Glossary: P

A source document is an original document that records and reflects a transaction between parties.

Source documents that support the information in the governance documents and financial information include:

• e-mails and handwritten memos,
• supplier invoices,
• expense reports and receipts,
• paid cheques and credit card receipts,
• petty cash chits,
• major contracts entered into by the charity,
• employment contracts,
• work orders,
• courier slips and bills of lading,
• purchase orders, and
• bank deposit slips.

The chart of accounts is the master list of account codes (consisting of numbers and/or letters) and account names used to classify, record, budget, and report financial transactions in a general ledger.

Generally, the adjusted cost base is the amount originally paid for a property, plus the costs (such as legal fees or surveys) associated with the purchase, plus the cost of any improvements to the property.

Minutes are a written record of the matters discussed, and decisions made at a meeting. They are based on notes taken - usually by the individual designated as Secretary - and are generally presented to a subsequent meeting of the same group for approval. Once approved, a copy of the minutes is generally signed by the chair of the meeting that the minutes report on and the secretary who recorded them, to indicate their official status. Minutes should be kept as a permanent record, and are often kept in a minute book.

A pledge is a promise to make a donation in the future. It is not a gift until the charity actually receives the donation. Therefore, no receipt can be issued until the donor has fulfilled the pledge by making a donation.

See also 'Pledges' (CRA, 2011)