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A voucher system is a method for authorizing the disbursement of cash. A voucher is filled out that identifies what is to be paid for, the amount to be paid, and the account number to be charged. Once this voucher is approved, the disbursement system is authorized to issue payment.

A voucher is a bond of the redeemable transaction type which is worth a certain monetary value and which may be spent only for specific reasons or on specific goods. Examples include housing, travel, and food vouchers.

Payment voucher is used to record all bank and cash payments. For example, a company settles a creditor's bill by cheque. Go to Gateway of Tally > Accounting Vouchers > F5: Payment .

Types of Vouchers Debit or Payment voucher. Credit or Receipt voucher. Supporting voucher. Non-Cash or Transfer voucher (Journal voucher)

A voucher is a form that includes all of the supporting documents showing the money owed and any payments to a supplier or vendor for an outstanding payable. The voucher and the necessary documents are recorded in the voucher register.

Any documentary evidence supporting the entries recorded in the books of accounts, establishing the arithmetic accuracy of the transaction, may also be referred to as a voucher for example, a bill, invoice, receipt, salary and wages sheet.

Any written documentation supporting the entries reported in the account books, indicating the transaction's accounting accuracy, can be referred to as a voucher. For example, a bill, invoice, receipt, salary and wages sheet, pay-in-slip counterfoil, cheque book counterfoil, or trust deed.

A voucher system is a system that approves and authorizes the disbursement of payment at a particular company. The main features of a voucher system are the product or service to be paid for, the amount payable, and the account to which it is payable.

Definition of voucher system : a system of accounting in which a voucher (as for an account payable) is prepared usually with supporting documents attached for each transaction or a series of transactions affecting a single account and when approved is entered in a voucher register.

Types of vouchers Explained (1) Receipt voucher- It is also called a credit voucher.(2) Payment voucher- It is also called a debit voucher.(3) Journal voucher- A journal voucher is also called a non-cash voucher or transfer voucher.