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A voucher is a document that shows the details of a transaction for any goods that have been purchased or any service that has been rendered. It can be said to be a written document that supports the entries made in the record books that helps in verifying the accuracy of the transactions.

A transfer voucher is a document used to record the transfer of goods or services from one account to another. It is prepared for various purposes such as cash purchase, payment of salary for cash, purchase return and sales return, and cash sale.

Answer: A cash voucher is prepared at the time of receiving or paying cash or a cheque. The vouchers prepared at the time of receiving cash are known as credit vouchers. On the other hand, a debit voucher is prepared for the payment of cash.

A transaction is a business event having a monetary value on the financial statements of a business. It is recorded in the accounting records of the business. It is an event which involves some value between two or more entities.

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.

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

Non-Cash or Transfer voucher (Journal voucher) Non-Cash Vouchers are vouchers prepared to support non-cash transactions such as credit sales of investments, credit sales of fixed assets, credit purchases of goods, depreciation, and return inward or outward.

Difference Between Source Document and Voucher: Source documents are original records of a transaction, like invoices or receipts, while vouchers are summaries or approvals of those transactions, often used in accounting to validate and track expenses.