Voucher

Business, Legal & Accounting Glossary

Definition: Voucher


Voucher

Quick Summary of Voucher


A Voucher is a receipt for money, or any document that supports an entry in a book of accounts.




What is the dictionary definition of Voucher?

Dictionary Definition


  1. A piece of paper that entitles the holder to a discount, or that can be exchanged for goods and services.
  2. A receipt.
  3. One who or that which vouches.

Voucher FAQ's


How is a Voucher Used in Accounting?

A voucher is an internal document that describes and authorises payment to a supplier of a liability. It is most frequently utilised in manual payment systems as part of the control system. Typically, a voucher comprises the following information:

  • The supplier’s identification number
  • The sum due
  • The due date for payment
  • The accounts that will be debited in order to record the liability
  • Terms of any applicable early payment discount
  • A signature or seal of approval

Voucher information can be gathered into a packet along with the supplier invoice, proof of receipt, and purchase order. This packet is beneficial for storing related documents in one location, which simplifies the process of justifying and auditing payables transactions.

Following receipt of an invoice from a supplier, a voucher is created. When a check or electronic payment is made to a supplier, it is stamped “paid” and then preserved together with any supporting paperwork.

When all payables are recorded on vouchers, their totals can be added to get the total amount of accounts payment outstanding. This function is superfluous in a computerised system, which makes use of the ageing payables report.

When an obligation is solely accumulated, no voucher is created (which is in the absence of a supplier invoice). Additionally, vouchers are not incorporated into the payroll process.


Cite Term


To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
https://payrollheaven.com/define/voucher/
Modern Language Association (MLA):
Voucher. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
March 28, 2024 https://payrollheaven.com/define/voucher/.
Chicago Manual of Style (CMS):
Voucher. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
https://payrollheaven.com/define/voucher/ (accessed: March 28, 2024).
American Psychological Association (APA):
Voucher. PayrollHeaven.com. Retrieved March 28, 2024
, from PayrollHeaven.com website: https://payrollheaven.com/define/voucher/

Definition Sources


Definitions for Voucher are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 13th April, 2022 | 0 Views.