jn of Transactions—Source Documents and Preparation of Vouchers 73 specimen of a Receipt is as follows: MODERN ELECTRIC SUPPLIERS LTD. Dealers in Everything Electrical 131, Nowhere Street, Delhi 110 001 No.15137 i Received withthanksfrom, M/s, Meal Customer, Fine Cit asum ofRupees, ‘Twenty Seven Thousand only n CCash’Cheque No, 559891 __ dated 5.2.2022crawnon__Canara Bank, Vivek Vihar, Deli fonaccountofinvoiceNo,_ 3978 dated _3.2.2022 ‘Authorised Signatory Note: Cheques are subject to realisation. (, Pay-in-Slip tis a source document used for depositing cash or cheques into bank. Pay-in-Slip is 1 form available from a bank. It has a counterfoil which is retained by the depositor. jow-a-days, banks place a box in which cheques along with the filled pay-in-slips be dropped. In such cases, counterfoils are not signed. The counterfoil of the pay-in-slip gives details regarding the date and the amount (in cash or cheque) deposited. ‘A specimen of a Pay-in-Slip is as follows: (AXIS BANK LTD. ‘AXIS BANK LTD, Sedona NEN, a leuonsromans resomve (LTTTTTEELLEITD | |SRRSNSIR SESE aoe amc Tapco 5. Cheque Cheque is a document in writing, drawn upon the bank with which the account is held and is payable on or after the due date. The bank supplies the cheque forms. The name of the party to whom payment is to be made is written after the words ‘Pay To’. Then the amount is written—both in words and figures, A cheque is dated and signed by the drawer, The cheque details are entered on the counterfoil which remains with the account holder and is the source voucher for recording the transaction in the books of account.Double Entry Book Keeping cy, 74 A specimen of a Cheque is as follows: Ee 6. Debit Note A Debit Note is made out evidencing that a debit named in the debit note. It details the reason for make a debit note if he finds that Purchaser of goods will make a debit note if has been made to the account of the part aseller of goods wi DEBIT NOTE PROVOGUE 117, Kalkaj, New Delhi 110 019 No.215 DEBIT NOTE Date: 20th Apri, 2022, ‘Against: Ws, High & Low, New Delhi Goods returned as per delivery Challan No. 93 5.500 {Pupees Five Thousand Five Hundred Oni) Ranjit Kumar 7. Credit Note indebtedness is reduced or, ip it is alread, eamount ; ¥y settled, See Geet, Purchase goods tothe vale of credit wit : ‘able the of a Credit Note is as follows “without further payment Aspecimen ASHIGLASS co, 24, Darya Ganj, Delhi 110 002 No.212 ‘CREDIT Nore“vii of Transactions —Source Documents and Preparation of Vouchers ‘Meaning Voucher is a document evidencing a business transaction. It flows from the above definition that when a transaction is entered into, an evidence to that effect is also established. Such evidences are Source Documents. On the basis of Source Documents, f voucher detailing the accounts that are debited and credited is prepared. Types of Vouchers Vouchers may be categorised into: 1, Source Vouchers or Source Documents or Supporting Vouchers, and 2. Accounting Vouchers. 1, Source Vouchers or Source Documents or Supporting Vouchers ‘Source Vouchers or Source Documents or Supporting Vouchers are documents which ome into existence when a transaction is entered into. ‘Features of Source Voucher: (It is a written document. {i It contains complete details of the transaction. (ii) Its a proof of a transaction having taken place. (ia) Itis generally for a business transaction. (0) Itis signed by the maker. 