Vouching

Accounting Entries 1382 views 4 replies

Please tell me about vouching...

What is the procedure of Vouching...different kinds of Vochers...the supporting documents needed for a proper voucher..and the leagalities...
 

Thanks

Replies (4)

Vouching is d essence of Auditing...

While vouching u jst need to keep in find the following details:

--Voucher must belong to the entity for which d audit is being done.

 -- The date on the voucher must be of the period under audit.

-- Vouchers to be serially numbered.

-- Vouchers to be dully authorized.

-- A/c head to which the exp of the voucher is debited should be correct

-- The exp for which the vouches is made is concerned with the activity of the business.

-- Calculation of the amt in voucher

-- Amt in words and fig should be d same.

 

I feel these are the essential things to be checked while vouching...

as per iam considered simply we are checking the genuinity of  vouchers  submited for auditing.and iam agreing with kirti. voucher kinds   depends according to needs of entity

Thanks...Actually i am expecting views of some Accountants

 

1.       Different kinds of vouchers

a)      Cash voucher

b)      Bank voucher

c)       Purchase Journal voucher (PJV)

d)      Subcontract Journal voucher (SJV)

e)      Journal Voucher (JV)

 

2.       Supporting document shall be such that it proves the existence of the transaction. In other words, it is to prove it is not a Bogus but is an actual transaction.

 

3.       As far as legality w.r.t. Income tax Act is concerned, if we do not have proper supporting document, the expenditure can be disallowed as Un-explained expenditure.

 

4.       If you have any specific query, then kindly give details about that.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
19 May 2026
Accountant

ca kunjan

Mumbai

CA Inter

View Details
Company
16 June 2026
Sr. Associate / Assistant Manager | TAS / FDD

Boutique Investment Bank & Transaction Advisory Firm

Gurgaon

CA

View Details
Company
23 May 2026
Article Assistant

Geeta Manchanda & CO.

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 08 June 2026
Internal & Taxation Article

O P Bagla & Co LLP

New Delhi

CA Inter

View Details
Company
04 June 2026
Semi Qualified CA

Goyal Puneet & Associates

New Delhi

CA Final

View Details
Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
29 May 2026
Finance Head

Bhawar Sales Corporation

Chennai

Graduate (Any)

View Details