A document that serves as evidence of a business transaction is often called a Voucher. Sometimes, mistakenly taken as just a bill receipt, a voucher can actually have any form. It is not the look of it that matters (till the time it has enough information), it just needs to act as evidence of a transaction. When a transaction is entered, the evidence of that transaction is also confirmed. A voucher helps in recording expenses or a liability and further helps in its payment.
They are also called Source Documents as they help in identifying the source of a transaction. A few examples of vouchers include bill receipts, cash memos, pay-in-slips, checks, an invoice, a debit or credit note.
A Sample Copy of Voucher (Invoice)
|Client Name||xxxx||Your company’s name|
|Company Address||xxxx||Post Code|
|Invoice no.||6666||Terms||60 days|
|PO no.||3102||Payment Due By||mm/dd/yy|
What are the Different Types of Vouchers?
- Source vouchers
- Accounting vouchers
Documents which are created at the time when a business enters into a transaction are called Source Vouchers. A few examples of source vouchers include rent receipts, bill receipts at the time of cash sales, etc. They are expected to contain complete details of a transaction duly signed by the maker and act as evidence of the transaction.
This type of a voucher basically analyzes a business transaction from the accounting standpoint and is used for recording purposes. These are commonly prepared by accountants on the basis of supporting vouchers and approved by a different individual. They are further subdivided into two, cash and non cash vouchers.
Examples of cash type
- Credit vouchers
- Debit vouchers
Examples of non cash type
- Debit notes
- Credit notes