Exploring Key Business Documents in 2nd Year Business Studies
This educational material delves into the essential business documents used in buying and selling goods and services. It covers documents such as Letter of Enquiry, Quotation, Order, Invoice, and more. Understanding these documents is crucial for interpreting business transactions effectively.
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2.10 Key Business Documents 2nd Year Business Studies
Learning Intentions - Complete business documents used when buying and selling goods and services. - Interpret business documents used when buying and selling goods and services.
1. Letter of Enquiry 2. Quotation 3. Order 4. Invoice 5. Credit Notes 6. Statements 7. Delivery Docket 8. Receipt Key Business Documents
Customer Letter of Enquiry The buyer makes enquiries by email, telephone or via an online form to find out: Seller - - - Availability of goods Best price on offer When delivery can be expected. Sent by the Customer to the Seller.
Key Terms for Letter of Enquiry Cash on Delivery - COD Payment for goods must be made when you receive the goods. Cash with Order - (CWO) Payment must be made when the goods are being ordered. On Credit The goods must be paid for within an agreed period of time.
Seller Customer Quotation Lists the prices available from a supplier of goods and services. It is a reply to an enquiry. Sent by the Seller to the Customer.
Effective Purchasing Obtaining quotations from a number of different supplies and then choosing the supplier that offers the best deal in terms in price, quality, delivery and terms of sale.
Customer Order A written request to a supplier to supply particular goods and services to the person named on the order. Seller Sent by the Customer to the Seller.
Completing an Order Key Business Documents - Order.mp4
Invoice Seller The invoice provides details of goods supplied including price and quantity and shows the amount owed. Customer Always check the calculations on the invoice and file a copy. Sent by the Seller to the Customer.
Key Terms for an Invoice Trade Discount A reduction in the price of goods that is given by the seller to trade buyers. (Someone who intends to resale the goods to another person) E&OE Errors and Omission Expected This is printed on the end of all business documents and gives the seller the right to correct any errors.
Completing an Invoice Key Business Documents - The Invoice.mp4
Credit Note Seller A document that indicates the amount that has been deducted from a bill as an allowance for goods that were returned. Customer Sent by the Seller to the Customer.
Completing a Credit Note Key Business Document - Credit Notes.mp4
Seller Statement A document that lists all the transactions between a buyer and seller over a period of time and the amount that is still due at the end of the period. Customer Sent by the Seller to the Customer.
Completing a Statement Key Business Documents - Statements.mp4
Delivery Docket When the goods are delivered to the customer's premises they sign as proof of receipt Seller Customer Always check the goods delivered match the goods delivered before signing! Sent by the Seller to the Customer.
Receipt A written document signed by the seller of goods stating that they have received payment for goods supplied. Seller Customer Sent by the Seller to the Customer.
1. Letter of Enquiry 2. Quotation 3. Order 4. Invoice 5. Credit Notes 6. Statements 7. Delivery Docket 8. Receipt Key Business Documents
Learning Intentions - Complete business documents used when buying and selling goods and services. - Interpret business documents used when buying and selling goods and services.
