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What is voucher and types of voucher?

It can be said to be a written document that supports the entries made in the record books that helps in verifying the accuracy of the transactions. Different types of vouchers can be as follows: Receipt voucher. Payment voucher. Journal voucher.

What are the 3 types of discount?

There are 3 Types of Discount; Trade discount, Quantity discount, and. Cash discount.

What is the most common group of discounts?

1. Percentage discounts. The percentage off deal (e.g. 20% off or 50% off) is one of the most popular and effective types of promotions.

What are the types of discount?

The two types of discount offered are trade discount and cash discount.

What are the two methods of discount?

There are two types of discounting methods of appraisal - the net present value (NPV) and internal rate of return (IRR). Net present value (NPV) Internal rate of return (IRR) Disadvantages of net present value and internal rate of return.

What are the 3 types of vouchers?

Types of vouchers Explained (1) Receipt voucher- It is also called a credit voucher. (2) Payment voucher- It is also called a debit voucher. (3) Journal voucher- A journal voucher is also called a non-cash voucher or transfer voucher.

What account does discounts go to?

As discounts are taken, the entry is a credit to the accounts receivable account for the amount of the discount taken and a debit to the sales discount reserve.

What are the types of vouchers?

Types of Vouchers Debit or Payment voucher. Credit or Receipt voucher. Supporting voucher. Non-Cash or Transfer voucher (Journal voucher)

What are the 9 types of voucher?

Tally Accounting Vouchers Sales Voucher. You keep track of sales entries every time you make a sale of a service or product. Purchase Vouchers. Payment Vouchers. Receipt Voucher. Contra Voucher. Journal Voucher. Debit Note Voucher. Physical Stock Verification Voucher.

What are the types of vouchers in auditing?

Voucher is classified, on the basis of source, in two types which are Primary Voucher and Collateral Voucher. A compound voucher is a voucher that the company creates for two different sorts of transactions. There are two types of compound voucher which are given as Debit Voucher and Credit Voucher.

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