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How is a voucher used in accounts payable?

Author:
Harold Averkamp, CPA, MBA

Definition of Voucher

A voucher is often a prenumbered form used in the accounts payable department to standardize and enhance a company’s internal control over payments to its vendors and service providers.

Example of a Voucher

You could think of the voucher used in accounts payable as a cover sheet to which necessary supporting documents and approvals are attached. Some of the supporting documents include:

  • The vendor’s invoice
  • The company’s purchase order
  • The company’s receiving report
  • Payee/vendor name
  • Discount terms
  • Amount and date to be paid
  • General ledger account numbers to be charged
  • 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.

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About the Author

Harold Averkamp

For the past 52 years, Harold Averkamp (CPA, MBA) has
worked as an accounting supervisor, manager, consultant, university instructor, and innovator in teaching accounting online. He is the sole author of all the materials on AccountingCoach.com.

Learn More About Harold

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