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 What is Receipt Voucher?

Generally, when the payment is made to the supplier or any expense is paid, then the accountant of any company prepares payment voucher. But whenever the company receives a certain amount for goods sold or commission in the form of a bank cheque, the accountant of the company writes details of the payment received on the backside of counterfoil of bank deposit slip before depositing the cheque. The accountant can’t write information in detail on the back of the counterfoil due to lack of space. Instead of that, if the company starts the policy of maintaining receipt vouchers, then the accountant can write the information of payment received in detail on the receipt voucher. This reduces the major headache of the auditor at the time auditing.

After receiving the amount from customers for goods sold, the accountant can prepare a receipt voucher and write details like customer name, bill number, cheque number and the name of the bank in receipt voucher. A separate file can be maintained for these vouchers.

Useful in online transactions

Nowadays, the majority of the payments are received through online process. In this type, the amount is directly credited in the bank account and there is no record available for payment received. In such case, if the accountant prepares receipt voucher for the same payment, then at any time the management can find out the details of the amount received without looking into the accounting software.

Please note: A receipt voucher is completely different from a normal receipt which is issued after receiving any payment from anybody.

A general format of receipt voucher has been given below. Changes can be made in this format as per the respective needs.