A salary voucher format is a printed paper that is prepared by the account department of a company which means the salary of an employee is disbursed into his/her account. Most organizations provide salary vouchers to their employees as proof of a salary amount which has already been into their bank accounts. Being a part of the bookkeeping and accounting system, a salary voucher is considered as a salary expense, and it is kept in the account department for further use. In terms of accountancy, a voucher is generated for a transaction and its name refers to the account in which it is used. For instance, a salary voucher refers to a salary transaction. However, there are certain organizations where this voucher is also considered as a paystub, and it is entirely given to an employee when the employer is all set to get paid, after a certain period like a month or week. Going further, it is a legal document which accountants or human resource department issue as instruction to transfer the salary to all employees.
Importance of Salary Voucher:
The employees of the public sector and the private sector get their remuneration on account of salaries at the end of a specific time period. However, the process of paying their salaries can be different from organization to organization. Some organizations prefer to handover salary slips at the end of the salary period, whereas some organizations provide salary vouchers to their employees which they can present at the company’s cash counter to get payment. Nevertheless, it is treated as evidence of making a salary payment in the account of an employee. After a financial year is over, all these vouchers are summed up in a salary account where annual expenses for salaries are carried forward to a profit and loss statement. No matter whether employees get a salary in cash, or in paystubs, or in salary slips, there is always a salary voucher behind every salary transaction. Moreover, a salary voucher is an exchangeable instrument and can be converted into cash by an employee when he/she receives it.
Details of Salary Voucher:
As a matter of fact, companies provide their employee with salaries in different ways. Some organizations like to pay their salaries in cash or by checks or by generating professionally designed vouchers which can be exchange for cash from the financial department of the same company. However, whatever the form is selected by an organization, salaries are transferred through vouchers, and it is done as internal work in an organization. Suppose you are working as a data optimizer in a multinational company. After completion of your salary period, you will get a salary voucher which you will deposit either in a bank or in the financial division of the same company to get cash. Based on these vouchers, an employee can ask for a salary certificate, which he/she can use for multiple reasons. Moreover, employment certificates are also attested based on the information provided in these vouchers.
