Receipt voucher is prepared for all the money received by the business firm. Money is received in a company for the following reasons:-

  • Cash Sales
  • Payment received from the customers against the dues.
  • Advance payment from customers.
  • Refund of securities.
  • Payment received from creditors against the debit balance lying in their account.
  • Receipt of any type of income i.e. interest, commission, rent etc.
  • Refund of any tax amount from tax authorities.
  • Any other receipts.

Money is received in the following forms:-

  • Cash
  • Cheques
  • Demand Drafts or Pay Orders
  • Direct transfer in bank account of the business firms.
  • If any payment is made by third party on behalf of the company then also it will be treated as receipt from the person who has paid the money on behalf of the company.

Types of Receipt Vouchers

In small organizations, only Single type of Receipt Voucher is more than sufficient but in a large business firms, following types of voucher are prepared:-

  1. Cash Receipt Voucher:- For all money which is received in cash.
  2. Bank Receipt Voucher:- For all money received by way of cheques, Demand Draft, Pay Orders or directly received by the bank from any person on behalf of the company.

Note:  For any amount paid by third person on behalf of the business firms, no receipt voucher shall be prepared though it is the receipt in indirect way for the business firm. Since no money is received physically, that is why no receipt voucher shall be prepared. For this type of transactions, Journal Voucher shall be prepared.

The source document for Receipt Vouchers

Following are the source document for making Receipt Vouchers:-

  • Cash Memo issued by business firm for cash sales.
  • Bank Advice for direct receipt in current account of the firm.
  • Bank deposit slips or Bank pay in slips for deposits of the cheques, drafts and pay orders.
  • Copy of supporting letters for other receipts.

Precaution To Be Taken for Preparation of Receipt Vouchers

Any person who prepares the receipt voucher, must keep in his mind, the following points:-

  • Date of receipt must be written on voucher.
  • The receipt voucher must be numbered
  • Amount should be written both in figures and words
  • The receiver of money must sign the voucher
  • The voucher must be signed by the authorized person who can instruct the cashier to receive the money.
  • Copy of receipt issued by the company or other source document must be attached with the receipt voucher.

Illustration – 1

XYZ LIMITED made a cash sale on 31.07.15 for Rs.12500/= vide Cash Memo No. 501.Prepare the necessary voucher of the same transaction in the books of M/S XYZ Limited.

Solution:

Cash Receipt Voucher shall be prepared for the above transaction as follows:

M/S XYZ LIMITED

CASH RECEIPT VOUCHER

Voucher No. 1518                                                                   Date:  31.07.15

PARTICULARS

 AMOUNT

(IN RS.)

DEBIT: Cash Account

12500/=

TOTAL

12500/=

CREDIT: Sales Account

12500/=

TOTAL

12500/=

Narration: Being cash received against cash sale as per cash memo No. 501 enclosed.
Amount in Words: Rupees Twelve Thousand Five Hundred only.
Manager’s Signature                             Cashier’s Signature

 

Illustration 2

Rs.10000/= received by M/s XYZ Limited in cash from M/s Supple Enterprises vide Receipt No, 104 dated 31.07.15 Prepare the necessary voucher of the same transaction in the books of M/S XYZ Limited.

Solution:

Cash Receipt Voucher shall be prepared for the above transaction as follows:

M/S XYZ LIMITED

CASH RECEIPT VOUCHER

Voucher No. 1519                                                                    Date:  31.07.15

PARTICULARS

 AMOUNT

(IN RS.)

DEBIT: Cash Account

10000/=

TOTAL

10000/=

CREDIT: M/s Supple Enterprises

10000/=

TOTAL

10000/=

Narration: Being cash received from M/s Supple Enterprises as per our Receipt No. 104 enclosed.
Amount in Words: Rupees Ten Thousand only.
Manager’s Signature                        Cashier’s Signature

 

Illustration 3

Cheque No. 145891 dated 20.7.15 for Rs.60000/= received by M/s XYZ Limited from M/s Mascot Marketing and deposited the same on 31.07.15 in State Bank of India. Prepare the necessary voucher of the same transaction in the books of M/S XYZ Limited.

Solution:

Bank Receipt Voucher shall be prepared for the above transaction as follows:

M/S XYZ LIMITED

BANK RECEIPT VOUCHER

Voucher No. 1785                                                                   Date:  31.07.15

PARTICULARS

 AMOUNT

(IN RS.)

DEBIT: State Bank of India Account

60000/=

TOTAL

60000/=

CREDIT: M/s  Mascot Marketing

60000/=

TOTAL

60000/=

Narration: Being cheque No. 145891 received from M/s Mascot Marketing as per pay in slip of State Bank of India enclosed.
Amount in Words: Rupees Sixty Thousand only.
Manager’s Signature                     Cashier’s Signature

 

Illustration 4

M/s ABC Enterprises issued Cheque No. 458970  to M/s Gift House on 25.07.15 on behalf of M/s XYZ Limited  vide Debit Note No. 111 dated 25.07.15 of M/s ABC Enterprises.

Solution:

Note: Receipt Voucher is made only in case when the amount is received by the firm directly. Though, it is a receipt from M/s ABC Enterprises but not by business firm but by other firm on our behalf. Therefore, for this transaction, Journal Voucher shall be prepared. Please refer to Journal Voucher for this type of transactions.

 

Illustrations 5

Amount of Bank Interest for Rs.12000/= against Fixed Deposits, credited by State Bank of India in current account of M/s XYZ Limited 31.07.15 vide their advice No. 1258) Prepare the necessary voucher of the same transaction in the books of M/S XYZ LIMITED.

Solution:

Bank Receipt Voucher shall be prepared for the above transaction as follows:

M/S XYZ LIMITED

BANK RECEIPT VOUCHER

Voucher No. 1786                                                                    Date:  31.07.15

PARTICULARS

 AMOUNT

(IN RS.)

DEBIT: State Bank of India

12000/=

TOTAL

12000/=

CREDIT: Interest Received on Fixed Deposit Account

12000/=

TOTAL

12000/=

Narration: Being interest received against fixed deposit, credited by bank in our current account as per bankers advice no, 1258 dated 31.07.15 enclosed
Amount in Words: Rupees Twelve Thousand only.
Manager’s Signature                     Cashier’s Signature

 

Illustration 6

An amount for Rs.55000/= deposited by M/s Supple Enterprises, directly in current of account of M/s XYZ Limited with State Bank of India vide Banker’s Credit Advice no. 1005 dated 31.07.15. Prepare the necessary voucher of the same transaction in the books of M/S XYZ LIMITED.

Solution:

Bank Receipt Voucher shall be prepared for the above transaction as follows:

M/S XYZ LIMITED

BANK RECEIPT VOUCHER

Voucher No. 1787                                                                       Date: 31.07 .15

PARTICULARS

 AMOUNT

(IN RS.)

DEBIT: M/s State Bank of India Account

55000/=

TOTAL

55000/=

CREDIT: Supple Enterprises

55000/=

TOTAL

55000/=

Narration: Being fund transferred by M/s Supple Enterprises in State Bank of India as per Banker’s Credit Advice No.1005 dated 31.07.15 enclosed
Amount in Words: Rupees Fifty Five Thousand only.
Manager’s Signature                     Cashier’s Signature

 

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