*In a larger business, a goods received note (GRN) is generated whenever a delivery is made to the business. The GRN details what goods and quantities have been received and when. A copy of the GRN is sent to the accounts department to enable them to match it to the purchase order (that would have [read more]
Purchase Order*A business raises a purchase order when it wishes to order goods from a supplier. Details of quantities, prices and possibly delivery times are detailed on the document which is then sent out to the supplier. A business often numbers it’s purchase orders so that it can be cross-referenced to the goods and invoice when they [read more] |
|
Source Documents*The source documents are the paper (or electronic) record of all the businesses transactions. These documents are then recorded and summarised as part of the bookkeeping and accounting process. Examples of source documents are: sales order, purchase order, invoice, credit note, goods received note, bill of lading. It is vital that a business keeps copies [read more] |
Formal Networking*The idea behind business networking is that people are much more likely to act on a personal recommendation. Networking can be a fantastic way of marketing your business; however, it can also be a great way to find good suppliers and colleagues in the same line of business with whom you can compare notes. As [read more] |
