Understanding Vouchers in Auditing: A Comprehensive Guide
Learn about primary and collateral vouchers, examples of different types of vouchers like cash receipts, cash payments, purchases, and sales, and their importance in auditing processes. Images and descriptions provided for better understanding.
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AUDITING JAHANAVI DEO DEPARTMENT OF COMMERCE M.L ARYA COLLEGE,KASBA
Types of Voucher 1. Primary Voucher 2. Collateral Voucher
1. Primary Voucher: Primary voucher refers to the written evidence in original. Examples of primary voucher are purchase invoice, cash memo, bills, confirmation of balances, bank statements, contracts, etc.
2. Collateral Voucher: When the original voucher is not available, copies thereof are produced in support or as subsidiary to remove suspicion and to satisfy the auditor, such a voucher is known as Collateral Voucher. Examples of collateral voucher are copies of sales invoice, receipts, copy of resolution passed in a meeting etc.
Examples of Vouchers Cash Receipts: Vouchers regarding cash receipts include - carbon copies of receipts, contracts, minutes, correspondences, counterfoils, etc. Cash Payments: Vouchers in connection with cash payments include - invoices, bills, demand notes, wage sheets, salary register, counterfoils, agreements etc.
Purchases: Invoices, Goods inward book, Copies of orders placed, Correspondence, etc. can be cited as examples of vouchers for purchases. Sales: Copies of invoice, Orders received, Goods Outward Book, Correspondence, etc., are some of the examples of vouchers related to sales.
