Types of Vouchers

What Are Types / Kinds Of Vouchers In Accounting?

In an accounting system, Voucher plays an important role for a company’s business as it improves its internal control system. It is used for internal records as well as supporting evidence of a Business Transaction.

There are two main types / kinds of vouchers:

(1) Primary Vouchers or Accounting Vouchers

(2) Secondary Voucher or Supporting Vouchers

(1) Primary Vouchers / Accounting Vouchers

These vouchers are prepared by the accountants on the basis of supporting vouchers and these vouchers are countersigned by an authorized signatory. From these vouchers, Books of Accounts are prepared.

Primary Vouchers are further divided into two types:

(a) Cash Voucher

These are prepared for cash business transactions, i.e., for cash payments and cash receipts

Cash voucher is further divided into two types based on the cash receipts and cash payments:

(i) Debit Voucher

These vouchers are prepared for cash payments transactions only. Examples are wages paid to workers, Salaries paid to employees, cash paid to suppliers, etc.

(ii) Credit Voucher

These are issued for cash receipts only. For Example, goods sold for cash, cash received from customers, etc.

(b) Non-Cash Voucher / Transfer Voucher

These vouchers are issued for credit business transactions. Example of these transactions include goods sold on credit, purchases goods from suppliers on account, etc.

(2) Secondary Voucher or Supporting Vouchers

These vouchers support the original, main or primary vouchers and acts as an additional evidence in the happening of a business transaction such as in case of a transportation bill that is a supporting document which is attached as an additional proof with the original travelling expenses document.

Examples Of Vouchers Types

There are other different vouchers, which are derived from these two types of vouchers, which are also prepared depending upon the particular type of industry in which a business is operating.

Examples are Cash Vouchers which are issued for cash payment transactions. A Receipt Voucher which is prepared when there is a cash receipt transaction, Payment Voucher is prepared for making payments to suppliers, employees, Transportation Bill which is a supporting voucher, etc.