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Purchase order - A buyer generated document that authorises a purchase transaction, Sales order - A seller generated document that authorises a sale to a customer, issued after the receipt of a purchase order , Sale invoice - It is a document that itemises a transaction between a buyer and a seller., Output tax - It is the tax charged on the sale of goods and services, Input tax - It is the tax paid on the purchase of goods and services, Trade discount - It is a definite amount that is deducted from the list price of the goods for the supplies to some customers, with the intention of encouraging and rewarding customer loyalty, Prompt payment discount - It is offered to customers in order to encourage early payment of invoices., Credit note - It is a document issued by a supplier to a customer cancelling part or all of a sales invoice,

Business documents definitions - Book keeping Transactions - AAT


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