Hi friends can anybody tell me what are the steps in checking bank vouchers
3 Replies
(Guest)
well theoretically the steps can be as follows..
- Supporting documents are important
- check authorisation as per delegation of authority
- chek the time of receipt of bank receipts and time of banking it...whether there is any time delay....(this is for internal audit...and may be skipped for statutory audit..)
- examine brs...reconciliation items...r ther any items more than 6 months old....such old items have to be reversed....
- ensure that each bank payment has a particular reference...for example...invoice number against which bank payment has been made....if lumpsum amount is made...then ignore this step....
- Download some files on audit programs....in the area of bank vouching....
but practically it is important to note that now whole banking system is online.. means all enteries are posted online and automatic charging of interest and other charges and other is tehre.. so in such case its important to evaluate the system and check out the charges on fresh accounts opened. since mistake can b committed in this area or at time of exceeding ad hoc limit.. otherwise in all cases the charging system is automatic and rare chances of error. you will rarely get any manual vouchers in any bank..
(Guest)
Dear friend,
Following steps can be followed for checking Bank Vouchers.
1. Voucher in banks are generally of Two types 1. Cash 2. Transfer
2.Every banks maintains Daily Transaction report for record all transaction during day
3.We check voucher with Daily Transaction report.
4.As there would be numerous vouchers involving various transactions like deposits money , withdraw money , DD requisition slip , Matured FD receipts , inter branch transaction, we can test check transaction according to selectivie basis.
5 E.g Voucher relating to revenue , various charges collected by banks , matured deposits , expenses incurred by bank , inter branch vouchers ,transaction found unusual should be given importance.
6. Each debit or credit voucher shall be stamped ( Cash or Transfer ) and authorized by appropriate authority.
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