Voucher in Accounting Example, Template, Types, PDF, etc

They are authentic documentary proof for the financial transaction. There are nu merous Accounting vouchers such as cheque book counterfoil, pay-in-slip counterfoil, wages, and salary sheet, receipt, invoice, bills, and many more used by an organisation. To be precise, one can say that any written document in support of the accounting entries in the books of account to indicate the accuracy of the transaction is said to be a voucher. The voucher will be sent to the owner, who reviews everything to make sure that all the information is accurate, and then the payment will be approved. Afterward, the transaction is closed, and the voucher will be registered as a paid voucher in the balance sheet. The first type (payment due) is registered on the balance sheet as accounts payable.

A supporting voucher is written evidence of the transactions that happened in the past. For instance, you can attach the expense bill with the original voucher to support the main voucher. A good example of such a supporting voucher is the fuel bills that are attached with the transportation vouchers. Since you have now understood the vouchers meaning in accounting, let’s through some light on the different types of vouchers.

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• A Vouchers in accounting are a formal written document that is prepared for the buyer as proof of goods or services that have been purchased from the supplier.
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• When the voucher has been approved the payment, a check or alternative method of payment, is drawn up and details of the check number and date are recorded in the voucher register.
• For instance, when the goods are sold on credit and there is no immediate cash or bank transaction, the journal voucher is prepared for such a transaction.

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(iii) Non Cash Or Transfer Voucher or Journal Voucher:

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Vouchers in accounting perform as a witness for the accounts payable department for future due payments to the suppliers and creditors. It is an inside procedure of the company that is done under the insights of the company. The payment voucher also contains the general ledger accounts used when recording the transaction. The company can debit the inventory account and credit the cash account to record the payment. Receipt of payment and date will be recorded to illustrate the fact the voucher is paid. The accounts payable department will record the lower balance due to the invoice having been paid.

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What are the various types of Vouchers?

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