Voucher

A “voucher” is something that entitles its owner to something else. That’s...totally vague, we know, so we’re going to break it down a little further.

Most of the time, a voucher is a document—physical and/or virtual—that gives the voucher holder access to a certain good or service. For example, when we go to the car wash and that weird guy in the hat gives us a coupon for a free burger at the shady restaurant next door—that’s a voucher in its simplest form. It’s a document entitling us to a free burger.

Just like our FB relationship status, though, vouchers can get complicated. For example, some states offer school vouchers entitling parents to send their kids to schools outside of their district if the ones in the district are underperforming. And in the accounting world, the term “voucher” can be used a little differently: vouchers are used as sort of a verification of transactions that have happened in the past. In other words, one document—the voucher—“vouches” for all of the transaction documentation that’s already been processed and logged. That way, a manager or auditor can quickly look through an organization’s financial statements and make sure all transactions are accounted (vouched) for.