2, Accounting Vouchers ‘An Accountant has with him source or supporting vouchers for cash payments, cash, ecvipts, invoices for credit purchases and sales. Yet, before recording in the books of feeount, these source vouchers are analysed to determine which account or accounts fre to be debited and credited, The decision is recorded on a document termed ‘Accounting Voucher’. Thus, we can say that an ‘Accounting Voucher’ is a written document containing an analysis of business transactions for accounting and recording purposes, prepared by the Accountant on the basis of supporting vouchers and signed by another authorised person. Features of Accounting Voucher: (i) Itis a written document. (ii) Itis prepared on the basis of evidence of the transaction, ie., Souree Document. (if) It is an analysis of a transaction. (iv) It is prepared and signed usually by an Accountant and countersigned by the authorised signatory. (0) In the case of cash/bank voucher, it is a receipt. Types of Accounting Vouchers Accounting Vouchers are of two types, i.e, 1. Cash Vouchers; and 2. Non-Cash Vouchers or Transfer Vouchers. Let us discuss them in detail. 1. Cash Vouchers Cash Voucher is the voucher prepared at the time of receipt or payment of cash and includes receipt and payment through cheques.——aa se ontenrenoe eee tt ede roc ve nee Sean Gee ee nk Sa SAN we a ‘Frm ana hanes ee error format ofa Ceeie (Cosh Vance given below, ted ? conten eee ere Ree an alan oben! tt; Sees Ke. = oa sah Vers ae Sete frog z sete em : oan vege ‘The CroditVouter gives the lowing information: 1, Name and Addes of the Organisation. 6, Narration, ave demon 2 Date of Preparing the Vouther. of the rasan. \ {Ante aude Noni dibe Pean grog, \ 4 Meth AeruCrtel, 8, Spaeth hase Gey 5, Amount fhe Trasattion 8. Soypoting Voucher Nanton ip Debit Vouchers Debit Vouchers are prepared when payment is wade. Payment aye wale ‘guint (a) expenses, (6) purchases of goods, () purase of Ried coe (q) payment to creditors, (deposits into bank, f) ravings, te, format ofa Debit (Cash) Vouhers given bdo: 8 ‘ DEBIT VOUCHER pe Purchases Ne oe CahWemoo,T29)—-— 235 ay ausDouble. Entry Book Keeping cy, | 76 : “iDebi Cash Vouchers can be of two types namely (i) Credit Voucher and (ti) Debit Voug,, i) Credit Vouchers : b Credit Vouchers are prepared when cash is received, Cash may be ree against (a) sales of goods, (b) sale of fixed assets, (c) en (@ receipts from debtors, (@) withdrawal from bank, ete. A format of a Credit (Cash) Voucher is given below: 2 creorrvoucnen HRY 85005 ED, | 24, Raj Chowk, New Delhi 110 01- ~ Vou : Oxe 1322022 Amount (2) Cred Sales Neve (Goods sold for ash vide BN, 500) sa Manager y ® y a ‘The Credit Voucher gives the following information: y Hime and Address of the Organisation. 6. Narration, ic, @ brief description 2. Date of Preparing the Voucher. of the transaction. 8. Accounting Voucher Number. 7. Signature of the Person preparing it. 4. Title of the Account Credited, 8. Signature of the Authorised Signatory. 5. Amount of the Transaction 9. Supporting Voucher Number, (ii) Debit Vouchers Debit Vouchers are prepared when i Payment is made. Payment may be made tpunst (@ expenses, (b) purchases of goods, (c) purchase of fixed assets, (@) payment to creditors, e) deposits into bank, (7) d lrawings, ete, A format of a Debit (Cash) Voucher is given below: 8) DEBIT VoucHER | HARRY & SONS Pj ETD, | : i 24 Rav Chowk New Delhi 110001 = || & | voucher Wo.s1 Date:13.22022 fn (2) jee “Amount [Pak [Ob ResesNe=m 70, Lent 1a > PL P| eetetinataae a tesla Cash Memo No. 726) ~~. enn semen ete 5 BF Total 10000 (5 Sita ane 34 sai Sar 51] manager Accountant >| ¥ y ¥ oy ®‘xign of Transactions—Source Documents and Preparation of Vouchers aw |\ Debit Voucher gives the following information: 1, Name and Address of the Organisation, 7. Signature of the Person preparing it. 2, Date of Preparing the Voucher. _8, Signature of the Authorised Signatory. 