Purpose of Journal Voucher (JV)

[Michael Ng]

Dear all,

I have just started work in an accounting firm and there are times where we have to pass a journal voucher or what they abbreviated as JV.

This is the first time that I came across this term and I am still unclear on its purpose.

Could anyone please provide me with guidance on its uses.

Thanks!

[ciapk]

Dear,

For cash payments transactions are recorded using CPV (Cash payment voucher)
For cash receipts transactions are recorded using CRV (Cash receipt voucher)
For bank payments transactions are recorded using BPV (Bank payment voucher)
For bank receipts transaction are recorded using BRV ( Bank receipt vouvher)

In case if in any transaction any of above nature of transaction is not involved such transactions are recorded through JV (journal voucher) e.g

Depreciation Exp to Acc. Depreciation