Journal Voucher
Journal?voucher?is prepared for the transactions which does not relate to sales, purchases, cash, bank, material returns.? Journal vouchers are prepared for the following transactions:-
Opening balances
Purchases of?fixed assets?and other assets on credit
Sale of fixed assets and other assets on credit
Depreciation?on fixed assets.
Purchase?of any items relating to business expenditures on credit
Adjustment entries.
Closing entries.
Correction entries.
Transfer entries.
Provisions?for expenditures
Accrual income.
The entries for transactions which are no repeated very frequently. For example if there are very limited transaction in respect of material return then the journal vouchers can be prepared rather than preparing the?purchase return voucher?or sales return vouchers etc.