| A | B |
|---|
| Purchase order | A document issued by the buyer of goods indicating the the goods and services required from a supplier |
| Delivery note | A document sent by seller to buyer with the goods, detailing what has been sent |
| Invoice | A document sent by seller to buyer indicating the amount owing and the required payment date |
| Statement (of account) | A document issued by the seller to a buyer showing summary of invoices, credit notes and payments received for a given period |
| Bulk discount | Discounts given for large quantity purchases from a supplier |
| Trade discount | A percentage discount given by a seller to the buyer becasue of the trading relationship |
| Settlement (cash) discount | A discount given by a seller to a buyer if the buyer payes within a specified short period of time |
| Value Added Tax | A govenment tax on sales, normally calculated on invoices and credit notes |
| Credit limit | The maximum amount the seller will allow the customer to owe at any one time |
| Document retention policy | The requirement for an organisation to keep documents for a specified minimum period, usually six years plus current year |
| Coding | Document references that use numeric, alpha or aplha-numeric ID systems |
