Voucher

Voucher

Meaning

Documentary evidence in support of any business transaction is called as a Voucher. It may be a receipt, invoice, bill, cash memo, bank pay-in-slip, counterfoil of a cheque, correspondences, agreements, resolutions passed in the meeting etc. Voucher gives information about the nature and source of the transaction, its value and authority. It substantiates the entries in the book of accounts and confirms the genuiness of the transaction. All vouchers relating to the business transactions should be carefully preserved and properly filed.

Types of Voucher

There are two types of Voucher. They are -

1. Primary Voucher

2. Collateral Voucher

1. Primary Voucher: Primary voucher refers to the written evidence in original. Examples of primary voucher are purchase invoice, cash memo, bills, confirmation of balances, bank statements, contracts, etc.

2. Collateral Voucher: When the original voucher is not available, copies thereof are produced in support or as subsidiary to remove suspicion and to satisfy the auditor, such a voucher is known as Collateral Voucher. Examples of collateral voucher are copies of sales invoice, receipts, copy of resolution passed in a meeting etc.

Examples of Vouchers

The following are some of the examples of vouchers.

Cash Receipts: Vouchers regarding cash receipts include - carbon copies of receipts, contracts, minutes, correspondences, counterfoils, etc.

Cash Payments: Vouchers in connection with cash payments include - invoices, bills, demand notes, wage sheets, salary register, counterfoils, agreements etc.

Purchases: Invoices, Goods inward book, Copies of orders placed, Correspondence, etc. can be cited as examples of vouchers for purchases.

Sales: Copies of invoice, Orders received, Goods Outward Book, Correspondence, etc., are some of the examples of vouchers related to sales.