The purpose of vouchers is to authenticate all business transactions found in the accounting records.
Voucher types used by WiseEconomy:
- ML: Sales invoice sending event
- MS: Sales invoice payment event
- MM: Sales invoice reminder event
- MT: Order creation event
- TS: Order payment event
- OL: Purchase invoice reception event
- OS: Purchase invoice payment event
- PA: Bank transaction event
- SS: Unallocated payment (voucher created from bank statement reference data)
- KA: Cash transaction
- KT: Cash reconciliation event
- MU: Other manual event
- AV: Automatic deduction
- AI: VAT declaration event
- FS: Financial statement event
In WiseEconomy, a sales invoice voucher (ML) is created when the invoice is sent to the customer, resulting in entries to the appropriate sales account, VAT payable account, and revenue account. A credit note also generates an ML voucher. Correct account allocation is set for the product, but the voucher can be edited on the invoice's additional information tab.
A sales invoice payment voucher (MS) is generated when a payment is received for the invoice. The system automatically records the receivable amount from the accounts receivable ledger and makes the corresponding entry to the appropriate revenue account.
A sales invoice reminder voucher (MM) is created when a reminder invoice is sent to the customer for an outstanding payment. The reminder fee is recorded against the appropriate sales account, VAT payable account, and revenue account.
The order voucher (MT) is generated from online store and point-of-sale transactions, referred to in the system as "Order". The voucher is created when the Order is paid for. Correct account allocation is set for the product, but the voucher can be edited on the order's additional information tab. The system automatically accounts for the order based on the information set for the product and the designated revenue account.
The order payment voucher (TS) is generated when a payment is made for the order. The system automatically records the payment amount against the accounts receivable ledger and makes the corresponding entry to the appropriate revenue account.
The purchase invoice voucher (OL) is generated when the purchase invoice has completed the approval process and is approved. At this point, the status of the invoice is "Ready for Payment".
When the purchase invoice is paid and the payment is associated with the correct purchase invoice, the purchase invoice payment voucher (OS) is generated. The system automatically records the payment against accounts payable and makes the corresponding entry to the appropriate payment account (e.g., bank account).
The bank transaction voucher (PA) is generated when a voucher is added directly via the bank statement (Process → Add Voucher). The user manually accounts for the voucher, including considering VAT.
The unallocated payment voucher (SS) is generated when a voucher is created from bank statement reference data. The user manually accounts for the voucher.
The cash transaction voucher (KA) can be manually generated when a voucher is added manually to the system and "Cash" is selected as the voucher type. This function can be used, for example, when a purchase is made in cash from the cash register. The user manually accounts for the voucher.
The cash reconciliation voucher (KT) is automatically generated (if the reconciliation difference account is saved in the settings) when the cash register is closed, if the cash reconciliation differs from the system-calculated base cash and cash sales value. The system automatically accounts for the voucher.
The memo voucher/other manual transaction (MU) is generated when a manual voucher is added and "Other" is selected as the voucher type. This is used, for example, when transferring accounting data to Wise and entering opening balances. The user accounts for the voucher.
The automatic deduction voucher (AV) is generated when a per-account deduction/depreciation plan is added to the accounting settings. The system automatically creates deductions in the accounting (as AV vouchers) based on this information during the automatic deduction process. The system automatically accounts for the voucher based on the information set in the settings.
The VAT declaration voucher (AI) is generated when the processed VAT period is closed. The system automatically accounts for the voucher on the correct VAT accounts.
The financial statement event (FS) is generated when the system performs financial closing procedures. The FS voucher is created when the system records the profit/loss from the previous financial year to the new financial year. The system automatically accounts for the voucher.