What Is The Procedure Of Vouching?

In practice generally the job of vouching is done by two persons. A junior member of an audit staff alls out the particulars in respect to each of the entry appearing in the books such as data, particular, amount debited, credited and amount. The senior member compares the details called out with the documentary evidence produced to him to satisfy himself as to the genuineness of the transaction. In practice either of the following procedure is followed for identifying the act of vouching on the vouchers.

The senior puts his initials on the voucher.
A rubber stamp is put upon the voucher and upon its supporting documents.

The object of cancelling the documents by above manners is to ensure that the same documents are not produced again in support of other items.

If a transaction is satisfactorily considered to have vouched, distinctive tick is placed on the amount appearing in the book of original entry. If an item is considered to be insufficiently voucher for certain reasons a symbol Q is put on the amount appearing in the book of original entry and the relevant particulars of the vouchers which are insufficiently vouched are noted on the query list. So this is the complete procedure of the vouching.

Procedure of vouching in auditing