FAR 12

Voucher System

A formalized system of internal control over disbursement.

Voucher Systems

Composed of records, methods, and procedures used to verify and record liabilities, as well as pay and record payments.

Voucher Register

A special journal where vouchers are recorded, similar to a purchase journal.

Check Register

A special journal containing chronological and serial records of all checks issued, serving as a modified cash payment journal.

Voucher

A document that serves as evidence of authority to pay cash and is used to record data pertaining to a liability and the purpose of its payment.

Check

A written instrument signed by the depositor, ordering the bank to pay a specific sum of money to a specified person or entity.

Drawer

The person who signs the check.

Drawee

The bank on which the check is drawn.

Payee

The person or entity whose order the check is drawn for.