Receipt definition in terms of Accounting
Accounting

Receipt definition in terms of Accounting

Receipt is an acknowledgement for cash received. It is issued to the party paying cash. Receipts form the source for entries in cash book. Receipts…
Invoice definition in terms of Accounting
Accounting

Invoice definition in terms of Accounting

An invoice occasionally called a sales invoice, is a bill sent by a supplier of a product or service to the buyer. It is a business…
Voucher definition in terms of Accounting
Accounting

Voucher definition in terms of Accounting

Voucher is a written document in sustain of a transaction. It is a document that shows goods have bought or services have been rendered, authorizes…
Revenue Definition in terms of Accounting
Accounting

Revenue Definition in terms of Accounting

Revenue means the total receivable or realized from sale of goods and earnings from interest, dividend, commission, etc. Revenue is the total of money that…
Expense Definition in terms of Accounting
Accounting

Expense Definition in terms of Accounting

In accounting, an expense can be distinct as a cost; an outflow of money or other asset of worth; incurred throughout an exacting accounting time.…
Stock Definition in terms of Accounting
Accounting

Stock Definition in terms of Accounting

Stock contains goods unsold on a exacting date. Stock may be opening and closing stock. The term opening stock means goods unsold in the opening…
Sales Return or Returns Inward Definition in Accounting
Accounting

Sales Return or Returns Inward Definition in Accounting

Sales Return or Returns Inward When goods are returned from the consumers due to faulty quality or not as per the conditions of sale, it…
Sales Definition in terms of Accounting
Accounting

Sales Definition in terms of Accounting

Sales are an exchange of money for goods, services or other assets. In accounting, sales refer to the revenues earned when a business sells its…
Purchases Return or Returns Outward Definition in Accounting
Accounting

Purchases Return or Returns Outward Definition in Accounting

Purchases Return or Returns Outward When merchandise is returned to the suppliers due to faulty quality or not as per the terms of purchase, it…
Purchases Definition in terms of Accountimg
Accounting

Purchases Definition in terms of Accountimg

Purchases Purchases refer to the quantity of merchandise bought by a business for resale or for utilize in the production. Purchase means to acquire ownership…
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