CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 5-2 Voucher Check and Check Registers.

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Presentation transcript:

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 5-2 Voucher Check and Check Registers

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning Accounting Terms Voucher Check—A check to pay for an approved voucher with space for writing details about a cash payment. Check is written for amount LESS any cash discount and presented to a person AUTHORIZED to APPROVE payment. Prepared in DUPLICATE! Copy used as source document for cash payment transactions. 2 LESSON 5-2

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 3 LESSON Prepare check to payee for net amount of invoice. 3.Enter amount of invoice. 4.Enter amount of discount. 5.Enter net amount. 1.Enter voucher number. 2.Enter payee’s invoice number. PREPARING A VOUCHER CHECK page

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 4 LESSON Write credit amount(s). 3.Write check number. 4.Record voucher number. 5.Enter debit amount. 1.Write date. 2.Record payee. 7.Calculate and record new balance. JOURNALIZING CASH PAYMENTS page Check Register—A journal used in a voucher system to record cash payments. Similar to and REPLACES a cash payments journal. REMEMBER: Go BACK to Voucher Register to record there. File by vendor once pd.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 5 LESSON 5-2 PROVING, RULING, AND POSTING A CHECK REGISTER page 152 Total, Prove and Rule the Special Amount Columns at the END of each month! Do NOT total the Bank columns. These are running balances. Check your bank balance with checkbook and CASH account. All should be the same!

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 6 LESSON 5-2 STARTING A NEW PAGE OF A CHECK REGISTER page 152 Begin a new page at the beginning of each month. Only the BALANCE of the bank balance is brought forward. Totals from Special amount columns are NOT brought forward because they were posted the previous month!!!!!

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning 7 LESSON 5-2 TERMS REVIEW voucher check check register page 153

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning Audit Your Understanding 1.A check register is similar to and replaces WHAT journal? 2.In what order are paid vouchers filed? 3.What account is debited for each check recorded in a check register? 8 LESSON 5-2