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In: Accounting

Present in your own words by taking a company as a sample study with regard to...

Present in your own words by taking a company as a sample study with regard to Voucher & Non-Voucher in Invoice processing?

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Expert Solution

A voucher is an internal document used by a company's accounts payable department in order to collect and organize the necessary documentation and approvals before paying a vendor's invoice. The voucher acts as a cover page to which the following will be attached: vendor's invoice, company's purchase order, company's receiving report, and other information needed to further process the vendor's invoice for payment

Non Vouchers are similar to Vouchers in that they tie together the supplier, invoice date, invoice amount, line items, and accounting information for individual supplier invoices. Non Vouchers differ from Vouchers as there is no need for a purchase order number to be created or used to complete the transaction

Non-vouchers are vouchers that can only be exchanged for goods or services, not cash, e.g. M&S vouchers. Your liability depends on how active your involvement is in facilitating or arranging their payment to your employees

In general, A Non Voucher should only be used when needed products/services.


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