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Accounting
Voucher System
A set of documents and approvals used before any cash payment is made so every expense is checked and authorized.
The voucher system creates a clear paper trail for every payment. It prevents fake invoices and unauthorized spending. Many companies still use it even with digital systems.It's like needing a permission slip signed by three teachers before the school office will give you any money for a field trip.
Real world: Before paying a supplier invoice, the company attaches a purchase order, receiving report, and approval signatures — together they form the voucher packet.
💡 A voucher system makes every dollar spent traceable and approved — it's old-school but extremely effective at stopping fraud.