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Different types of accounting vouchers

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An accounting voucher is a document that provides details about an invoice and the associated transactions. It contains information such as the date the invoice was received, the amount paid, and the name and address of the person to whom payment was made. Accounting vouchers are sometimes used in place of expense reports to provide more detailed information about payments made by businesses. The purpose of an accounting voucher is to provide information on potential income and expenses as well as any cash flow. A typical accounting voucher includes information such as:

  • The name of the company
  • The date when it was created
  • The name and address of the person who created it
  • A description of what it comprises
  • A description of its content

1. Payment voucher

The payment voucher is used for the purpose of documentation, billing and accounting. It is also called an Invoice or bill. A Payment Voucher is a document that records the details of a payment from one party to another. It provides information on the nature of the transaction, such as the date received, the amount received, the type of account and other relevant details. While preparing a payment voucher tally ledger can be extremely useful since it will get you all the information you need.

It may be issued on request by a customer for recording payments made for goods or services obtained from them. It can be used by both parties in case of disputes during the transaction process. It helps to track payments and remittances made by customers to suppliers or other parties on behalf of their customers in order to ensure proper financial management.

2. Credit note voucher

Credit notes are issued by suppliers to the client when they have received payment from the client. The credit note voucher is issued by the supplier to the client as a receipt of payment from the client. The credit note voucher can be issued in place of cash or bank transfer for payment for services rendered.

The credit note voucher is a document that records the details of a customer’s order and its payment. It is required to be maintained in the books of accounts. The credit note voucher should also be signed by the customer, as well as the person who accepted the order.

3. Debit note voucher

The debit note voucher is issued by clients to suppliers when they have received payment from suppliers. The debit note voucher is issued by suppliers to clients as a receipt of payment from clients. The debit note can be issued in place of cash or bank transfer for payments made on accounts payable.

A debit note voucher is also used to record details about an invoice, but this time it records how much money has been paid for it. It does not require signatures because no customers are involved in this transaction.

4. Journal voucher

Journal vouchers are used to record transactions that have not yet been entered into the books but are being prepared for entry. These vouchers can also be used for correcting or amending previously entered transactions if necessary. Journal vouchers must be submitted with a preliminary balance sheet and will require additional information regarding the transaction as it is completed and entered into the general journal account.

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5. Inventory voucher

This type of voucher is extremely useful when goods or stocks are moved between different locations. It records the receipt or issue of these goods while they are transferred between other locations. These are extremely useful which is probably why inventory vouchers in tally and other accounting software are so popularly used.

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