1. LESSON 5-1 Vouchers and Voucher Registers
4/13/2017
LESSON 5-1
Vouchers and Voucher Registers
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2. 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

3. 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.

4. 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

5. 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

6. 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.)

7. LESSON 5-1
4/13/2017
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
LESSON 5-1
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8. LESSON 5-1
4/13/2017
VERIFYING AN INVOICE
page 145
LESSON 5-1
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9. A VOUCHER
page 145
August 1. Purchased merchandise on account from O’Riley Company, $3, Voucher No. 647.
Purchases
3,500.00
Voucher’s Payable
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
LESSON 5-1

11. VOUCHER REGISTER
pages 147 and 148
August 1. Purchased merchandise on account from O’Riley Company, $3, 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.
LESSON 5-1

12. VOUCHER REGISTER
page 147 and 148
August 2. Received invoice for sales miscellaneous expense from Glenhill Company, $ Voucher No. 648. 1 2 3 4 5
1. Write date.
4. Enter credit amount.
2. Record payee.
5. Record debit amount and write the title of the account to be debited.
3. Write voucher number.
LESSON 5-1

13. LESSON 5-2 Voucher Check and Check Registers
4/13/2017
LESSON 5-2
Voucher Check and Check Registers
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14. LESSON 5-2
4/13/2017
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
LESSON 5-2
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15. PREPARING A VOUCHER CHECK
page 150 1 2 6 3 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.
LESSON 5-2

16. JOURNALIZING CASH PAYMENTS
LESSON 5-2
4/13/2017
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.
LESSON 5-2
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17. PROVING, RULING, AND POSTING A CHECK REGISTER
LESSON 5-2
4/13/2017
PROVING, RULING, AND POSTING A CHECK REGISTER
page 152
LESSON 5-2
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18. STARTING A NEW PAGE OF A CHECK REGISTER
LESSON 5-2
4/13/2017
STARTING A NEW PAGE OF A CHECK REGISTER
page 152
LESSON 5-2
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19. LESSON 5-3 Selected Transactions in a Voucher System
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20. PURCHASES RETURNS AND ALLOWANCES
LESSON 5-1
4/13/2017
PURCHASES RETURNS AND ALLOWANCES
page 155
August 12. Issued Debit Memorandum No. 98 to Ramsey, Inc. for return of merchandise purchased, $ Cancel Voucher No 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
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21. RECORDING PAYROLL IN A VOUCHER REGISTER
LESSON 5-1
4/13/2017
RECORDING PAYROLL IN A VOUCHER REGISTER
pages 156 and 157
LESSON 5-3
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22. LESSON 5-1
4/13/2017
A PAYROLL VOUCHER
page 156
LESSON 5-3
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23. ADVANTAGES OF A VOUCHER SYSTEM
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
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