Accounting and Finance Foundations

Unit 5

Accounting and Finance Foundations Unit 5: Accounting Terminology 417

Accounting Terminology

Purchase order: A business form granting permission to place an order. Because businesses need to

keep track of orders being placed, some require a purchase order number be given when ordering. This

purchase order number authorizes an employee to make a purchase, in turn helping prevent unauthorized

purchases. Companies that require the use of purchase orders guarantee payment upon completion of the

purchasing cycle.

Chapter 15

Student Guide

Name Camden Crafts

Address 27a Great Lakes Road

City CAMDEN NSW 2570

Phone 024 579-1212

ABN: 5509x212511

Date: May 4, 2012

Country Décor

221 Norman Bay Road

NORMAN BAY, NSW 2252

Phone 024 111-5115

fax 024 111-6116

Purchase Order 2052

PurChAse Order

Qty Goods Provided Unit Price TOTAL

5 Lamp Stand (hand turned) $22.00 $1110.00

5 Beechwood Coffee Table $78.00 $390.00

6 Beechwood Corner Table $84.00 $384.00

1 Pedestal Table & 6 chairs $998.00 $998.00

12 Cottage Style Stool (TEAK) $35.00 $420.00

All Prices inclusive of GsT

Payment Details

Cash

Credit Card

Check

Received: Office Use Only

Lesson 15.1 Source Documents (cont’d)