Question
Differentiate between source documents and vouchers.
|
Basis of Difference
|
Source Documents
|
Vouchers
|
|
Meaning
|
It refers to the documents in writing, containing the details of events or transactions.
|
When source document is considered as evidence of an event or transaction, then it is called voucher.
|
|
Purpose
|
It is used for preparing accounting vouchers.
|
It is used for analysing the transactions.
|
|
Recording
|
It acts as a basis for preparing accounting voucher that helps in recording.
|
It acts as a basis for recording transactions.
|
|
Preparation
|
It is prepared at the time when an event or a transaction occurs.
|
It can be prepared either when an event or a transaction occurs, or later on.
|
|
Legality/ Validity
|
It can be used as evidence in the court of law.
|
It can be used for assessing the authentication of transactions.
|
|
Prepared By
|
It is prepared by the persons who are directly involved in the transactions, or who are authorised to prepare or approve these documents.
|
It is prepared by the authorised persons or by the accountants.
|
|
Examples
|
Cash memo, invoice, and pay-in-slip, etc.
|
Cash memo, invoice, pay-in-slip (if used as evidence), debit note, credit note, cash vouchers, transfer vouchers, etc.
|
Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.
| (₹) | ||
| i. | Brij Mohan commenced business with Cash | 1,00,000 |
| ii. | Bought goods for Cash | 60,000 |
| iii. | $\frac{1}{3}\text{rd}$ of the above goods sold at a profit of 20% on cost. Half the payment recieved in Cash | |
| iv. | Purchased typewritter for office use | 15,000 |
| v. | Purchased goods on Credit from X | 25,000 |
| vi. | Paid to X | 15,000 |
| vii. | Paid Salary | 3,000 |
| viii. | Received commission | 500 |
| ix. | Sold goods for Cash (Cost ₹ 50,000) | 60,000 |
|
1.
|
Bought goods from Nanak Bros. for ₹ 4,00,000 at 10% trade discount and 3% cash discount on purchase price. 25% of the amount paid at the time of purchase.
|
|
2.
|
Sold goods to Kumar & Sons. for ₹ 2,00,000 at 20% trade discount and 5% cash discount on sale price. 60% of the amount received by Cheque.
|
|
3.
|
Received from Gopi Chand ₹ 38,000 by Cheque after deducting 5% cash discount.
|
|
4.
|
Paid ₹ 20,000 for rent by Cheque.
|
|
5.
|
Paid ₹ 50,000 for salaries by Cheque.
|
|
6.
|
Goods worth ₹ 10,000 distributed as free samples.
|
|
7.
|
₹ 5,000 due from Chanderkant are bad-debts.
|
|
8.
|
Sold household furniture for ₹ 15,000 and the proceeds were invested into business.
|
|
2019
|
|
₹
|
|
April 1
|
Commenced business with cash
|
1,50,000
|
|
April 2
|
Opened a bank account with PNB
|
50,000
|
|
April 3
|
Purchased furniture
|
20,000
|
|
April 7
|
Bought goods for cash from M/s. Rupa Traders, Delhi
|
30,000
|
|
April 8
|
Purchased goods from M/s. Hema Traders, Chandigarh
|
42,000
|
|
April 10
|
Cash sales
|
30,000
|
|
April 14
|
Sold goods on credit to M/s. Gupta Traders, Kolkata
|
12,000
|
|
April 16
|
Rent paid
|
4,000
|
|
April 18
|
Paid Electricity expenses
|
1,000
|
|
April 20
|
Received cash from Gupta Traders
|
12,000
|
|
April 22
|
Goods returned to Hema Traders
|
2,000
|
|
April 23
|
Cash paid to Hema Traders
|
40,000
|
|
April 25
|
Bought postage stamps
|
100
|
|
April 30
|
Paid salary to Mohan
|
4,000
|