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7.2 Double Entry Book Keeping—CBSE XI

CHAPTER SUMMARY

• Financial accounting records contain factual financial information and, therefore, all business
transactions should be evidenced by documentary evidence. For example, a cash memo
showing cash sales, an invoice showing sale of goods on credit, the receipt made out by the
payee against cash payment, are all examples of source documents.
• A voucher is a document providing evidence of a business transaction.
• Types of Vouchers: 1. Supporting Vouchers and 2. Accounting Vouchers.
1. Supporting Vouchers: These vouchers are generated following a business transaction.
These vouchers are the documentary evidence of business transactions having taken place.
2. Accounting Vouchers: These are secondary vouchers prepared on the basis of supporting
vouchers by an Accountant and countersigned by an authorised person of the organisation
for the purpose of recording in the books of account.
These vouchers may be classified into the following categories:
(i) Cash Vouchers and (ii) Non-Cash Vouchers or Transfer Vouchers.