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Types of VouchersDebit or Payment voucher.Credit or Receipt voucher.Supporting voucher.Non-Cash or Transfer voucher (Journal voucher)Jan 5, 2022

Payment vouchers are principally used to ensure payments are duly approved by the correct authorized personnel before payments are disbursed.

Contra in Latin means the opposite. It is more popularly known as contra voucher. To make the definition further simpler, any transactions involving a transfer of cash between one cash a/c to another or one cash a/c to another bank a/c or one bank account to another is called as a contra entry.

Primary vouchers are those which are related with the business. Such as invoice,cash memo etc. Secondary vouchers are those which are not related to business but also used as an evidence. Such as duplicate bills, carbon copies etc...

Vouchers contain details of the total quantities, the total amount of the goods purchased and ledger to which it has been recorded. On the contrary, an invoice includes details of the goods purchased from a particular company.

Contra voucher is an accounting voucher. This Contra is used when the amount is deposited in the bank as well as the amount with drawl from the bank. Moreover, this contra is also used when transfer from bank to bank, cash to cash is done.

Payment voucher is a request issued for the payment while the receipt is the confirmation of the payment. Payment voucher issued prior to the payment while on the contrary, the receipt voucher has been issued after the payment. As simple as that.

Create a Payment Voucher with Voucher Class for Employee PaymentsGo to Gateway of Tally > Accounts Info. >Select Payment from the List of Voucher Types .Enter Employee Payments in Name of Class .Press Enter and the Voucher Type Class screen will appear as shown below:More items...

Documentary evidence in support of any business transaction is called as a Voucher. Voucher gives information about the nature and source of the transaction, its value and authority.It substantiates the entries in the book of accounts and confirms the genuiness of the transaction.

Introduction to Contra Voucher25cf Cash account to Cash account.25cf Cash account to Bank account.25cf Bank account to Cash account.25cf Bank account to Bank account.25cf Go to Gateway of Tally > Accounting Vouchers.Select F4: Contra from the Button Bar or press F4 .25cf Creating Contra Entry in Single Entry Mode.More items...