Credit Voucher

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These vouchers are prepared for recording of transactions involving cash-receipts only. Cash receipts in business are accepted on account of followings

• Cash sales of goods

• Cash sales of assets

• Revenue income like interest, rent, etc. received in cash

• Cash receipts from debtors

• Loan taken

• Cash withdrawn from bank

• Receipts of advances

There are two aspects in cash receipts

• Cash

• Person or party from whom cash is received OR revenue on account of which cash is received OR property on sale of which cash is received

Transfer Vouchers

The role of credit transactions is increases at a fast pace, with expansion of business. For recording of credit transactions, a voucher is prepared known as transfer voucher. Transfer vouchers are prepared to record non-cash transactions. These vouchers are prepared both in debit and credit forms. Non-cash transactions of business relates to following

• Credit purchases

• Credit sales

• Return of goods sold

• Return of goods purchased on credit

• Depreciation on Assets

• Bad Debts etc.

Fig.4.6 Specimen of Transfer voucher