Turn-around document

Definition

A turn-around document is a document that has been output from one system and then re-entered into the same or another system as input. These documents often facilitate updating records within an accounting information system, such as invoices or billing statements.

5 Must Know Facts For Your Next Test

1. Turn-around documents are commonly used to reduce errors in data entry.
2. They often include pre-printed information along with areas for additional data to be added.
3. In financial accounting, they can be employed for tasks such as reconciling accounts payable and receivable.
4. The use of turn-around documents can streamline processes and improve efficiency in financial reporting.
5. They frequently play a role in auditing by providing a clear paper trail.

Review Questions

Related terms

Source Document: Original records that contain the details of business transactions.

Data Entry: The process of inputting data into a computer system for processing.

Internal Control:

Procedures and policies implemented to safeguard assets, ensure accurate reporting, and promote operational efficiency.