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The definition of a voucher is a document that entitles you to something or that serves as proof of some expense. A document granting a certain amount of money per child from public education funds is an example of a voucher. A coupon for a free sandwich is an example of a voucher.

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...

The total amount of all the vouchers that have outstanding balances owed are recorded as accounts payable on the balance sheet. Once the voucher has been paid, the proof of payment is included in the voucher and recorded as a paid voucher.

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...

In other words, a voucher is a supporting document for an invoice received by the company. Once the voucher is issued, it means that the invoice's been checked, and it's been confirmed that it needs to be paid. The voucher authorizes the payment of the invoice in one lump-sum that will be written on the balance sheet.

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.

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.