LESSON 5-1
Vouchers and
Voucher Registers
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
Info on Unit 2
 This business is not departmentalized as in Unit 1 so
accounts are not divided by departments
 Uses Vouchers Payable instead of Accounts payable
 Only one Income Summary account because not
departmentalized
 Operating expenses are divided into two categories:
Selling Expenses and Administrative Expenses
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
A Voucher System – General Info
 All businesses implement procedures to control and
protect their assets.
 Cash asset is most likely to be misused because its
ownership is easily transferred.
 Procedures to protect cash include:
 Storing in safe place
 Making regular bank deposits
 Approving all cash payments
 Should be approved before payment to ensure the goods or
services were ordered, have been received, and amount due is
correct.
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
A Voucher System – General Info
 Small businesses, owner or manager approves
payment
 Large business may have several people authorized
to approve payment
 Many larger businesses and some small businesses
use the Voucher System to control cash
 In a voucher system, no check can be issued without
a properly authorized voucher
 In a voucher system, an account called Vouchers
Payable replaces the account called Accounts
Payable
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
A Voucher System – General Info
 On a voucher, there are three dates:
 Date – date voucher was prepared
 Due Date – when payment must be received
 Payment Date – when check should be written (book
uses the example of writing checks 2 days before due)
 Some vouchers are actually envelopes in which
related documents may be placed
 Voucher forms must be pre-numbered as another
facet of the control system
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
A Voucher System – General Info
 Unpaid vouchers are filed according to Payment Date in
Unpaid Vouchers File (not A/P ledger)
 Paid vouchers are filed according to Payee
 When an Invoice is checked for accuracy, a verification form
is stamped on the invoice (page 146)
 Vouchers have 5 Parts (page 147)





Payee Information
Accounts Affected
Voucher Approval
Where the Voucher is Recorded
Payment information (date, check #, etc.)
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
7
TERMS REVIEW
page 149
 Voucher – a business form used to show an
authorized person’s approval for a cash payment
 voucher system – a set of procedures for controlling
cash payments by preparing and approving vouchers
before payments are made
 voucher register – a journal used to record vouchers
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 5-1
8
VERIFYING AN INVOICE
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
page 145
LESSON 5-1
9
A VOUCHER
page 145
August 1. Purchased merchandise on account from O’Riley
Company, $3,500.00. Voucher No. 647.
Purchases
3,500.00
Voucher’s Payable
3,500.00
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 5-1
10
PREPARING A VOUCHER
FROM AN INVOICE
page 146
Section 1—Payee Information
Section 2—Accounts Affected
Section 3—Voucher Approval
Section 4—Information about
where the voucher is recorded
Section 5—Information about the payment of the voucher
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 5-1
11
VOUCHER REGISTER
pages 147 and 148
August 1. Purchased merchandise on account from O’Riley Company,
$3,500.00. Voucher No. 647.
1
2
3
4
5
1. Write date.
2. Record payee.
3. Write voucher number.
4. Enter credit amount.
5. Record debit amount.
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 5-1
12
VOUCHER REGISTER
page 147 and 148
August 2. Received invoice for sales miscellaneous expense from
Glenhill Company, $40.00. Voucher No. 648.
1
2
3
1. Write date.
2. Record payee.
3. Write voucher number.
4
5
4. Enter credit amount.
5. Record debit amount and write the
title of the account to be debited.
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 5-1
LESSON 5-2
Voucher Check and
Check Registers
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
14
TERMS REVIEW
page 153
 voucher check – form used to write a check and
details of the payment
 check register – form used to record all checks
written in the voucher system
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 5-2
15
PREPARING A VOUCHER CHECK
page 150
1
2
3
6
4
5
1. Enter voucher number.
2. Enter payee’s invoice number.
3. Enter amount of invoice.
4. Enter amount of discount.
5. Enter net amount.
6. Prepare check to payee for net amount of invoice.
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 5-2
16
JOURNALIZING CASH PAYMENTS
page 151
3
1
2
4
5
6
7
1. Write date.
2. Record payee.
3. Write check number.
4. Record voucher number.
5. Enter debit amount.
6. Write credit amount(s).
7. Calculate and record new balance.
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 5-2
17
PROVING, RULING, AND
POSTING A CHECK REGISTER
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
page 152
LESSON 5-2
18
STARTING A NEW PAGE
OF A CHECK REGISTER
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
page 152
LESSON 5-2
LESSON 5-3
Selected Transactions in a
Voucher System
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
20
PURCHASES RETURNS AND
ALLOWANCES
page 155
August 12. Issued Debit Memorandum
No. 98 to Ramsey, Inc. for return of
merchandise purchased, $85.00.
Cancel Voucher No. 652. Voucher No.
655.
1. Cancel the original voucher.
2. Prepare a new voucher.
3. In the voucher register, reference
the new voucher number.
4. Record the new voucher.
5. File the new voucher by its
payment date in the unpaid
vouchers file.
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 5-3
21
RECORDING PAYROLL IN A
VOUCHER REGISTER
pages 156 and 157
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 5-3
22
A PAYROLL VOUCHER
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
page 156
LESSON 5-3
23
ADVANTAGES OF A VOUCHER
SYSTEM
page 158
1. Only a few people can authorize and approve all cash
payments.
2. A voucher jacket provides a convenient way to file
invoices and related business papers for future reference.
3. Unpaid vouchers are filed by their payment dates to help
ensure payment of invoices within the discount periods.
4. An unpaid vouchers file and a paid vouchers file eliminate
posting to an accounts payable ledger.
5. A paid vouchers file provides three different and easy
ways to find information about a paid voucher.
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 5-3