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Bingo voucher

A voucher example Every few days, a nearby restaurant places orders with its suppliers for meat and fish. The owner initials the purchase order after the restaurant manager completes it to authorize the shipment of 30 pounds of beef. To make sure the shipment contains everything that was bought, the contents of the cargo are compared to the purchase order when it is received. To record the transaction, the restaurant fills out a shipping receipt, which is then compared to the vendor's invoice.

The purchase order, shipping receipt, and invoice are all included in the voucher, which is a cover page that describes the documents that are attached. The purchase price is added to the balance sheet and recorded as accounts payable until it is paid. The owner meticulously reviews each and every element of the voucher before issuing a check.

The general ledger accounts used to record the transaction are also listed on the voucher. To record the payment, the restaurant, for instance, could debit the meat inventory account and credit the cash account. The payment receipt and the date are entered to show that the voucher has been paid. The decreased amount as a result of the paid invoice will show up in accounts payable if no further payables are produced.

A Voucher: Why Is It Important? The value of a voucher comes from the internal accounting control system it serves as, which guarantees that each payment is legally authorized and that the item actually purchased is received.

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