What Is A Payment Voucher?


7 Answers

James Kent Profile
James Kent answered
It depends on the context in which you are asking this question as there are different types of payment vouchers. Therefore, in order to give a more specific answer you would need to divulge further information. Generally though, a payment voucher is a piece of paper that can be used to provide documentary evidence that a financial transaction has been carried out between two parties.

A payment voucher can be a method of payment for services or goods. It is used instead of cash, a credit/debit card or a check payment. A payment voucher can also be like a type of receipt or recorded proof that a payment has been made (just like a check stub).This may be printed out when an electronic payment has been made, for example via bank transfer, and then kept as a backing document.

In a bookkeeping context, a payment voucher can be used as a way of indicating bills or invoices that have been approved for payment, but the payment has not yet been completed.  The voucher is filled out and then attached to the bills that will be paid by the accounts department after a decision has been made regarding when and how each of the payments need to be made. Issues such as due date, discounts and cash flow will determine this outcome.

A payment voucher may also be used on a system called Oracle. Through this system, all payment vouchers (i.e. Money owed and paid to other departments or companies) are submitted and then processed. The payments that are issued are known as ‘demand payments.’ The system of paying and sending money to different companies can be updated on a regular basis to adapt to the circumstances; if new vendors are acquired or older vendors are dropped for instance.
Anonymous Profile
Anonymous answered
Cash payment voucher:
To pay cash directly against voucher is called cash payment voucher
Anonymous Profile
Anonymous answered
Importance of payment voucher
Anonymous Profile
Anonymous answered
To whom may concerned.  I, Adam  Akin  did not get my payment voucher before the 15th of the August. So I need to find out what happen why not mailed. My e-mail address is [email protected] Net. I appreciate getting to me. My Provider number 722516. Thank You.
Stuti Ahuja Profile
Stuti Ahuja answered
Payment voucher is a method by which different departments demand payment from people. There is an integrated system, called Oracle, through which all the payment vouchers are submitted and processed. It is this integrated system in all departments of the procurement services which issues payment. These payments are called "demand payments". When commodities are directly purchased by the procurement department, they are eligible for a demand payment up to a specific limit if the purchase is eligible in the Goods and Services procurement guide.

The integrated system has a supplier list and the name of the payee should be available on that supplier list in order to issue a payment voucher to him. The person responsible for issuing the payment voucher may have to add the name of the supplier as a new "vendor" if the suppliers name is not already available.
Janet Waston Waston Profile
Janet Waston Waston , Janet Waston is an accounting professional, she has expertise in hosting quickbooks hosting and she also consults about the benefits of Quic, answered

In the business organization where the cash and bank payment transactions are very limited, a single type of payment voucher is sufficient for all type of payments but it is not possible with big organizations to make a single type of payment voucher for all type of payment transactions keeping in view the number of payment transactions.  In that case,  two types of payment...

1. Cash Payment Voucher

2. Bank Payment Voucher

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