How to prepare the chapter Vouching - Basic points covered in vouching of all transactions BY CA. Nitin Gupta

Basic points

• Examine voucher of the transaction, it should be properly dated, serially numbered and duly authorized.
  
• Examine the calculation of voucher.
  
• Examine proper recording of transaction. Related accounts are properly debited & credited.
  
• Examine posting in relevant ledgers.
  
• Examine cash book. (Receipt/ Payment)
  
• Examine acknowledgement received (in case of payment)/ provided (in case of receipt)
  

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Labels: Accounting, Audit