Short Notes — Ch 6 Voucher Approach in Accounting
⚡ Ch 6 — Voucher Approach in Accounting
PYQ: 3 questions — 2022·Q90 · 2024·Q37 · 2024·Q38. Asked in both papers. MCQ bank: 6 questions (Q73–78) + the voucher items in Ch 2. Tiny chapter, pure definitions — near-free marks.
1️⃣ The core
Voucher / Source Document = the documentary evidence of a transaction. Examples: cash memo, invoice, sales bill, pay-in-slip, cheque, salary slip.
All vouchers are serially numbered, filed in chronological order, and every journal entry is made on the basis of a voucher.
2️⃣ ⭐ Classification of Vouchers (the diagram, as a table)
VOUCHERS
│
┌──────────────┴──────────────┐
A. SUPPORTING B. ACCOUNTING
(source documents) (made by the accountant)
│ │
┌────┴────┐ ┌─────────┴─────────┐
Internal External Cash Vouchers Non-cash
│ (Transfer)
┌────────┴────────┐
Debit Voucher Credit Voucher
(Payment) (Receipt)
A. Supporting Vouchers (created when the transaction happens)
| Type | Who prepares it | Examples |
|---|---|---|
| External | third parties | Debit Note received · Credit Note received · Purchase Invoice received · Cash Memo received from the seller |
| Internal | the firm's own staff | Debit Note issued · Credit Note issued · Sales Invoice issued · Pay-in-slip |
The notes list "Cash Memo received from the Sellers" under BOTH internal and external. The author's corrigendum says: "At page 29, delete (ii)(d) Cash Memo Received from Seller — it is an external supporting voucher." ✅ Anything RECEIVED from outside = External. Anything ISSUED by you = Internal.
B. Accounting Vouchers (prepared by the accountant, countersigned by an authorised signatory)
| Voucher | Also called | Records |
|---|---|---|
| Payment voucher | Debit voucher | payment by cash or cheque |
| Receipt voucher | Credit voucher | receipt of cash / bank |
| Transfer voucher | Non-cash voucher | non-cash items — credit purchases, depreciation, outstanding expenses, accrued income |
Receipt vouchers split further: Cash receipt voucher (cash in hand) · Bank receipt voucher (cheque/DD).
3️⃣ Quick Revision Table
| Point | Answer |
|---|---|
| Voucher issued at the time of payment | Debit voucher |
| Voucher issued at the time of receipt | Credit voucher |
| Voucher for non-cash transactions | Transfer / Non-cash voucher |
| Credit Note is issued on | Sales Return |
| Debit Note is issued on | Purchase Return |
| Proof that payment actually happened | Receipt |
| Written evidence of any transaction | Voucher |
| Prepared by third parties | External supporting voucher |
| Journal → Ledger | Posting (MCQ Q78 sits in this block) |
You return goods to the supplier → you issue a DEBIT note (supplier's account is debited). Customer returns goods to you → you issue a CREDIT note (customer's account is credited).
4️⃣ 🎯 PYQs from this chapter
2024 · Q38 — Which business document is proof of payment?
a) Receipt b) Invoice c) Debit note d) None of the above → Ans: A A receipt proves money actually moved. An invoice only demands payment; a debit note adjusts a bill.
2024 · Q37 — Procedure an accountant should follow while preparing a voucher
a) Verify the date, amount, signature and transaction details on the supporting documents b) Confirm that an authorised signatory has approved the supporting documents c) Select the type of voucher to be used d) All of the above → Ans: D
2022 · Q90 — Receipt Voucher is
a) record of purchase of raw material b) record of purchase of stationery c) record of sale of machinery d) record of receipt of cash and bank → Ans: D
5️⃣ High-frequency MCQ traps
| MCQ | Point |
|---|---|
| Q73 | Credit note → Sales Return |
| Q74 | Debit note → Purchase Return |
| Q75 | Payment time → Debit voucher |
| Q76 | Receipt time → Credit voucher |
| Q77 | Non-cash → Transfer voucher |
| Q78 | Journal → Ledger = Posting |
| Ch 2 · Q71 | Written evidence = Voucher |
6️⃣ If you remember nothing else
Payment = Debit voucher · Receipt = Credit voucher · Non-cash = Transfer voucher · Credit note = sales return, Debit note = purchase return · Receipt = proof of payment, Invoice = only a demand · Received from outside = External, Issued by you = Internal
🔗 Related
- Full notes: L-6-VOUCHER APPROACH IN ACCOUNTING · MCQs Q73–78 in MCQs
- Prev: SN-5-Double-Entry-Journal · Next: Ch 7 — Ledger Accounts (pending your go-ahead)
