Accounts Notes: WHAT IS VOUCHER

Tuesday, 12 April 2011

WHAT IS VOUCHER

WHAT IS VOUCHER?DEFINE IT’S TYPES AND RELAVENCE ,USAGE IN ACCOUNTING ENTRIES?

ANS: Voucher is a supporting document ,it means it is evident for the transacation recorded in the books.

In general there is several types of vouchers like
 Sales vouchers
 Purchase vouchers
 Cash payments
 Cash reciepts
 Adjustment vouche

TYPE OF VOUCHER

1)SALES VOUCHER
RELAVENCE: It is primary evidence for recording amount of sales in books.

USAGE 1.It is used for crosschecking the amount in voucher with books.
2.it is used for determinig whether that voucher relates to same accounting year or not.

2)PURCHASE VOUHER

It is primary evidence for recording amount of purchases in books. 1.It is used for crosschecking the amount in voucher with books.
2.it is used for determinig whether that voucher relates to same accounting year or not.
3)CASH RECIEPTS&PAYMENTS It is evident for recording cash payments and reciepts in cash book. These vouchers place a vital role for auditing cash book balance correctnes.

4)ADJUSTMENT
VOUCHERS These are used for adjusting the wrong transactions 1.These are used for adjusting wrong issues between departments,wrong amount of vouchers are adjusted.