Exact Globe+

Our Reference

Introduction

In the conventional bookkeeping system, a unique identification number is given to each entry recorded in the journals. However, with only the entry number, it is difficult to analyze a whole transaction efficiently as this entry number does not relate to the complete transaction. A complete transaction covers several processes like ordering, receiving, invoicing and making payment.

Apart from entry numbers, reference numbers are also used. With the reference numbers, these numbers can be used to relate to the various processes involved in your business transactions. This will help to make the administration more transparent and improves the monitoring of the business operations. There are two reference numbers used which are Our Reference and Your Reference. In this document, the Our Reference will be explained.

Description

The Our Reference is the reference number which you set as a reference to a transaction. For example, when a sales transaction is recorded in the sales journal, the invoice becomes the source document and the invoice number becomes the Our Reference in the journal. In addition, your customer will refer to this number when he makes payment. As the Our Reference relates to the different processes in a transaction, it is possible to use this reference number to trace the transactions of your business. For example, in Finance/Accounts receivable/Cards, you can select to view the invoice list of a selected debtor and search by Our Reference to trace the transaction linked to the specified Our Reference.

In another example of a purchase transaction, when you receive the purchase invoice from your supplier, the invoice number will become Your Reference. See Related documents: Your Reference to know more about the use of Your Reference. However, you still use the Our Reference number when recording this transaction in the purchase journal for your own archive purpose. With this system, you can use the Our Reference and Your reference numbers to record and trace the whole cycle of the business transactions.

Apart from sales and purchase transactions, other internal transactions such as asset depreciation or revaluation also use Our Reference. In these examples, Our Reference functions as an internal identification number and is not based on a source document.

Related documents

• Your Reference