Payment voucher is the basic record for all the payment transactions in a company or business.Hence the payment transactions need to be entered in an accounting document which is called payment voucher. The details of the payment needs to be entered in the payment voucher in an accounting format.The accounting format for entering the payment transactions is called payment voucher format. A payment voucher format should contain all the essential details of the payment. The following details should contain in the payment voucher format.
Payment voucher number
Date of payment
Details of payment.
Authority or order or reference for making payment.
Head of account for which the payment is to be made.
Amount of payment.
Name of the payee to whom the payment is to be made.
There are different type of payments.Some payments are made without any deduction. Some payments are made withholding or adjusting certain amounts and the balance amount paid to the payee. Adjustment from the payment differs single head of account or multiple head of account. It means some payments are adjusted for a single head of account and the balance amount paid. Some payments are adjusted for multiple head of accounts and balance amount paid to payee. Multiple head of account payments are mostly relates to salary payments. Salary payments will contain both payments as well as adjustments from the payment.
