3.1.1 Preparation of Accounting Vouchers

. . Preparation of Accounting Vouchers Accounting vouchers may be classified as cash vouchers, debit vouchers, credit vouchers, journal vouchers, etc. There is no set format of accounting vouchers.

A specimen of a simple transaction voucher is used in practice is shown in figure . . These must be preserved in any case till the audit of the accounts and tax assessments for the relevant period are completed. Now a days, accounting is computerised and the necessary accounting vouchers showing the code number and name of the accounts to be debited and credited are prepared for the purpose of necessary recording of transactions.

A transaction with one debit and one credit is a simple transaction and the accounting vouchers prepared for such transaction is known as Transaction Voucher, the format of which is shown in figure . . Voucher which records a transaction that entails multiple debits/credits and one credit/debit is called compound voucher.