1. ADVANTAGES OF A VOUCHER SYSTEM
1. Only a few people can authorize and approve all cash payments.
2. A voucher jacket provides a convenient way to files 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, page 157