Voucher
Definition
A document that supports and authorises an accounting entry, such as a payment or receipt voucher. Vouchers provide the evidence trail behind the figures recorded in the books.
Related Terms in Core Accounting
Cash Book
A book of original entry recording all cash and bank receipts and payments. It doubles as both a journal and a ledger account for cash, and its balance should reconcile to the bank statement.
Day Book
A book of prime entry where transactions of a particular type — sales, purchases, returns — are first listed in date order before being posted to the ledger. It keeps the ledger uncluttered.
Trade Discount
A reduction off the list price given to a buyer, usually for volume or trade status, deducted before the invoice is raised. It is not recorded separately in the books because the invoice is already net of it.
Cash Discount
A reduction offered to a customer for paying within a set time. Unlike a trade discount, it is recorded in the books because it affects the amount actually received against the invoiced total.
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