Question

Write short note on the following.

Importance of Voucher.

Answer 1

Vouchers are the source documents, on the basis of which, entries are recorded in the primary books (Journal and other subsidiary books). They act as evidence and authenticate the happening of a transaction.

Importance of Voucher
The following points highlight the importance of vouchers.
1. These act as the documentary evidence of the transactions so recorded in the books.
2. They assist the auditors while auditing the books of accounts.
3. They help in maintaining records in the chronological order as per the date of occurrence.
4. They serve as a written proof of the transactions.