Voucher Check
Candlefocus EditorVoucher checks include three parts: the actual check with the funds on it, a voucher addressed to the payee, and a voucher addressed to the payer. The voucher addressed to the payee includes the amount and name of the company offering payment. This information also appears on the check itself. The voucher addressed to the payer includes any relevant tax information, the reason for the payment, and a field that can be used to make any corrections or adjustments if needed.
Prior to the widespread use of computers, payroll voucher checks used to come in the form of a standardized paper sheet with three pre-perforated parts. While these kinds of checks are still in use today, many organizations prefer virtual voucher checks due to the speed and convenience of completing a transaction.
Voucher checks are an important form of payment for many businesses, especially those in the payroll sector. The check ensures that the payment is lawful and authentic, and that all parties to the transaction are adequately informed of the information regarding it. Setting up and processing voucher checks is also a secure and efficient way for a business to ensure that audit trails can be kept, making them an invaluable tool for keeping detailed records of all payments.