Accounting Theory

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Accounting Documentation

* Classification of accounting documentation

* Types of Documents

* Circuit showing who gives and who receives the account records:

Business documents are all written in extended vouchers which records the operations performed in commercial activity, according to the customs widespread and the provisions of the law. These are vitally important to maintain proper control of all actions performed in a company or companies.

Your mission is important because in them is precisada the legal relationship between the parties involved in a particular transaction. They also help to demonstrate the performance of a commercial activity and therefore are the key to accounting for such actions.

Finally these documents to control the operations performed by the company or the merchant and the tests of the accounting.

The mission that meet business documents is of paramount importance, as appears from the following:

* They precisada is the legal relationship between the parties involved in a particular transaction, or their rights and obligations.

* Therefore, they are a form of evidence to demonstrate the performance of the acts of trade

* They are also the key to the accounting for such transactions.

* Allow full control of the operations performed by the company or the merchant and the tests of the accounting.

Classification of accounting documentation

* From the point of view of who receives or emits the documentation:

The external receipts are those issued outside the company and then received and held in the company. Eg purchase invoices, receipts of payments made, etc..

Vouchers are internal documents issued in the company that can be delivered to third parties or circular in the same company. Eg sales invoices, receipts collections, budgets, vouchers.

* From the point of view of documentation and file records:

Documents filed and generate registration:

Bill

Debit Note

Credit Note

Ticket

Receipt

Promissory note

Check

Banking Credit Note

Documents filed only:

Purchase Order

Note Sales

I refer

Account Summary

Moreover, not only recorded commercial documents: public instruments (deeds, mortgages) and private (leases, deposit) and any proof that is supported by an accounting record is a source of information (payroll lists, reports

Types of Documents

Note Purchase Order or

It is a document by which a person or company makes a purchase order from a dealer. This document does not compel commercial operation.

Must extend at least two copies: one that is held by him signed (buyer) and another, which is what is delivered or sent to the seller.

Note Sales

Called note retail commercial document detailing the seller who has sold goods to the buyer, indicating quantity, price, delivery date, payment and other terms of the transaction.

Accepted the order by the seller, this makes the bill of sale, which takes charge of delivering the commitment merchandise listed therein, and the buyer is obliged to receive them. This marketing document obliges both sides to perform the operation under the terms established. It is issued in duplicate (the original and duplicate the seller to the buyer). This document does not create accounting records.

I refer

This voucher is used to execute the surrender or transfer of goods sold. In it, the person receiving such property records his line, and is thus materialized the seller’s right to charge and the buyer’s obligation to pay. Provides a basis for the preparation of the bill.

The spreads refer triplicate: The signed original is delivered by the seller to the buyer, the duplicate, with the agreement of the buyer by the effects that it has received, retained by the seller and wing section is intended to proceed wing billing issue of the bill. Finally the triplicate remains in the reservoir section pair record merchandise outlets. It extends at least in duplicate, although it is common practice in triplicate to the carrier also be proof of the operation performed.

Not recorded in the books, given that usually the Delivery Notes are issued without values

Bill

Relationship is written that the seller delivers the goods to the buyer detailing who sold, indicating quantities, nature, price and other terms of sale.

This paper provides the customer charge and posted its debt to the seller. For the buyer is the document that justifies the copra and its commitment is recorded accounting charges.

At least the bill should be extended twice. The original is kept by the purchaser and the duplicate is for the seller and the sale is recorded and charged to the buyer.

The bill is the main document of the sales transaction with her is materialized and completed the transaction and accounting document is a form of evidence and legal

Debit Note

It is called the communication so that a trader sends his client, which will be charged or debited notifies the account a certain amount or value, of the concept that it indicates. This document increases the debt, either by an error in billing, interest payment charges, etc..

Credit Note

This is the document in which the merchant sends his client, in order to communicate the accreditation the account a certain amount, for the reason stated in it.

Some cases where used: breakage of goods sold, price cuts, refunds or discounts, or correct billing errors by excess.

Account Summary

It is usual to refer clients to a monthly summary of your account, in order to:

Buyer: allows you to compare the outstanding balance contained in the summary of features that arising from their own records.

Sales is a way to remind the client of the outstanding balance.

Receipts

The receipt is proof of payment or receipt of money. He always gives the recipient and signature update is standing the test of partial or total extinction debt.

