There are six types of vouchers used for accounting transactions: contra vouchers record cash and bank transactions; payment vouchers account for payments made; receipt vouchers record cash received; journal vouchers record credit transactions, asset purchases, and depreciation; sales vouchers record credit and cash sales; and purchase vouchers contain debit and credit purchase entries and record all purchase transactions.
There are six types of vouchers used for accounting transactions: contra vouchers record cash and bank transactions; payment vouchers account for payments made; receipt vouchers record cash received; journal vouchers record credit transactions, asset purchases, and depreciation; sales vouchers record credit and cash sales; and purchase vouchers contain debit and credit purchase entries and record all purchase transactions.
There are six types of vouchers used for accounting transactions: contra vouchers record cash and bank transactions; payment vouchers account for payments made; receipt vouchers record cash received; journal vouchers record credit transactions, asset purchases, and depreciation; sales vouchers record credit and cash sales; and purchase vouchers contain debit and credit purchase entries and record all purchase transactions.
1. Contra: -Contra vouchers record cash and bank account transactions.
2. Payment :- Payment Voucher is used to account for all the payments made by the company through cash/bank 3. Receipt:- Entries are made in receipt vouchers when cash comes into the business. Receipt vouchers are used to record money received from customers. 4. Journal :-The following entries are recorded in the journal voucher: credit buying or selling fixed asset purchase entries depreciation 5. Sales:- Sales vouchers are used to record the sales transactions of a company. When a company sells goods on credit or cash, sales vouchers are used to record all the sales transactions of the company. 6. Purchase:- Purchase voucher contains debit and credit purchase entries. Purchase vouchers are used to record all the purchase transactions of a company.