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Purchase Transaction Voucher
When buying a product or a service, you receive a bill (an invoice) from the supplier.
This invoice, the original invoice that is, must be used as a voucher for the bookkeeping.This applies whether you buy cash or on credit - i.e. whether the payment is made on purchase or later.
Only original vouchers
Thus, a receipt, a copy of a cheque, etc. will not qualify for a voucher of a purchase transaction. It must be a bill - a so-called invoice, and it must be the original document, not a copy.
The reason for the requirement of an original invoice as documentation for expenses or purchase of goods, is, that usually there will only be one single original.
It is easy to make numerous copies of the same invoice. So, using only original invoice as a voucher for a purchase transaction you make sure that the transaction is only entered once into the accounts.
A copy is better than no voucher
Of course you may risk losing the original invoice for which reason you will have to obtain a copy and use that for a voucher of the purchase transaction for the bookkeeping.
This is inappropriate, but obviously better than no voucher at all. As long as
this is only a one-off event, no harm is done. Just make sure no mis-entries are
made because of it.
Avoid mistakes
A typical mistake in such cases is that the original invoice had actually
already been entered, and by using a copy you thus end up having entered the
same purchase transaction twice.
- Go to next business issue: Sales Transaction Voucher
