vouching
suraj kumbhare (5 Points)
27 June 2018
what is purchase vouching. It is necessary to vouching the purchase bill during year.
2 Replies
Jatin
(Accountant)
(3479 Points)
Replied 27 June 2018
When you purchased goods, purchase voucher is prepared for entry in accounting system
CA Amrita Chattopadhyay
(Audit & Assurance)
(13459 Points)
Replied 03 July 2018
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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