What is a cash voucher

what is a cash voucher

SOURCE DOCUMENTS ISSUED PETTY CASH VOUCHERS

Any payment made must be supported by a source document. If you purchase any goods or services for cash, you should receive a till slip or other source document. If the purchases or payment was made out of the petty cash float, these source documents will be captured and posted to the ledger in the petty cash payments journal. In some businesses where a person is entrusted with petty cash, a petty cash voucher is normally written out and authorised to remove or take any money out of the petty cash float. This is important in the case where some other person is handed the money to do the purchase on behalf of the petty cashier. An example of petty cash vouchers is as follows:

When a person returns with the purchases from petty cash, a till slip will be handed to the petty cashier and needs to be attached to support the petty cash voucher. The petty cash voucher is entered in

the Petty Cash Payments Journal.

The petty cash voucher is basically a requisition form to keep track of any moneys taken from the petty cash is later supported by a supporting voucher. For example, if a purchase for R(Ј) 57 is to be made, you may hand R(Ј) 60 to a person, if you do not have sufficient change in the petty cash, to the person sent to purchase and collect the goods. When the person returns, he / she must hand a slip or supporting source document to the value of R(Ј) 57 and R(Ј) 3 change to the petty cashier. When designing a petty cash voucher, you need to look at your own requirements to note any additional information, such as the amount handed to a person, the signature, etc.

Depending on the frequency and amounts involved and the provisions in Tax legislation (Income Tax and VAT (if you are registered for VAT) or any other legislation), a petty cash voucher my not be sufficient to support expenses and Input VAT claimed.

Source: www.turbocashuk.com

Category: Bank

Similar articles: