A voucher system is a process for approving and documenting all purchases and payments on account.

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A voucher system is a process for approving and documenting all purchases and payments on account. This involves creating a voucher for each transaction, which includes details such as the vendor, date, amount, and purchase description. The voucher is then approved by the appropriate person in the organization before the payment is made. This system helps to ensure that all purchases are authorized, appropriate, and accurately recorded in the accounting system.

A Voucher System Is a Process for Approving and Documenting