VOUCHER English meaning

The usage of vouchers allows the organization’s transactions to be readily managed and recorded. A payment voucher is a record of payments made by a business to suppliers for various purchase orders. Payment vouchers consist of a purchase order, shipping receipt, and invoice. They are prepared by the accounting department, which matches a supplier’s invoice with an order of purchase and the receiving report. A voucher typically contains the payee’s name, purchase amount, invoice date, and the supply’s due date. There are several types of vouchers, including payment, transfer, receipt, and supporting vouchers.

It is typically used in accounting and bookkeeping to record and validate cash payments made for various expenses, such as office supplies, utility bills, or other miscellaneous expenses. The cash voucher helps maintain accurate records of cash transactions and ensures transparency and accountability in the organization’s financial management. The government of a country can also issue the voucher which is redeemable for various programs such as school choice, housing, or social welfare initiatives. When someone wishes to take money out of the petty cash fund, they fill out a cash voucher stating the cause for the withdrawal and receive money from petty cash custodian in return. It is immediately entered in the books of accounts after it is signed. A Voucher is a document which acts as proof of a business transaction.

Translations of voucher

Non-cash or transfer vouchers (also called journal vouchers) are used to fulfill the purpose of non-cash transactions. They are used as documentary evidence, e.g., goods sold on credit. In such cases, there is not any effect noticed on the cash or bank account of the assessee. When the goods will be sold on credit, the voucher would debit the Debtor to whom the credit sale of goods is made while the sale on credit account would be credited further. The voucher, which is a cover page that explains the attached documents, includes the purchase order, shipping receipt, and the invoice. The purchase amount is added and recorded to accounts payable on the balance sheet until paid.

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Voucher

The restaurant has probably sent it to British Airways and got paid 300 pesos. You can usually buy these vouchers at retail outlets including supermarkets, small corner shops, gas filling stations, etc. However, a true linguist will inform you that although they are used today with the same meaning, technically there is a difference. The majority of people will tell you that the two terms have virtually the same meaning and can be used interchangeably. In 1590s Britain, the term first emerged in the English language with the meaning ‘guarantee to be accurate or true’. The meaning of the term – there are many – depends on the context in which it is used.

Transaction basically refers to any monetary activity which affects the financial statements and is documented as an entry in the books of accounts. It involves any kind of exchange involving money, goods, or services. But for every financial transaction taking place in business, there should be valid documentary evidence that supports each transaction. This documentary evidence supporting transactions is known as ‘Source documents’. Common examples of source documents are cash receipts, cheques, pay-in-slip, invoices, etc.

Know the Differences Between Vouchers

A voucher keeps all documents that are used to support the distribution of cash. In this sense, a voucher is an internal control because it organizes all the proper source documents that required before a check can be written. A voucher is a audit procedures 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. Voucher is a tourist guide for using services with a guarantee of payment by the agency.

Going to the spa is a great way to relax, recharge and unwind after a week of working. A spa voucher offers first-time or returning customers discounts and other additional services. It is best issued during spa grand opening or events to attract customers to try out a massage. A local restaurant orders meat and fish every few days from its vendors. The restaurant manager fills out a purchase order for 30 pounds of meat, and the owner initials the purchase order to approve the shipment. When the shipment is received, the contents of the shipment are compared with the purchase order to ensure that the shipment matches what was ordered.