Accounts Reconciliation Blog

Vouchers are accounting documents that represent intent to make payments to external entities such as service providers and vendors. An accounts payable voucher is usually produced after receiving a creditor invoice and the invoice has been successfully matched to a purchase order. The voucher has to contain detailed information regarding the payee, the monetary amount of the payment, a description of the transaction, etc.

In accounts payable systems, there is a process called “payment run”. This is executed to generate payments that correspond to unpaid vouchers. The payments can be released or held at the discretion of an accounts payable supervisor or the company controller.