A voucher is an internal document describing and authorizing the payment of a liability to a supplier. It is most commonly used in a manual payment system, where it is part of the system of controls. A voucher typically contains the following information:
The identification number of the supplier
The amount to be paid
The date on which payment should be made
The accounts to be charged to record the liability
Any applicable early payment discount terms
An approval signature or stamp
Voucher information may be assembled into a packet, where the basic voucher document is attached to the supplier invoice, evidence of receipt, and purchase order. This packet is useful for keeping related documents in one place, and makes it easier to both justify and audit payables transactions.
A voucher is created following the receipt of an invoice from a supplier. It is stamped "paid" when a check or electronic payment is made to a supplier, and is then archived, along with any supporting documents.
If vouchers are used for all payables, their totals can be aggregated to determine the total amount of accounts payable outstanding. This function is not needed in a computerized system, where the aged payables report is used instead.