DOCUMENTS USED BETWEEN BUYERS AND SELLERS PROCEDURE FOR BUYING AND SELLING

Receipt: This document is evidence that payment for goods bought has been made. It shows the description of the goods.

Invoice: It sometimes. act as a receipt. It shows the description of the goods i.e. quantity, quality, sizes, colours etc.

Proforma Invoice: The seller sends it to a prospective buyer just to inform him that credit is not allowed, the amount he is likely to pay for the good(s).

Statement of account: This is sent by the seller to the buyer at regular intervals showing him the details of their business activities and the balance between them over a period of time.

Credit note: This is sent by the seller to the buyer to inform him that his account has been overcharged. It is also used in returning empty crates and damaged goods. It is usually written in red colour.

Debit. note: This is sent b4he seller to the buyer to inform him that his account has beers undercharged.

Advice note: This is sent by post immediately the goods are dispatched to form the buyer that the goods ordered are on the hay, the mode is through transport services.

Consignment note: This is usually given by the supplier to the buyer. It is a formal instruction to the transport company to accept the goods and deliver them to the customers. The customer is required to sign the consignment note for the driver of the vehicle.

Price list: This document shows the current prices of goods listed.

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