What is a Purchase Payment Voucher?

A voucher is an internal document that authorizes payment by matching purchase order, invoice, and receiving report. It documents approvals and provides an auditable trail for accounting and vendor reconciliation.

Who must sign the voucher?

Authorized signers vary by organization and amount thresholds. Use role-based approval rules and ensure signatories are delegated under corporate policy to avoid invalid payments.

Can I e-sign the voucher and is it legal?

Yes. Electronic signatures are legally enforceable under the ESIGN Act (15 U.S.C. ch. 96) and UETA in most states when intent, consent, attribution, and reliable record retention are met.

Which file formats should I store?

Store a PDF/A or standard PDF for long-term retention. Keep original invoice attachments and a searchable copy to support audits and retrieval.

What causes most payment delays?

Incomplete vendor data, missing receiving reports, incorrect GL coding, and absent approvals are the top causes. Validate vendor TINs and attach required supporting documents before routing.

How do I cancel or correct a voucher?

Create a reversal or correction voucher that references the original ID and documents the reason. Route the correction through the same approval steps and retain both records for audit purposes.

Electronic Signature
Templates
Miscellaneous
Purchase Payment Voucher

Purchase Payment Voucher

This template is fully customizable. Edit the text, fill out the fields, and send it for signature. Give it a try!

PURCHASE PAYMENT VOUCHER

Voucher No.: Date:

Payee / Vendor

Payee Name Vendor ID / Tax ID Payee Address

Invoice No.: PO No.: Invoice Date: Due Date:

Itemized Charges

Description

Qty

Unit Price

Amount

Subtotal Tax (Specify) Other Charges (Specify) Total Amount Due

Payment Terms & Method

Payment Schedule / Due Upon Late Payment Fee Payment Method (select all that apply)

Check Wire Transfer ACH Other:

If payment by check, Check Number / Reference

Accounting / Coding

General Ledger Account / Cost Center Remarks / Justification

Certification & Authorization

By approving this voucher, the undersigned certifies that the goods or services described above were received or performed in accordance with the purchase order and applicable terms; that the amounts claimed are true and correct; and that no portion of this payment has been previously claimed or paid unless so noted. Any material misstatement or fraudulent claim may result in civil or criminal penalties to the vendor under applicable law.

The approving officer affirms that sufficient budget authority exists for payment and that this voucher constitutes proper documentation for disbursement. Vendor acceptance of payment constitutes settlement in full unless a written reservation of rights is delivered to the payer prior to receipt of funds.

Prepared By Date Prepared

Authorized Company Representative:

By:

Date:

Vendor / Payee:

By:

Date:

What a Purchase Payment Voucher Is and Why It Matters

A Purchase Payment Voucher is a standardized record used to authorize and document payment for goods or services after procurement. It typically links a purchase order, invoice, and receipt to confirm that items were received, prices match agreed terms, and internal approvals are in place before funds are released. Organizations use vouchers to create an auditable trail for accounts payable, control disbursements, and reconcile vendor payments with accounting entries. For many entities the voucher is a primary internal control that supports financial reporting, audit readiness, and fraud prevention.

Primary benefits of using a Purchase Payment Voucher

A voucher centralizes payment details, enforces approval workflows, and reduces errors by matching invoice, PO, and receiving records. It supports accounting accuracy, auditability, and timely vendor payments while limiting duplicate or unauthorized disbursements.

Who prepares and reviews this voucher

The voucher ties together operational, procurement, and finance functions to reduce risk and ensure proper controls.

Accounts Payable staff who enter invoice data and prepare the voucher for approval.
Purchasing or procurement officers who confirm PO-to-invoice matching and receipt confirmation.
Department managers who approve payment authorization and budget availability.

Essential parts of a professional Purchase Payment Voucher

A clear voucher captures identifiers, approval metadata, payment terms, and supporting references so accounting entries can be posted without delay.

Voucher ID

Unique identifier linking the voucher to the invoice and purchase order for traceability across systems and audits.

Vendor Info

Full vendor name, remit address, tax ID, and contact details so payments and 1099 reporting use consistent data.

Invoice Reference

Invoice number, date, and amount tied to the purchase order and receiving report to validate the charge.

Payment Terms

Due date, discount terms, and payment method (ACH, check, card) to ensure timely settlement and cash management.

Approvals

Fields for one or more authorized signers with date and role to document authorization before funds are released.

Accounting Tags

GL account, cost center, and project codes that permit accurate ledger posting and financial reporting.

Required data elements at a glance

Vendor TIN: Taxpayer Identification Number required for reporting.

PO Number: Purchase order reference for three-way match.

Invoice No.: Invoice identifier for vendor reconciliation.

Payment Date: Scheduled or actual date of payment.

