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The payment voucher must be serially numbered. Amount should be written both in figures and words. Proper account heads should be debited. Cash account should be credited if the payment is made by cash.

Create a Payment Voucher with Voucher Class for Employee PaymentsGo to Gateway of Tally > Accounts Info. >Select Payment from the List of Voucher Types .Enter Employee Payments in Name of Class .Press Enter and the Voucher Type Class screen will appear as shown below:More items...

A payment voucher is a way to record payments made to suppliers and maintain a history of payments that your business has made.Vouchers are used by accounts payable (short-term bills owed by companies to suppliers), invoicing and payroll.

How Vouchers WorkThe invoice received from the supplier.The data of the supplier to be paid (name, address, telephone number)The data for the payment (amount due, including a possible discount and due date for the payment)More items...

The preparation of vouchers includes various supporting documents, which are as follows:The invoice that the supplier receives from the firm.The details of the supplier like name, address and contact number.The details of the payment like the amount, discounts or the due date of payment.More items...

Example payment voucher process Essentially, a company orders inventory from a vendor and the company manager fills out a purchase order.The company can debit the inventory account and credit the cash account to record the payment.

The preparation of vouchers includes various supporting documents, which are as follows:The invoice that the supplier receives from the firm.The details of the supplier like name, address and contact number.The details of the payment like the amount, discounts or the due date of payment.More items...