2.3.2: Other Business Documents

• There are a number of other business documents that businesses will use:

  • Bank statement
  • Budget variance report
  • Delivery note
  • Goods received note
  • Repair request form
  • Payslip
  • Receipt
  • Remittance advice
• A bank statement is sent by a bank to customers and is a summary of transactions during the period. It shows the opening and closing balance and money leaving and entering the account.
• A budget variance report is an internal document used to inform business decisions and show how the business is performingl; better or worse than expected.
• Variance is the difference between the budgetted and actual figure. It is calculated by:

  VARIANCE = ACTUAL DATA - BUDGETED DATA

  VARANCE % = (VARIANCE/BUDGETTED DATA) x 100
• The variance will either be favourable or adverse.

  A favourable variance is good and means that the actual figure is better than the budgeted figure, having a positive outcome on profits.

  An adverse variance is not good and means that the actual figure is worse than the budgeted figure, having a negative outcome of profits.
• A delivery note is a document sent with the goods to the customer to confirm that the correct products and quantities are being delivered.
• A goods received note confirms that the customer has received the items.
• Remittance advice is a document sent by customer to the supplier to confirm that invoice payment has been made, including how much and the date it was made.
• The receipt is issued by the supplier as 'proof of purchase' that a purchase has been made.
• A payslip is issued to employees and provide a record of the pay they have earned and received.
• A repair request form is an internal document used to inform maintenance staff of faults.