Bank Paying-in-Slip, Debit Note, Credit Note, Statement of Account, and Vouchers
DETAILED LESSON NOTE ON BUSINESS DOCUMENTS
Subject: Bookkeeping
Class: SS1
Term: First Term
Week: 8
Age: 14 – 16 years
Topic: Business Documents
Sub-Topic: Bank Paying-in-Slip, Debit Note, Credit Note, Statement of Account, and Vouchers
Duration: 40 minutes
Behavioral Objectives
At the end of the lesson, students should be able to:
- Explain the purpose and uses of various business documents.
- Describe the function of a credit note, debit note, and other key documents.
- Identify examples of source documents and their uses in accounting.
- Arrange business documents in their correct order of issuance.
- Explain reasons for issuing credit and debit notes.
Keywords
- Bank Paying-in-Slip
- Debit Note
- Credit Note
- Statement of Account
- Vouchers
- Source Documents
Set Induction
The teacher will ask students if they have ever seen a receipt, cheque, or invoice and inquire how these documents are used in business.
Entry Behavior
Students have basic knowledge of receipts and payments from previous lessons on financial transactions.
Learning Resources and Materials
- Sample copies of receipts, invoices, debit notes, and credit notes.
- Charts showing the uses and importance of business documents.
- Accounting textbooks.
Embedded Core Skills
- Critical thinking.
- Financial literacy.
- Organization skills.
Building Background/Connection to Prior Knowledge
Students previously learned about recording transactions in the cash book.
Instructional Materials
- Lagos State Scheme of Work.
- Chart showing types of business documents.
Content
Explanation of Key Business Documents
- Bank Paying-in-Slip
- A form used to pay cash, cheques, or drafts into a bank account.
- Prepared in duplicate or triplicate for bank use and customer record.
- Debit Note
- Issued by a seller to correct an undercharge in the customer’s account.
- Example: A seller undercharges a customer by ₦2,700; a debit note is issued for this correction.
- Credit Note
- Issued by a seller to correct an overcharge in the customer’s account.
- Also issued when goods are returned or damaged.
- Statement of Account
- A summary of transactions between a seller and a credit customer, sent monthly.
- Vouchers
- Used to obtain authorization for payments made by cash, cheque, or letters of authority.
Uses of Source Documents
- Preparation of books of accounts.
- Providing written evidence of transactions.
- Proof of ownership, e.g., receipt.
- Audit purposes and account reconciliation.
- Authorization for payments.
Presentation Steps
Step 1: Revision of the Previous Lesson
- Teacher revises the previous lesson on recording transactions in the cash book.
Step 2: Introduction of the New Topic
- The teacher explains business documents and demonstrates with examples.
Step 3: Students’ Contributions and Corrections
- Students identify and describe different business documents based on examples provided.
Objective Questions (15 Fill-in-the-Blank Questions)
- A _____ is used to pay cheques into a bank account.
a) Receipt
b) Debit note
c) Bank paying-in-slip
d) Invoice - A credit note is issued to correct _____.
a) An undercharge
b) An overcharge
c) Damaged goods
d) Cash payments - The document that summarizes customer transactions monthly is called _____.
a) Statement of account
b) Debit note
c) Invoice
d) Voucher - _____ are used to obtain authorization for payments.
a) Receipts
b) Debit notes
c) Vouchers
d) Statements of account - Goods returned by the buyer to the seller are recorded in the _____.
a) Returns outwards journal
b) Returns inwards journal
c) Cash book
d) Ledger - A customer sends a debit note to correct _____.
a) An overcharge
b) An undercharge
c) A receipt error
d) Bank deposit - Goods returned to the supplier attract a _____.
a) Receipt
b) Credit note
c) Debit note
d) Voucher - A _____ is prepared when a seller overcharges a buyer.
a) Credit note
b) Invoice
c) Debit note
d) Statement of account - Vouchers are examples of _____.
a) Books of account
b) Source documents
c) Financial statements
d) Payment receipts - The document used for bank deposits is the _____.
a) Debit note
b) Bank paying-in-slip
c) Invoice
d) Receipt
Class Activity Discussion (15 FAQs with Answers)
- What is a source document?
A source document is a written record of a business transaction. - What is the purpose of a credit note?
To correct an overcharge or adjust for returned goods. - Why is a debit note issued?
To correct an undercharge in a customer’s account. - What is a voucher?
A document used to authorize payments. - What does a statement of account contain?
It summarizes transactions, including payments, invoices, and balances. - Who prepares a bank paying-in-slip?
The person depositing cash or cheques into the bank.
Evaluation Questions (10 Questions)
- Define a credit note and give an example of its use.
- What information is found on a bank paying-in-slip?
- Describe the use of a statement of account.
- Why is a debit note issued?
- List five examples of source documents.
Weekend Assignment
- Goods returned by the buyer is recorded as _____.
a) Carriage inwards
b) Returns inwards
c) Returns outwards
d) Purchases
Correct answers: 1 – c, 2 – b, 3 – a.
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