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A debit voucher, also known as a payment voucher, is a document that proves that a monetary transaction has taken place. It indicates that the corporation has paid its suppliers and other third parties. This payment voucher can be used to make cash or bank transactions.

Once approved, the voucher is recorded in the voucher register. The voucher register takes the place of the purchases journal. The journal entry in the voucher register often includes a debit to an asset and an expense or purchases account, with a corresponding credit to vouchers payable or accounts payable.

The journal entry for a voucher in the check register comprises a debit to accounts payable and a credit to the cash account.

Requirements of a Voucher Vendor or supplier name to be paid. Terms for payment such as the amount owed, the due date, and any discounts granted by the supplier for paying the invoice early. The company's purchase order. Receipt showing that goods were received by the company from the supplier.

Payment voucher is used to record all bank and cash payments. For example, a company settles a creditor's bill by cheque.

The sales voucher is prepared to record the cash and credit sales performed in the organisation. The relevant debtor account is debited, and the sales account is credited. The sales voucher is the proof and acts as evidence of the sales transaction for goods and services in the organisation.

Debit Voucher: Debit Voucher is also known as the payment voucher. It is prepared when some payment is made by the business. Example: Goods purchased for cash, rent paid, etc. 2. Credit Voucher: It is also known as the Receipt Voucher.

Voucher is classified in three types which are as follows: Transaction Voucher. Compound Voucher. Complex voucher.