GL Account: General ledger code for posting.

Approver: Name and role of authorized signer.

Step-by-step: completing a Purchase Payment Voucher

Follow these sequential steps to prepare, approve, and record a voucher for payment.

01

Collect Documents: Gather PO, invoice, and receiving report.
02

Enter Voucher: Input fields and attach scanned documents.
03

Review & Match: Perform three-way match and tax checks.
04

Authorize Payment: Obtain required signatures and schedule payment.

Configuring an online voucher workflow

Key settings to automate approvals and ensure accurate routing when using an eProcurement or eSignature platform.

Field	Configuration
Approval Order	Sequential \| Parallel options; set thresholds by amount
Authentication	Email OTP \| SMS code \| Single sign-on (SSO)
Attachments	Require invoice and receiving report uploads
Notifications	Email reminders and escalation rules

Where the voucher goes after completion

Typical routing steps from creation to payment posting and archiving.

Submit to AP: AP validates data and routing codes.
Manager Approval: Budget owner reviews and signs off.
Payment Execution: Treasury schedules ACH or issues check.
Record & Archive: Accounting posts entry and stores copy.

Digital signing and system requirements

Choose platforms that support audit trails, role-based access, and regulatory compliance for financial records.

File Formats: PDF and DOCX supported for uploaded vouchers.
Integrations: Connect to ERP, NetSuite, or Microsoft 365.
Security: TLS 1.2/1.3 and AES-256 encryption.

Timing and processing expectations

Common timeframes for voucher approval, payment scheduling, and tax reporting that affect cash flow and compliance.

Approval SLA:

Typical 3–7 business days depending on thresholds and reviews.

Payment Window:

Payments often scheduled by next ACH batch or weekly check run.

Early-Payment Discounts:

Discount validity determined by invoice terms (e.g., 2/10 net 30).

1099 Data Cutoff:

Ensure vendor TIN accuracy before year-end reporting.

Record Retrieval:

Allow 24–72 hours for archived document retrieval in digital systems.

Common mistakes to avoid

Entering inconsistent vendor names that prevent automated 1099 matching and delay tax reporting.
Failing to attach the receiving report or proof of delivery, causing payment holds and vendor disputes.
Skipping approval thresholds or using unauthorized signers, which creates control failures and audit findings.
Incorrect GL coding that misallocates expenses and complicates month-end reconciliation and financial statements.

Consequences of inaccurate vouchers

Duplicate Payment: Can result in financial loss and recovery costs.

Backup Withholding: 24% if vendor TIN missing or incorrect per IRS rules.

Tax Reporting Errors: May trigger IRS penalties for incorrect returns.

Vendor Disputes: Late or incorrect payments harm relationships.

Audit Findings: Weak controls increase risk of negative audit results.

Fraud Exposure: Poor segregation of duties invites misuse.

Comparison: signNow and common eSignature alternatives

Basic pricing and capabilities overview for common eSignature vendors to consider when digitizing vouchers.

	signNow	DocuSign	Adobe Sign	PandaDoc	HelloSign
Starting Price	$8/user/mo	$15/user/mo	$14/user/mo	$19/user/mo	$15/user/mo
Free Trial	Yes, 7-day	No	No	No	Yes, limited
Bulk Send	Yes	Yes	Yes	Yes	No
Audit Trail	Yes	Yes	Yes	Yes	Yes
HIPAA Compliant	Yes	Yes	Yes	No	No

Frequently asked questions about Purchase Payment Vouchers

Answers to common operational and compliance questions when creating, signing, and storing payment vouchers.

Need help? Contact support

What is a Purchase Payment Voucher?
A voucher is an internal document that authorizes payment by matching purchase order, invoice, and receiving report. It documents approvals and provides an auditable trail for accounting and vendor reconciliation.
Who must sign the voucher?
Authorized signers vary by organization and amount thresholds. Use role-based approval rules and ensure signatories are delegated under corporate policy to avoid invalid payments.
Can I e-sign the voucher and is it legal?
Yes. Electronic signatures are legally enforceable under the ESIGN Act (15 U.S.C. ch. 96) and UETA in most states when intent, consent, attribution, and reliable record retention are met.
Which file formats should I store?
Store a PDF/A or standard PDF for long-term retention. Keep original invoice attachments and a searchable copy to support audits and retrieval.
What causes most payment delays?
Incomplete vendor data, missing receiving reports, incorrect GL coding, and absent approvals are the top causes. Validate vendor TINs and attach required supporting documents before routing.
How do I cancel or correct a voucher?
Create a reversal or correction voucher that references the original ID and documents the reason. Route the correction through the same approval steps and retain both records for audit purposes.

be ready to get more

Join over 28 million airSlate SignNow users

Sign Now