Collect & Verify Source Documents
![Picture](/uploads/1/4/9/3/14933116/3565869.jpg?277)
Collecting and verifying source documents is important because a business needs to know how and why business transactions occurred. With an invoice, receipt, memorandum, and check stub, the business knows exactly where the money is coming and going.
![Picture](/uploads/1/4/9/3/14933116/2693098.jpg?0)
- Invoice...used when a business transaction is on account.
- Receipt...used when a business transaction is received in cash from another business.
- Memorandum...used when a business transaction does not require any other source document.
- Check Stub...used when a business transaction is paid in cash to another business.