Voucher Check

What Is a Voucher Check?

A voucher check is a combination of a check and a voucher, otherwise called "remittance exhortation," which incorporates relevant information about the parties to the transaction and subsequently makes an auditable paper trail about that check's payment.

Understanding Voucher Checks

The voucher check makes a paper trail for the payment by the issuer of the check. The beneficiary of the voucher check withdraws one voucher part and holds it for record-keeping before cashing the check. The issuer holds the other voucher portion.

Voucher checks that are utilized in modernized accounting systems have three parts that together fit on standard-sized sheets of paper for usability in printers. The checks are typically business measured — longer than a standard check yet with a similar width. One part is the check and the other two parts are the vouchers for the payee and issuer for their individual records. Holes make the various segments simple to separate.

A voucher is a document utilized by an organization's accounts payable department to gather and file every one of the supporting documents expected to endorse and follow the payment of a liability. A voucher is basically the backup documents for accounts payable, invoicing, or payroll. (Accounts payable are the short-term bills owed by companies to sellers and providers.) The voucher is important on the grounds that it is an internal accounting control mechanism that guarantees that each payment is appropriately authorized and that the goods or services purchased are really received.

Who Uses Voucher Checks?

Voucher checks are commonly utilized by an organization's payroll department and are alluded to as payroll checks. The voucher will contain a voucher number, name of the payee, date, amount (gross and net if any deductions), marks, and any update notes that should be recorded. For payroll, even however direct deposit is progressively turning into the standard for paying employees, having a paper trail back-up is a common practice.

Vendors likewise use voucher checks. In this occurrence, a voucher check is issued when a invoice is matched with a purchase order and documentation that the order was filled. What's more, for the accounts payable department, having a file of voucher records of payments to sellers is useful in settling payment debates and in getting ready books for internal month-end closings.

Features

• A voucher check is a form of official payment that makes an audit trail about that check's payment subtleties.
• Voucher checks have three parts: the check, a voucher for the payee, and a voucher for the issuer. Before modernized payroll, these would come as three punctured things from a standardized paper sheet.
• Voucher checks are commonly utilized by an organization's payroll department and might be alluded to as payroll checks in that unique circumstance.