LESSON 5-3 Selected Transactions in a Voucher System

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LESSON 5-3 Selected Transactions in a Voucher System RED

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. LESSON 5-3

RECORDING PAYROLL IN A VOUCHER REGISTER pages 156 and 157 LESSON 5-3

A PAYROLL VOUCHER page 156 LESSON 5-3

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. LESSON 5-3