Turnaround document definition
/What is a Turnaround Document?
A turnaround document is a computer-generated form that is sent to a third party, who is supposed to fill in the document and return it to the issuer. The information on the form is then used as the basis for data entry back into the computer system.
Example of a Turnaround Document
For example, an invoice is sent to a customer with a detachable section that the customer is supposed to fill in with the amount of his payment and then return along with the payment. This detachable section identifies the customer, thereby making it easier for the company’s data entry staff to log the cash receipt against the correct customer. Otherwise, there would be a risk of entering the payment into the account of a different customer.