3, Accounting Voucher Number. 9, Supporting Voucher Number. 4, Title of the Account Debited. 10. A Document in lieu of the Supporting 5, Transaction Amount. Vouchers 6. Narration, ie., @ brief description of the transaction. 9, Non-Cash Vouchers or Transfer Vouchers ‘Non-Cash Vouchers are the vouchers prepared for transactions not involving cash. Examples of these are Invoice or Bills, Debit and Credit Notes, ete. Non-Cash Vouchers are prepared for the transactions of credit sales, credit purchases, goods returned (both inwards and outwards), rectifying the errors, ete. ‘A format of a Non-Cash Voucher is given below: 3 TRANSFERVOUCHER HARRY COPD. 1 Gol ret Ne Ba 10001 0 acer paw 1322000 —> 0 oun Taine No = a) = > tinny Purchased a etna 70 a a we aoe 7 7 ‘ b Non-Cash Voucher gives the following information: 1, Name and Address of the Organisation. 6. Narration. 2. Date of Preparing the Voucher. 7. Signature of the Person preparing it. 3. Accounting Voucher Number. 8, Signature of the Authorised Signatory. 4, Titles of the Accounts Debited and Credited. 9. Supporting Voucher Number. 5. Transaction Amount. ‘Compound Voucher Voucher which records a transaction that entals multiple debits/credits and one credit/debit is called ‘Compound Voucher. Compound Voucher may be: (a) Debit Voucher or (b) Credit Voucher. A voucher showing a transaction that contains multiple debits but one credit is called Debit Voucher. A voucher showing a transaction that contains multiple credits but one debit is called Credit Voucher.Double Entry Book Keeping, 78 PREPARATION OF VOUCHERS itself is a voucher ‘The evidence (Source Document), i.e, Cash Memo, etc., by itsel but ‘ hich the aceo practice normally, a printed paper called Voucher is prepared on w = an ‘be debited and credited along with the description (narration) of the transaction is ‘Written A specimen of a Voucher is given below: ey ‘XYZ & CO, i ae! toe | 1 bE Woucher No... ri ‘Amount elk = | | ©. [ete satonayac | § (Pens papers et, purchased from M/s. Ashok Co. in cash) 750] il as i | 8 Bl credit cashae 750 } | 33)——______. mt. & ek se |. : i 750 | sa aa Authored Signatory Accountant ‘et us now discuss the manner in which a voucher ig Prepared. The source document is establishes that the Stationery Acc “Increases in expenses are debited andbrig of Teansactions—Source Documents and Preparation of Vouchers 79 “i ‘WIS RAHUL & CO. 1 £| Yeucherta.. Date ——— Amount @) FLL [Debit Stationery Ae 1.100 Pele (Stationery purchsed on credit vide iol Bil No... dated.) 1.100 | [ered is Ashoka co. 1,100 1100 ai sa sa ae ‘Authorised Signatory Accountant Mlustration 1. Following transactions took place in Prabhat Electric Co., Delhi. Prepare the debit youchers: ma z «yJanury 1) Bought electrical goods agains cash vide Cash Memo No.338 10000 {iy January 8 a wages forthe month of Decembe 221 3000 Solution: @ 7 PRABHAT ELECTRICCO. i z Voucher No. 1 Delhi Date: 1.1.2022 H Amount || [nee Purctassne Toot | ra (let goods Purchased vide {3 ‘Cash Memo No. 338), Ton 37 sa sa 32 Manager ‘Accountant ty ar PRABHAT ELECTRICCO. LE Jveucterna2 hi bate 812002 | 3 Amount ®) (| [pene wages ave 5,000 i fa (Wages Pid for December, 2021) Weld 5000 ¢ sa si LH] ries fase210 asta BokKernece) af erecta DacanronPpne Mlustration Muctration 2 guns tkplacein Nl Ace Traders, Patna, Prepare