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.
