This not only creates clarity and transparency for the company itself, but also an advantageous starting point for audits.
How does voucher accounting work?
Document accounting is used for debtors (receivables) and creditors (payables). In accounting, all vouchers must be collected in a basic register. This is done systematically: all documents are numbered by the employees according to a fixed scheme. The voucher number is used to identify the voucher in accounting and to link the transaction to the corresponding accounts. To summarize:
- One voucher number per document: This number is unique and consecutive.
- Function of the voucher number: Used both for sorting and as a reference to the corresponding transaction.
Only in the next step is the allocation to the respective G/L and personal accounts carried out. The amounts of the collected receipts are added together. The posting is then made directly from the vouchers.
Addition strips & pagination stamps
- Addition strips: In traditional accounting, the totals of vouchers are often documented using an addition strip. In digital voucher accounting, the accounting software takes over this function and automatically creates reports with the added amounts.
- Pagination stamp: A pagination stamp is used to number receipts consecutively. This function is also performed by the software in digital accounting, which automatically assigns unique document numbers.
And yes, both terms come from good old traditional accounting, from the days of paper invoices, receipts and till receipts – almost nostalgic, isn’t it?
Advantages of voucher accounting
As a form of accounting, voucher accounting offers numerous advantages.
- Transparency: all financial transactions remain clearly documented and traceable.
- Precision: Errors are minimized as every entry is backed up by a voucher.
- Audit proof and security: All necessary documents are quickly available for audits by auditors.
- Efficiency: The systematic recording and numbering of receipts makes bookkeeping easier and saves time.
- Legal certainty: Compliance with legal regulations is guaranteed by complete documentation.
Why voucher accounting?
Voucher accounting is therefore an indispensable part of bookkeeping. It ensures that all of a company’s business transactions are fully documented. A voucher is created from every business transaction, which forms the basis for precise and transparent bookkeeping. Important to know: This form of bookkeeping is just one of many others, such as the “French form” or “double-entry bookkeeping”. Which form of bookkeeping you choose depends on the diverse requirements of your business or company.