Internal Control of Cash Accounts

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One of the most common methods to control cash payments is the voucher system. The components of a voucher system are

1. vouchers: documents establishing proof of payment,
2. a voucher register: to record every voucher,
3. an unpaid voucher file,
4. a paid voucher file, and the
5. a check register: to record the payment of each voucher.

The voucher system provides effective accounting controls and aids management decision making.