
THE ULTIMATE PRIMER ON ACCOUNTING AND INVENTORY VOUCHERS
The Complete List
THE BASICS
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THE VIRTUOUS CYCLE OF BOOKKEEPING
Books of Account (BoA) are similar to the human palm. Just as lines or impressions of palm reflect the human journey, transactions in the BoA represent the business journey. How do we ensure the BoA represent a good business journey?
VOUCHER - THE GOOGLE MAP OF A TRANSACTION
The accounting voucher is the Google Map for any transaction since the information can never be misinterpreted and will lead to the same conclusion.
ACCOUNTING VOUCHERS
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PURCHASE REQUISITION FORM
Place a requisition or demand to purchase.
PURCHASE INVOICE OR VOUCHER
Place a requisition or demand to purchase.
PAYMENT VOUCHER
Records the payment (cash and bank) transactions.
SALES INVOICE OR VOUCHER
An invoice is printed and submitted to the customer. A voucher records the transaction for statutory purposes only.
RECEIPT VOUCHER
Records the receipt (cash and bank) transactions.
SUPPORTING VOUCHER
Documentary evidence of a transaction.
NON-CASH, TRANSFER OR JOURNAL VOUCHER (JV)
Records the adjustment entries.
CONTRA VOUCHER
Used to withdraw cash from banks or to deposit cash in banks.
REVERSING JOURNAL ENTRY
A journal entry made in an accounting period, which reverses selected entries made in the immediately preceding period
ACCOUNT RECONCILIATION TEMPLATE
Records the account reconciliation process.
DEBIT INVOICE OR VOUCHER
Used for purchase returns. Pass as a voucher or an invoice where the inventory values also get affected.
CREDIT VOUCHER
Used generally for a sales return. While passing, you can refer to the original invoice number as well.
INVENTORY VOUCHERS
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PURCHASE ORDER VOUCHER
Place a purchase order on vendor.
PO AMENDMENT
Used to make changes to the existing Purchase order.
JOB WORK-IN ORDER VOUCHER
Order received by job order worker with details of finished goods to be manufactured, expected quantity of finished goods, raw material to be supplied by the principal manufacturer (job work giver), date of delivery of raw materials if delivered in installments, etc.
RECEIPT NOTE (GRN) VOUCHER
Acknowledges receipt and acceptance of supplies at the location designated on Purchase Order.
MATERIAL-IN VOUCHER
Records the kind of material and quantity of the material returned from production to stores.
REJECTIONS-IN VOUCHER
Record goods that are rejected and returned by the customer.
SALES ORDER VOUCHER
Voucher to record purchase order received from a customer. While passing the voucher, you can provide details such as by when would the order be processed, rates, etc. Later, as and when required, you can partially fulfill an order and track the remaining order or you can even pre-close the order.
JOB WORK-OUT ORDER VOUCHER
Order raised by the principal manufacturer that specifies the details of finished goods to be manufactured and expected quantity of finished goods, the raw material to be supplied by the principal manufacturer, date of delivery of raw materials if delivered in installments, etc.
DELIVERY NOTE OR CHALLAN VOUCHER
Records the delivery of goods. It can include transporter details such as lorry number, dispatch document number, bill of lading, etc.
MATERIAL-OUT VOUCHER
Records the kind of material and quantity of the material issued to production.
REJECTIONS-OUT VOUCHER
Records goods that are rejected and returned to a supplier.
PHYSICAL STOCK VOUCHER
Records the actual stock which is verified or counted
PHYSICAL STOCK VERIFICATION VOUCHER
Records adjustment to inventory in account books after physical stock verification on monthly, quarterly or yearly basis to match the stock in hand with stock available as per the books.
INVENTORY COUNT SHEET
Records the physical count of inventory.
FIXED ASSET COUNT SHEET
Records the physical count of fixed assets.
FIXED ASSET DISPOSAL SHEET
Records the disposal of fixed assets, including storage and disposal.
BIN CARD OR KARDEX
Identifies the location and physical balance in the designated storage space.
RETURNABLE GATE PASS IN VOUCHER
Records receipt of goods into the premises that was sent out through the returnable gate pass.
RETURNABLE GATE PASS OUT VOUCHER
Records movement of goods out of the premises on a returnable basis.
QUALITY REVIEW REGISTER
Records materials rejected upon quality inspection and reasons for the same.
PACKING MATERIAL ISSUE NOTE VOUCHER
Records the kind of packing material and quantity of the material issued to production.
PACKING MATERIAL CONSUMPTION REGISTER
Records the consumption of packing material.
OVERTIME REGISTER - DEPARTMENT WISE & HOD'S APPROVAL
Records the overtime worked and approval thereof.
PRODUCTION REGISTER - DEPARTMENT WISE & HOD'S APPROVAL
Records production at each department (WIP or work in progress).
MACHINE DOWNTIME & REPAIR REGISTER
Records the machine or asset downtime and repair detail including consumption of spares.
ANNUAL MAINTENANCE (AMC) REGISTER
Records the AMC details -- vendor, tenure of the contract, emergency numbers, alternate vendor.
PRODUCTION AND SCRAP REGISTER
Records the details of production, rejects, wastages, and scrap at each milestone.