What is a Voucher?
A voucher is a document that acts as a proof of statement for accounting transactions. Basically, it is a statement that shows goods or services purchased, services provided, authorizing the payment, and adding in the ledger account where all the transactions get recorded.
What is a Credit Voucher?
A credit Voucher is a document that records accounting transactions and contains monetary value including cash payments when payment is made. Basically, it is a voucher that records a cash or cheque payment. The credit voucher is also known as ‘Receipt Voucher’. Credit or Receipt Voucher is of two types;
- Bank credit/receipt voucher – It represents receipt of cash in hand.
- Cash credit/receipt voucher- It represents receipt of cheque or DD (demand draft).
Types of Vouchers in Accounting:
- Debit / Payment Voucher
- Credit / Receipt Voucher
- Supporting Voucher
- Non-cash Voucher