AND SOURCE DOCUMENT
-Ankit Lal Karn, ACW Accounts, Edumarz.
A business transaction is a two-way exchange of
economic consideration between parties.
For example – when you buy a mobile phone, the seller gives you a cash memo along with the mobile, and in exchange, you pay the amount.
The document which evidences the financial transaction is called the source document such as cash memo, voucher, sales bill, pay- in- slip, cheque, salary slip, etc.
It’s a give-and-take process.
Generally, petty expenses do not have an evidencing
source document.
In such a case voucher may be prepared, voucher must be signed by the authority.
Preparation of accounting voucher:-
There are various accounting vouchers such as cash vouchers, debit vouchers, credit vouchers, journal vouchers.
Accounting vouchers don’t have a prescribed format.
If it is prepared using computerized software , it must contain special code assigned
Essentials of accounting vouchers
If it’s written manually, it must be on good-quality paper.
The firm’s name must be there on the top.
The authorized person must sign the voucher.
Date must be given for the transaction.
Account wise description must be there.
The amount must be written in figures.
It must be in a serial order.