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vouching
what is purchase vouching. It is necessary to vouching the purchase bill during year.
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When you purchased goods, purchase voucher is prepared for entry in accounting system
Purchase vouching includes a three way check. You need to check whether the purchase was authorized through issue of Purchase order, whether the material was received or not by Goods Received Notes, whether the payment is made as per the terms and conditions mentioned in the purchase order (specially check the amount, and the credit period)
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