A voucher is usually prepared after a vendor's invoice has been matched with the company's purchase order and receiving report. In addition to attaching the three items to the voucher, the following information is also entered on the voucher: payee/vendor name, discount terms, the amount and date to be paid, the general ledger account numbers to be charged, and the authorizing signatures. The voucher is then recorded in the voucher register.
The unpaid vouchers provide the detail for the total amount reported as vouchers payable or accounts payable.
As a voucher's payment date comes near, the voucher is forwarded to an authorized person for payment. After making payment, a copy of the check is attached and the voucher is stamped "Paid." It is then filed in the paid voucher file in order to prevent a duplicate payment.