A payment voucher is the basic financial accounting record for the payment transactions in a company or organizations.All the payments that are made in a company or organization or business should be paid only through this format.
All the payment details like to whom the payment has to be made, what is the head of account under which the payment is to be made, authority for making the payment, purpose for the payment is to be made should be available in the payment voucher. Payment vouchers are normally printed in a format containing with the above details.
Payment vouchers are numbered right from the beginning of the financial year and end at the end of the financial year. No payment voucher number is carried forward to next financial year. Since payment vouchers are the source record for payment transactions it should be preserved for auditing purpose also.
Payment vouchers are also becoming the feed record or entry for other books of accounts mainly like cashbook and general ledger.
