The accounting supports are the documents that serve as the basis for registering the commercial operations of a company, which is why special care must be taken when preparing them
All economic operations carried out by companies must be recorded in the accounting books, but in turn, for each of these records to be justifiable, they must be supported with the relevant documents for each of them, which is why they are presented below the main commercial papers and securities that can be used in the accounting cycle, their definition and their main characteristics.
All accounting supports must contain the following general information:
- Name or company name of the company that issues it Name, number and date of the voucher Description of the content of the document Signatures of those responsible for preparing, reviewing, approving and accounting for the vouchers.
The main accounting supports
Cash receipt
The cash receipt is an accounting support in which the cash income collected by the company is recorded. The original is delivered to the client and the copies are filed, one for consecutive filing and another to be attached to the daily accounting voucher.
The cash receipt is posted with a debit to the cash account and the credit according to its content or concept of the payment received. Generally it is a support of the partial or total credits of the clients of a company for different concepts of cash sales since for them the support is the invoice.
Bank consignment receipt
This is a receipt that banks prepare and provide to their clients so that they can fill it out when depositing. The original remains in the bank and a copy with the stamp of the cashier or the stamp of the register machine, serves for the accounting of the company that consigns.
There are two types of consignments, one to consign cash and checks from local banks and another to consign remittances or checks from other places.
The accounting supports are made in original and as many copies as the needs of the company require.
Proof of deposit and withdrawal from savings accounts
Savings and credit corporations have designed formats that they provide to their clients, in notebooks, so that they can be filled out when depositing, or withdrawing money from their savings account. This support has two options to choose only one; deposits in cash or checks from local banks and withdrawal in cash or by check, according to the amount and requirement of the client.
Purchase-sale invoice
The commercial invoice is an accounting support that contains, in addition to the general data of the accounting supports, the description of the items bought or sold, the freight and taxes incurred and the payment conditions.
From the seller's point of view, it is called the sales invoice and the buyer's, the purchase invoice. Generally, the original is delivered to the client and two copies are made, one for the consecutive file and another to be attached to the daily accounting voucher.
The invoice must be issued with the following requirements:
- Be expressly referred to as a sales invoice. (pre-printed).Numbering in consecutive order. (pre-printed). Surname and name or company name and NIT of the seller or of the person providing the service. (pre-printed). Surname and name or business name of the purchaser of the goods or services. Date of issue. Specific or generic description of the items sold or services provided. The name or business name and NIT of the invoice printer. (pre-printed). Indicate the sales tax withholding status.
Check
It is a security by means of which a person called "drawee" orders a bank called "drawee" to pay a certain sum of money to the order of a third party called "beneficiary."
Proof of payment
Also called a payment order or proof of discharge, it is an accounting support that supports the payment of a certain amount of money by check. Generally, in the company it is prepared in duplicate, the original to be attached to the daily accounting voucher and the copy for the consecutive file.
For greater control in the payment receipt there is a copy of the check, since the security title is delivered to the beneficiary.
The accounting supports must be established in an orderly and summarized way, clearly expressing the transactions that are carried out daily in a company
Bill of exchange
This negotiable document or security is an unconditional payment order given by a person called "drawee" to another called "drawee", to pay to the order or to the bearer, a certain sum of money, at sight or on a specific date.
In commerce, the bill of exchange is used as a guarantee of payment in purchases and sales on credit. The seller makes his customers sign bills of exchange and they are called bills receivable; the buyer accepts the bills from their suppliers and they are called bills payable.
I'll pay
It is a security by which a person is obliged to pay a certain amount of money on a certain date. This document is used to support bank loans.
Debit note
It is a receipt that the company uses to charge the account of its clients, a higher value due to omission or error in the settlement of invoices and the interest caused by financing or by default in the payment of its obligations.
Credit note
When the company grants discounts and they are not settled on the invoice or when customers make total or partial returns of the goods, a voucher called a credit note is used for their accounting. This voucher is prepared in one original and two copies; the original for the client, a copy for the consecutive file and another to attach to the daily accounting voucher.
Petty Cash Receipt
The petty cash receipt is a support for the expenses paid in cash, for minimum amounts that do not require the drawing of a check, for this a fund called petty cash is established.
Accounting note
It is the document that is prepared in order to record the operations that do not have an accounting support, such as the correction, adjustment and closing entries.
Daily accounting voucher
It is a document that must be prepared prior to the registration of any operation and in which the number, date, origin, description and amount of the operation are indicated, as well as the accounts affected with the entry. Documents and supports that justify it are attached to each voucher.
Accounting procedure: Classification, analysis and coding of the supports. Preparation of draft entries. Preparation of the daily accounting voucher.
Through the following video, produced by Educatina, you will learn more about some of the main accounting supports: invoice, receipt, credit note, debit note, remittance and deposit slip.
