ACCOUNTS VOUCHER & TYPES

ACCOUNTS VOUCHER

Accounts voucher is the primary document in which the complete details of accounting transaction are recorded like:

·      Payment of salary to employees.

·      Withdrawal of cash from Bank Account.

You make an accounts voucher when you receive or pay money. But there are many instances of non cash business transaction that requires a voucher entry, like:

·      Credit sale

·      Provision of depreciation for fixed assets

·      Appropriation of profit to Partner’s Capital Accounts.

TALLY ACCOUNTS VOUCHER TYPES

As per classic accounting principle, all accounting transactions may be entered in journal voucher. In fact, in old days, people used only one day book called Journal to record all transactions, cash or non-cash but for sake of convenience, various types of vouchers have evolved, according to nature of transactions.

The following are the basic voucher types, considered essential by all kinds of business, irrespective of its nature, size or book keeping methods:-

·      Contra: To record transfer of funds between Cash & Bank Accounts.

·      Receipt: To record receipts of money by cash, cheque, bank transfers, etc.

·      Payment: To record payments of money by cash, cheque, bank transfers, etc.

·      Journal: To record all non cash transactions (all accounting transactions not involving any cash or bank ledger).

·      Sales: To record transactions of sales of goods on credit.

·      Purchase: To record transactions of purchase of goods on credit.