Vouching

1389 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.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
12 June 2026
Accounts & Taxation Executive

Winshine Financial Services

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 07 July 2026
Articleship

Jawahar and Associates Chartered Accountants

Hyderabad

CA Inter

View Details
Company
05 July 2026
Financial Controller

NovumLake Partners

Mumbai

CA

View Details
Company
ARTICLESHIP 27 June 2026
Article

SNCO

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 28 June 2026
Article Assistant

Sharma Chetan And Company

Gurgaon

CA Inter

View Details
Company
ARTICLESHIP 30 June 2026
Taxation Content Writer Intern

Interactive Media Pvt Ltd.

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 20 June 2026
Articleship

RB KESHRI & CO

Mumbai

B.Com

View Details
Company
29 June 2026
Accountant (Finance & Compliance)

TRIEYEZ

Kolkata

CA

View Details