September 1, 2014 Principles of Accounting 12: Keep thorough records

You will not be the last person to review paperwork or entered data. Other people (and authorities) weeks, months, and years in the future will be referring to work you do today, so work must be performed with that in mind. Consider that others will not have the context you have right now, and so extensive notes explaining special considerations are required.

Workbook: Download this 9 page (2.66Mb) PDF. Print in black-and-white, and add notes in the indicated places.

Video

Size:   29.8Mb, 15’52”

Assignment

A pile of invoices (as PDF), with some scattered notes (some are AR, some are AP). Some are “once off” invoices, and their meaning is not immediately obvious. Prepare a list of specific questions you have about each invoice, the answers that you wish were written on the invoice. You goal is to understand a lot about each invoice. In your report, indicate the supplier name and amount of each invoice, so your comments can be mated to the invoice provided.

Email your ideas to the Trainer, and consider that others will have questions about invoices you handle – add meaningful notes to keep thorough records.

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