BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -A payment voucher is a way to record payments made to suppliers and maintain a history of payments that your business has made. Companies use vouchers to gather and file supporting documents that are required to approve and track payments of liabilities.

Detailed explanation-2: -13] Objectivity Concept This concept states the obvious assumption that the accounting transaction recorded should be objective, i.e. free from any bias of the person recording it. So each transaction should be verifiable by supporting documents like vouchers, bills, letters, challans, certificates, invoices etc.

Detailed explanation-3: -The first type (payment due) is registered on the balance sheet as accounts payable. After the voucher’s been paid, it will be registered as a paid voucher, and the proof of payment must be attached.