This document is important:

* Disclaimer: is a test of who made the payment.

* Accounting: to whoever drew up a record inflows of funds, and the recipient is a control element of the output values.

Is issued in duplicate, and recorded in the books.

Promissory note

Literal or Document Title of security or financial instrument, written document by which a person

(Issuer) undertakes to pay another person (the beneficiary) A sum of money on an agreed date.

The notes may be bearer or endorsable ie that can be transmitted to a third party may issue promissory private individuals or state companies.

People involved in the Note

* Drawer is who agrees to pay the sum of money on demand or at a fixed future date or determines possible.

* The Beneficiary or Holder, is one whose order must be made to pay the sum of money under the promissory

* The Surety or Guarantor. The person who guarantees payment of the note.

Endorse a note, when a beneficiary is transferred to another property of the note and therefore the right to receive the amount can be blank or complete.

* Blank: The beneficiary is limited to sign the back of the document.

* Full: In addition to signature must indicate the date and personal details of the new beneficiary.

To be considered commercial must have the clause “to order”, which gives the quality communicable and transferable.

Banking Credit Note or deposit slip

This is the document that the bank provides its customers declaring having received money, checks or other securities on deposit in current account.

Classification of bank deposits according to the character of the funds deposited:

* Current Account Deposits: These deposits do not confer the right to receive interest, because the funds are permanently available to the client. Withdrawals are made by check.

* Savings deposits: These are made by a small savers and earn interest on funds deposited. The bank provides a book which records the deposits, withdrawals, interest and balance. There are two classes Savings: a) common b) Special.

* Time Deposits: The deposit rate allows a greater interest because the owner can not dispose of the funds until the deadline. The withdrawal of funds plus interest is effected with proof that the bank received during the deposit.

Check

It is a payment order issued against a bank in which the drawer has funds deposited into your checking or order authorization to overdraw.

Authorization to overdraw: It means writing checks without sufficient funds, the bank’s permission.

Parts of a check:

* Heel Collection: Allows you to cash the check at the bank window.

* Body: the part that is delivered to the recipient, with or without the payment stub.

* Fixed stub checkbook, may or may not be. Its purpose that cuentacionista take control of their current account funds.

People involved:

* Drawer or Signatory: who is writing the check and payment orders

* The Bank: is the institution on which is turned or delivered the check and who should pay.

* Beneficiary: The person who receives the check and you can cash it.

* Endorser: You will be transferred by endorsement check to the bank.

Crossed Cheque: Is carrying two paralleling lines cross in the upper left corner. Can not be charged at the window, therefore, must be deposited into your checking or savings account.

Bearer Cheque: Is one in which no mention of the name of the beneficiary can be left blank or write bearer instead. The bank will pay to the person presenting it for payment at counter or accept your deposit in bank account. Up to a maximum of $ 200. – (Two hundred)

Presentation for payment:

The term common presentation of a check for payment is 30 calendar days from issuance.

The post-dated checks must be presented for registration within a maximum period of 360 days.

Common Cheque: Used as a means of payment, the recipient can redeem it at the window, deposit it into your bank account or endorse. Can be endorsed at most 2 times.

Deferred Cheque: It is used as an instrument of credit, can endorse indefinitely.

Cases in which the bank may refuse to pay a check:

* Due to lack of funds.

* In the absence of some of the essential requirements.

* If person was scraped, amended or deleted.

* For lack of endorsement by the recipient.

* For your payment to be banned (bankruptcy of the drawer, etc.)

* By dubious authenticity of the signature of the drawer.

* If the drawer complaint that was lost or stolen.

* By endorsements branded or exceeding the permissible limit.

Endorsing a check: The check made out in favor of a particular person, who does not have the clause “not to order”, will be transferable by endorsement.

The signature to be inserted into a check for payment or deposit, is not counted as an endorsement.

The endorsement must be pure and simple and contain the signature of the endorser, their full names or the name of the entity it represents.

Common Cheque: Your endorsement is limited.

Deferred Cheque: Your endorsement is unlimited.

In this case, a sheet can be attached, if not fit more signatures.

Circuit showing who gives and who receives the account records:

 

 

 

Ezekiel Bohrer – Guido Hassid

Federico Romero – Alejandro Gambetta

M. Laura Capponi – Yanina Godoy

Gabriela