppliesGRN No: 1234/12 10 Bexley WayGRN date: HIGHTOWNCarrier: Comp Supp Supplier A/c No: 123Del note date: Checker: David Evans Order No Quantity ordered Quantity delivered DescriptionCondition 1232 packs of 50 Datec floppy disks One Box damaged - items missing

3.17a Investigating the flow of financial documents 1 Goods received note – key points  Often called a GRN  Is an internal document  Records items received and any discrepancies/faults  Copies always sent to accounts and purchases. Accounts then know whether bill should be paid or not.

3.17a Investigating the flow of financial documents 1 Using computers to order goods  Orders are often recorded on computer  Order forms can be produced on computer  GRNs can be produced on computer  Transactions are ‘logged’ under supplier’s account number.

3.17a Investigating the flow of financial documents 1 Benefits of using computers  Forms are quicker to produce  Cost of all orders (and total amount of all orders) is easily obtained  Information is available to all relevant staff simultaneously  Details of any transaction are easily obtained  Delays or problems can be quickly identified