⚡ Ch 6 — Voucher Approach in Accounting

PYQ labels (updated 1 Sep 2026)

FAA 2022 = the real Finance Account Assistant paper, 6 Mar 2022 — FAA-2022-paper 2024 = the FAA paper of 28 Jan 2024 — 2024-paper PAA 2020·A = the Panchayat Accounts Assistant paper of 10 Nov 2020 — a different post, kept as practice. These were previously mislabelled "2022"; see Four-Paper-Comparison.

Exam weight

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

🚩 Correction from the book's own corrigendum

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)

Debit Note vs Credit Note — remember by who returns

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

PAA 2020·A · 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

PAA 2020 · Q97 — 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 Receipt voucher records money coming in (cash/bank).

⭐ From the REAL FAA 2022 paper (6 Mar 2022) — added 1 Sep 2026. See FAA-2022-paper.

FAA 2022 · Q44 — ______ is documentary evidence of a transaction done

a) Journal b) Index c) Voucher d) Ledger → Ans: C ⚠️ Compare 2024 · Q38: a receipt is proof of payment; a voucher is evidence of the transaction.

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

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)