Legal Definitions - voucher

A voucher is a formal document or record that serves one of two primary purposes:

• It acts as proof or confirmation that a financial transaction, such as a payment or debt settlement, has occurred.
• It provides official authorization for a payment to be made, funds to be disbursed, or a specific service to be received.

Here are some examples illustrating the use of a voucher:

• Example 1: Proof of Payment

  Imagine a small business owner who pays their monthly utility bill in cash at a payment center. The center provides them with a printed receipt detailing the amount paid, the date, and confirming the payment was applied to their account.

  This receipt acts as a voucher because it is a document confirming that the payment was made and the debt for that month's utilities was discharged. It serves as official proof for the business owner's financial records.

• Example 2: Authorization for Future Service

  A family books a hotel stay for their vacation, but due to an unexpected emergency, they have to cancel. The hotel, as a gesture of goodwill, issues them a "future stay voucher" for the full amount paid, valid for one year.

  This hotel voucher is an authorization document. It doesn't confirm a past payment for a *completed* service, but rather authorizes the family to receive a future service (a hotel stay) up to the specified value, effectively acting as a form of pre-paid credit or authorization for a future booking.

• Example 3: Internal Authorization for Disbursement

  In a large corporation, an employee travels for a business conference and incurs various expenses. Upon returning, they submit an expense report with all their receipts. After their manager approves the report, the accounting department processes an "expense voucher" internally.

  This internal expense voucher is a formal document that authorizes the company's treasury department to disburse funds from the company's accounts to reimburse the employee for their approved expenses. It ensures that all payments are properly documented and approved according to company policy.