Which of the following procedures should an accountant follow while preparing a voucher?
Last updated Jun 24, 2026
Correct Answer:
Option D —
All of the above
The Voucher Preparation Process
A Voucher is an internal document used by a company's accounts department to collect and summarize the supporting documents needed to approve a financial transaction. Preparing it correctly is a critical "internal control" to prevent fraud and errors.Procedure
(A): The accountant must act as a first line of defense. Verifying the date (to ensure it belongs to the current period), the amount (to match the invoice), and the nature of the transaction ensures the entry is valid.
Procedure (B): No payment or entry should be made without authorization. The accountant must check for the signature of a department head or manager to ensure the expense was actually sanctioned by the business.
Procedure (C): Accounting systems use different types of vouchers for different purposes (e.g., Cash Vouchers, Bank Vouchers, Journal Vouchers). Selecting the right one ensures the transaction is classified correctly in the ledger.
Answer verified by Quintessence Classes faculty — Karan Nagar, Srinagar.
