Concept of Voucher

Concept of Voucher

Voucher is basically provide a bases of transaction entry in the books of accounts. The transaction must be supported by a documentary evidence for fair and transparent accounting system.

Voucher Documents

The transaction must be supported by an voucher . The voucher is basically a documentary evidence of transaction  .A voucher is an internally generated document and prepared by the finance department. A number of supporting document may be attached to a voucher. The supporting documents vary transaction to transaction. The sales traction voucher will have different supporting document than a purchase voucher.

Voucher Numbering

 The vouchers is then issued a number and filed . There are number of organization using pre numbered voucher system in this case there is no need of numbering the voucher manually. The computer software also automatically issue a number to voucher. The number is very important for tracking the relevant voucher later on.

Voucher Authorization

The voucher is normally authorized by a senior manager of finance department before it is entered in books of accounts. The typical voucher preparation procedure contains the three level prepared by checked by and approved by.