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Internal and External Documents

There are two basic types of documents produced by an accounting system: external and internal documents. External documents, such as invoices, payment vouchers, VAT reports and tax returns, are produced because someone outside the business needs them. These are termed "Forms" in Standard ERP. Internal documents are used inside your company to make decisions about different things. Examples are price information, sales statistics, credit limits, payment forecasts etc. These are termed "Reports" in Standard ERP.

Accounting material should be handled with care. You need the information it provides to control and to develop your business, and you are also required by law to keep it up to date and archived in a certain way.

Both the reports handed in to authorities, banks etc. and those you make for your own use are based on a basic series of transactions. The records of these basic transactions (sales invoices, cash ledger vouchers, purchase invoices, bank statements, personnel records and loans) are found among the documents of any business.

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