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Employee Identity Activity Information Time and Billing Data - B. Sales Order

The information reported in an organization's accounting system comes from source documents generated from financial transactions. Source documents provide essential details of transactions like amount, date, and purpose. The essential elements of a paper-based accounting system are source documents, accounts, chart of accounts, journals, ledgers, and outputs. Time cards contain employee identity, activity information, and time/billing data. Sales orders contain customer identity, item/service ordered, and billing information. Customer invoices contain customer identity, item/service provided, and amount owed.

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Naruse Jun
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43 views1 page

Employee Identity Activity Information Time and Billing Data - B. Sales Order

The information reported in an organization's accounting system comes from source documents generated from financial transactions. Source documents provide essential details of transactions like amount, date, and purpose. The essential elements of a paper-based accounting system are source documents, accounts, chart of accounts, journals, ledgers, and outputs. Time cards contain employee identity, activity information, and time/billing data. Sales orders contain customer identity, item/service ordered, and billing information. Customer invoices contain customer identity, item/service provided, and amount owed.

Uploaded by

Naruse Jun
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

1. Where does the information that is reported in an organization’s accounting system come from?

Expound your answer. (5 points)


- The information that is reported in an organization’s accounting system comes from
the source documents. When an organization makes a financial transaction, a
document is generated. That document is known as source document. The source
document is essential for the accounting system. It works as evidence that a financial
transaction has taken place. A source document explains all the basic information of
the transaction such as amount, date, and purpose.
2. Identify the essential elements of a paper-based accounting system. (6 points)
- The essential elements are:
Source documents
Accounts
Chart of Accounts
Journals (special and general)
Ledgers (subsidiary and general)
Outputs

3. Identify three data elements contained in each of the following documents: a) time card; b) sales
order; and c) customer invoice
- A. time cards
 Employee Identity

 Activity Information

 Time and Billing Data

- B. Sales order

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