51) Vouchers are recorded in the voucher register as they are paid.


52) A schedule of vouchers payable can be prepared from the tickler file at the end of the month.


53) In a voucher system, the source documents include the invoice, receiving report, purchase order, and purchase requisition.


54) To maintain good internal control procedures, the person filing a purchase requisition should never approve the payment.


55) The information contained on a voucher includes: invoice number and date; purchase order number; the amount to be paid, who is being paid; voucher number; and the verification steps.


56) When a voucher is prepared, the invoice needs only to be compared to the purchase requisition and purchase order.

57) Vouchers Payable is a liability account on the balance sheet.


58) Vouchers Payable replaces Accounts Payable in the general ledger.


59) In a voucher system, a schedule of vouchers payable is essentially the same as a schedule of accounts payable.


60) In a voucher system, Accounts Payable is the controlling account for the subsidiary ledger Unpaid Vouchers.




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