Payment vouchers in businesses are essential to the daily functions of the business operations. It’s a safe way of carrying out cash payments without having employees dealing with actual cash. This also serves as an essential way of tracking the outflows of cash within the company. This will also show the different amount being utilized by different departments, whether on a weekly and monthly basis.
Different use of payment vouchers varies from company to company; some company will give Lunch payment vouchers to its staff to purchase lunch, while another company will use taxi payment vouchers for its staff that works on a night shift or grave night shift. Other payment vouchers are staff incentive payment vouchers.
The payment vouchers records can be easily maintain for example in the use of Taxi payment vouchers, most taxi company will issue a book with each page having a voucher number and is printed in duplicate. Therefore when this is used, the date of the voucher, the name of the individual the reason for the taxi voucher and the authorizing officer will sign and the original is given to the staff, who will in turn give the taxi personnel the voucher to take to their company. The company will then use this voucher to claim for payments.
Other payment Vouchers can be easily accessible on website which will give the company name and logo, the name of the person receiving the voucher, the date the person receive the voucher, the reason for the voucher, the amount allowed on that voucher, the authorizing officer and the department that the person is from so has to debit the relevant cost centre.
Payment vouchers also allows the company to save, in that the vouchers will normally take some time to be returned to the company that issue these vouchers and as a result monies will stay in the company’s account longer and earn more interest than if the company had paid cash immediately. They are a safer method than cash if this is lost the company can place a stop easily on these vouchers and they can be easily replace.
Payment vouchers are easily accessible on website that can be down load for free and are user friendly. These templates are design by professionals who have expert knowledge on the payment vouchers and its uses. This can be saved on a company computer and the template tailored to add the company name, address, logo and other contact details such as telephone number, email and fax. The storage of vouchers is also very cost effective. They can either be stored in a computer documents or can be printed and filed in a filing cabinet or stored in a filing box depending on the type. The payment vouchers also serve as a good source of tracking and retrieval of information, whether it’s for audit purposes or just information for the yearly budget.
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