Voucher

A voucher is a document used in accounting to record and authorize a payable liability or expense. It serves as a supporting record for invoices, payments, or receipts, specifying the amount owed and the purpose of the payment. Vouchers help maintain accurate financial records and can also take the form of redeemable coupons for goods or services.

Example: A company receives an invoice of ₹50,000 for office supplies. The accounts department creates a voucher detailing the supplier, amount payable, and purpose of the expense. This voucher acts as a record to process the payment. Additionally, a store may issue a ₹500 gift voucher, which customers can redeem for products, functioning as a commercial voucher.