the bit woudhe Pay |esetmnzetn fetus apa api aC eno a0 Gp iiaty 1) peptone treme ustration 8. Popa the Credit Vouchers om the suc voters of Ml a PEeBr on the following traneacions: i Ferenc [eeae per ne (Deyo (Wont ps iio: hse or ‘cove Cho asco vseconnna noorigin of Transactions—Source Documents and Preparation of Vouchers (iv) 7 (WS ACETRADERS ‘eens Date: 27.1.2022 ‘Amount Debit: Postage Ne 200 {Amount pad for Postage stamps) 200 sdl- a ee ‘Accountant Illustration 3. Prepare the Credit Vouchers from the source vouchers of M/s Ram Lal & Co., New Delhi based on the following transactions: m2 z ‘Apel 5 | Sold goods for cash vide Cash Memo No. 64 12000 ‘pri 26 | Sold ald typewriter for cash vide cash receipt No. 344 300 ‘Apri 30 | Withdvew cash from Bank for office use vide cheque No. 12349 15,000 Solution: (M/S RAM LAL& CO. New Delhi Voucher No. Date: 5.42022 ‘Amount edit: Sales Ale 12000 (Amount of Cash Sales vide Cash Memo No. 64) 12000 sae sd Manager ‘Accountant W/SRAMLAL&CO. Nouches No, Date: 264.2022 ‘Amount @) Geet Typewriter AC 300 (Old typewriter sold for Cash vide Cash Memo No. 344) 300 sw. sa Manager ‘Accountant, (eee 7 PP A eeam nts UC OOS tae ee es vide Cash Memo Wa. 317-3 wna con ie ee from the following information, cllected from su Souchers of Ms Imperial Leather Stores Ara (UP) 1 ays |r tami sn Co na ech. sna 15st pone sh ema 317-30 1 hun 2+) scones Cana Solution: o [Gar Sarg iadine Ne inten machi hea tena Toa — ag] |) Moseaion re = Prepare dhe Accounting Voucher from the fellowing supporting ¥ est ww [reac —————__ sil | RAMLRATAN SONS sna Men UPaes oat 713 Agr (UP) — er N03 Date 151 _ Amount feet. Sols Ale 15000 ‘mount of cash sales vide Cash Merno No. 317-220) 15,000 sa sal. anager ‘Accountant ————————————eeee (iv) [M/S IMPERIAL LEATHER STORES Agra (UP) oucher No. 4 Date: 24.1202 Amount @) Gredit_ Sewing Machines Ne 2500 {Tio od sewing machines sold for Cash vide Cash Memo No. 1230) 2500 sue sd anager Accountant Mlustration 5. Prepare the Accounting Voucher from the following supporting voucher: ‘RAM RATAN & SONS 32, Industral Area, Meerut (UE) Sle Bi No, 1215. Date: 104.2022 Ms Murr Lal & Sons Qy_[Partcaas Rate/Unit ®)| Amount @) 20 | cicket bats 100 2000 10 | Ful'size bat 2000_| 20000 2000 Sar Ram Ratan & Sons (Ei aa Acne Siar cn\ Solutions mana ele, 22 ek ee UP Deb Naas ear Bien oon ce ke ie N25) s nape ‘Multiple Cholee Questions (HCAs) Ste te crt tert (0 Cash memo i pepared hn rods arsed (© overt onc (0) Buch) and, (2) Now hw, (i) Cash meno i ore vate archer neds (© foreth prcnce (0) focrt prac (0 frre ae (2 raah see (Uy tore sore voter for ele ef ne (© torch ae (treet puch (0 fore (0 tcp (i vie sae onherf pucaser ge (@ ‘orca purchare (fren cae (0 for cntonbe (2 fort phases (© Accounting vue opr tom (@ sare vie. ‘0 aro eny (0 Ba) and (@ Nene (0 ttpurebane feo rar th propre (a) Con Nate (6) Dae Ret (© Bano and, (2) Nene hse. (oat recives back he dh wl prepare (@) Crt None (Dt Nae (6 a and (i) Non ft (a) Cah and Celt purses (0) Cash ose pl (Allo tvs. ctons—Souee Documenta coignelton Perea te ah Mem i © nme chen (0) itor (a 108. mice fs source voucher ar (a) Cash purchases, (both (oan (0 an serine 1 eth hande (0 Co pose (nah one osks of Account are writen on thebasit “a (o) Sour Document. Meese, (Both (30d ( Neowin i Cee Note is prepared fo) wen eet ven to the ssa, (0) whea doit ie given tothe coun, {bath (2) and (a None ofthe above, ai, When gots re sold on eo, the sella prepare, (o) Cash Memo. (0) Invi, (0. Accounting Voucher. (a) Nowe theme ai) When gods are purchased aginst cash, he