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1. BOM: A BOM (Bill of Materials) is a listing of the quantities of each of the materials used in manufacturing a product.

2.Purchase Order(PO): It is a document generated by the buyer through the purchase department in order to authorize a purchase transaction. The buyer will match the PO number in the invoice to the PO.

3.Local Purchase Order(LPO): It is a document issued by a buyer to a local seller for purchasing the products or services on the spot. There are two cases:

Purchase is made from unestablished seller (Without Invoice): In this case, LPO and other documents are issued to Vendor employee (buyer, who is the employee of organization).

Purchase is made from established seller (With Invoice): In this case, LPO is issued to Vendor employee (buyer, who is the employee of organization) and other documents like material voucher and invoices issued to established seller (registered vendor).

4.Job Work Order(JWO): It is usually a task or a job for a customer that can be scheduled or assigned to someone.

5.Material Requisition: It is a document that the production department uses to request materials for manufacturing process.

6.Material Voucher: It is used to record the material issue; material receive or material transfer. There are three types of material vouchers-

•Goods Issue(GI)

•Goods Receive(GR)

•Transfer Posting(TP)

7. Delivery Note: A document accompanying a shipment of gods that lists the description and quantity of the goods delivered. A copy of delivery note, signed by the buyer or consignee is returned to the seller as a proof of delivery. There are two types of delivery notes:

•Outgoing Delivery Note (OD Note)

•Incoming Delivery Note (ID Note)

8. Quantity Debit Note: When we received shortage of quantity of goods, we will raise this note from Inventory.

9. Rate Debit Note: When the supplier has charged some excess rate for the raw material in invoice and for the price difference we will raise this note.

10. Credit Note: It is a document used to adjust or rectify errors made in a sales invoice which has already been processed and sent to a customer. If you have already sent an invoice to a customer but now need to provide a credit note. There are two types of credit note:

•Rate credit Note- Unit Price Overcharged

•Quantity Credit Note – Goods Short Shipped

11. Purchase Invoice: It can be used to prove that something was bought and how much was paid for it.

12. Consignment Stock: That are in your possession but ownership lies with the vendor.

13. FICO: Financial Accounting and Controlling

14. MM: Material Management

15. Material Indent: It is a document prepared by the user of material requesting the purchase department to place the order with the supplier for the particular material indented.

16. Sales Order(SO): It is a document generated by the seller that authorizes sale of the specified item(s) issued after receipt of a customer’s purchase order.

17. Sale Invoice: It is the document a company uses to bill the customer for purchase.

18. Bank Guarantee: It is a legally binding document issued by a bank or other financial institution on behalf of a client to a supplier to enable the client to obtain goods or services from a supplier on credit for an agreed time period. It is a formal assurance by the bank to make payments to a supplier in an event where the client fails to meet their part of the debt obligation.