by A voucher is an accounting document used by a company’s accounts payable department to gather and file all of the supporting documents needed to approve the payment of a liability. The voucher is an internal accounting control, which ensures that every payment is properly authorized.
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.
These vouchers are prepared on the basis of supporting vouchers by the accountant of the company and which are countersigned by an authorized signatory. As soon as it is signed the same is recorded in the books of accounts. A document that serves as evidence of a business transaction is called a Voucher. Sometimes, mistakenly taken as just a bill receipt, a voucher can actually have any form.
Types of Vouchers
(i) Receipt Voucher:
A Receipt voucher is used to record cash or bank receipt. Receipt vouchers are of two types which are as follows:
(a) Cash receipt voucher: It denotes receipt of cash in hand.
(b) Bank receipt voucher: It indicates receipt of a cheque or demand draft i.e., money is not received in the form of cash in hand, instead, the money will be credited to the bank account of the assessee.
(ii) Payment Voucher:
A payment voucher is just the opposite of a cash voucher. In the above, cash/ bank was debited, while in this case, cash or bank will be credited. In the above case, there was an inflow of funds, while in this case, there is an outflow of funds. A Payment voucher is used to record a payment of cash or cheque. Payment vouchers are also of two types which are:
(a) Cash Payment voucher: it denotes payment of cash.
(b) Bank Payment voucher: it indicates payment by cheque or demand draft i.e. money is not paid in the form of cash in hand, instead, the money will be debited from the bank account of the assessee.
(iii) Non-Cash or Transfer Voucher or Journal Voucher:
These vouchers are used for non-cash transactions, they are basically used as documentary evidence. e.g., Goods sold on credit. In such cases, the cash or the bank account of the assessee is unaffected. In the case of Goods sold on credit, the Voucher would debit the Debtor to whom the goods are sold on credit, while sales on credit account would be credited further.
(iv) Supporting Vouchers:
These vouchers are the documentary evidence of transactions that have happened. For example, you can attach the bill of an expense along with the original voucher just to further support the primary voucher. Petrol Bills attached with the conveyance vouchers are a good example of Supporting Vouchers.
Voucher in Tally:
There are numerous types of accounting voucher in Tally ERP 9 which help in executing various important accounting tasks. Here, we have listed the accounting voucher in Tally examples:
Purchase Voucher in Tally
Like sales vouchers, purchase voucher belongs to the accounting category and is available in both invoice and voucher formats. Editing and modifying receipt entries in Tally are easy, as its voucher format helps accountants to do so quickly. Moreover, Tally also helps in converting a purchase voucher in the invoice format to the voucher format.
Sales Voucher in Tally
Sales voucher is one of the most used accounting vouchers in Tally. Users can create this voucher in two different formats; as an invoice, or as a voucher. The invoice format enables users to print a copy of invoices for customers. The voucher format can be used to store transactional records electronically and it doesn’t need a paper copy for the customer.
Payment Voucher in Tally
The payment voucher is another accounting voucher in Tally that helps create and print cheques against the order. Once the payment voucher gets passed, the corresponding cheque can be printed by clicking on ‘banking’ and then on ‘cheque printing’.
Contra Voucher in Tally
Contra vouchers are used to withdraw or deposit money in banks with the help of instruments such as cheques/ATM/DD or e-transfer to another account through NEFT/IMPS. With the help of contra vouchers in Tally, accountants can also generate deposit slips for recordkeeping.
Tally also provides exact currency denominations to monitor and print the deposit slip while also depositing the amount.
Receipt Voucher in Tally
When accountants make a receipt voucher in Tally, all the invoices which have pending payments pop up as a reminder. As soon as the client makes the payment through any mode, the receipt can be updated with the payment method details. In addition, all the details of this receipt can be sent to the customer. Thus, receipt vouchers make payment monitoring easy.
Journal Voucher in Tally
Unlike other vouchers, a journal voucher in Tally can come under the roof of both accounting and inventory vouchers. There are multiple uses of a journal voucher in Tally depending on the type of business it is being used for.
It can be found as an optional voucher in Tally to make sales and purchase by accountants. Professionals can also use it for the adjustment or transferring of stock from one warehouse to the other.
Debit Note Voucher in Tally
Debit note voucher is one of the most-used types of voucher in Tally ERP 9, that is used for managing purchase returns. With the help of this, accountants can generate a debit note for invoicing as well as a voucher. Like credit note voucher in Tally, debit note too can easily be configured by pressing F11 and configuring it manually.
Credit Note Voucher in Tally
Credit note voucher in Tally has to be enabled manually. It is usually enabled by pressing F11 and they manually configuring its features. Credit note can also be passed by checking the original invoice. When a client is selected, Tally shows the transaction invoice history that have been raised.