puch x 1) nie. (wet ta, (@) Cash Meme, (0) Accounting Voucher. {) Tranafor vouchers are propared to nso (8) ech rect (@) cash teansactions (Ninth (o) (and 3) Credit purchase of rite record th (0) Cah voucher. (0) Transfer voucher. (@) Crt othr (0) Debi usher ans (a id (0 1 6 ay (4 "Sith the olling statements are Tr or Fle: (0 Crete Vouchers are he decumentay evden ib i) Trantor Vouchers ae prepared to rec the aah Cash Memo is prepared bythe eller wen he el Viena documentary evideeat ins eit Voucher sa document fe hing eo ie Debit Vober uchers at of to pes Aas Pl 9 Tre i Treoxign of Transactions —Source Documents and Preparation of Vouchers What is a Debit Note? Debit Note is a document evidencing that the account of the named perso for the reason stated therein, |. What is a Credit Note? . Credit Note is a document evidencing that the credit has been granted to the named person for the reason stated therein, What is a Compound Voucher? (KVS) . Voucher which records a transaction that entails multiple debits/credits and one credit/debit is called Compound Voucher. It may be debit voucher or credit voucher. 1, What is a Source Document? 2, Explain any two Source Documents §, What is a Voucher? Prepare an imaginary Specimen of Voucher. 4, Give an example of « ‘Voucher. 5, What are Accounting Vouchers? 6. Differentiate between source documents and Vouchers. (ethi) 7. What are the types of Accounting Vouchers? (MSE Chandigarh) Or ‘Name the two types of vouchers (Main Classification), PRACTICAL PROBLEMS. |. Following transactions took place in M/s Goodluck Computers. Prepare the Accounting Vouchers: E z Bought Computer Mouse (4 Nos) vide Cash Memo No. 338 6000 Wages patd forthe month of December, 2021 10000 Purchased two Desktop Computers from M/s Computech for cash vide Cash Memo No. 170, Paid cash to Hat & Sons vide receipt No, 102for repairs 11000 Paid postage 200 Cash withdrawn from bank 1 the Accounting Vouchers for the following transactions: Started busines with cash Purchased futur vide Cash Memo N, 210 ‘Opened a Bank Account in Canara Bank Purchased garments on cre from M/s Madras Sore vide Bl No. 291 Sold shirts to Ram Parkash on rect vide Bl No.1 Sold shits for cash vide Cash Memo No.1 Withdre rom bank fr ofce use by cheque No. 23301 Withdrew for personal use by cheque No. 51003118 Double Entry Book Keeping —CEsep 3. Prepare the Vouchers to be recorded in the books of Ms Computer Aids: am Jan. 1 Bough cmptes fore for cs vide Cash Me No. 512 Jn 8] Salary parte mrt of Decenbe, 2027 Jan, 10| Sl comutrforcash vie Cah Meo a 64 15 | Withee cash fom bank fr office use vide cheque No. 13456 m2 shop wor 1 Bought fume fom Mode Future cash vie Csh Mero Na 24 an. | gnenng oral ‘p aacests fests pumas oto! ssn amaling 5. Pre 2 Spend Compound J. mn ‘2 dicount and Rebate “an. 5 | Received cash kom Wahi 6 Co. on account vide cash cept Ma $87 D ntvence between Trade Diss 1m 10| Conserve coc 29 peng rl Enty 115 le perce ee 37-20 nS lacie ae 18 notions inh Parte Taner Votes in th Boks of ives Fab Haan fw antec dace te th Sur er eorcspatos ro eee aie ‘ins rsctons that can Be a ‘edscf sccount on the basis of eviden ‘omens, debit and eredit notes wh ‘nts acount are broadly divided inte ‘iris bok in which transactions #1 ‘sri, ina chronologieal order. doar. eaten ae inal rere is tansictin a the time of recoding i hin te Sauna are transered sed) A's cled Prineipal Book ofecovnt 88 fit, ——— ‘x15 po std Prabal ni N96 4in_31|xpeionhagdon bug 102000 Sean QR Code for Key Terms and Chopler Summary real and Lager are estilo comple 0 eo