Voucher
A voucher is a supporting document that authorises and records a business transaction. It serves as proof of payment, purchase, or expense and includes details such as date, amount, account codes, and approvals. Vouchers help ensure accuracy, accountability, and control within the accounting and auditing process.
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Valuation Account
A valuation account adjusts the carrying value of an associated asset or liability, such as an allowance for doubtful debts…
Vendor Management
Vendor management is the process of monitoring and optimising relationships with suppliers and service providers. In accounting, it ensures timely…
Variance Report
A variance report compares budgeted figures to actual results to identify performance gaps. It highlights both favourable and unfavourable variances…
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