Voucher hard copies
Govindarajan
(Querist) 14 March 2013
This query is : Resolved
Is it mandatory to print to keep a voucher in Accounts Department .If so under which Act or whether maintainging the same in Soft Form is O.K Please advice
CA Ayush Agrawal
(Expert) 14 March 2013
Since Must be Signed by Authorized Person, Its Become Compulsory to Take Print and Signed with.
But After Introduction of IT Act, You Can keep in E Format Also.
Guest
(Expert) 14 March 2013
Can you make sure that soft copies cannot be manipulated or destroyed before or after the statutory audit of accounts of your company?
If yes, unless the AGM of your company passes a resolution on paperless working and accounts keeping in consultancy with your auditors after going through pros & cons of the proposal, you must have to keep the vouchers in original for the examination/ inspection at any time by the stake holders, shareholders, financiers and the audit of the company.
I hope, as a Finance Manager of the company you can understand this aspect very well.
Raj Kumar Makkad
(Expert) 14 March 2013
Nothing to add more as all aspects of the query have wisely been addressed by Ld. Dhingra G.
Govindarajan
(Querist) 15 March 2013
Thanks for the experts for spending their precious time . But My question is whether is it required by any law to keep the printout or it is only as best practice to keep the vouchers alongwith supportings .That part of my query is still unanswered .
CA Ayush Agrawal
(Expert) 15 March 2013
Dear Author,
You Can Keep Records in Electronic Form Also
Since Your Question is Silent regarding Status of your Organisation:-
If I Assume it as Non Corporate Then:
Document has been u/s 2(22AA) as including an electronic record as defined in clause (t) of sub section (1) of section 2 of the Information Technology Act, 2000.
If I Assume It as Corporate Then:--
as Suggested by Expert Dhingraji, Go Ahead.
Guest
(Expert) 15 March 2013
Dear Govindarajan,
If you ask merely an academic query without discussing the real problem, you would receive only replies of general nature. Why don't you state, what is the real problem to get specific solution to specific problem?
However, you should know that unless any law specifically forbids any document to be kept in physical form, you will have to keep that document in physical form. Laws are not made for every bits of each fields of business and commerce.
As a Finance Manager, I hope you would like to go through Indian Accounting Standards as well as International Accounting Procedures, besides the Company Law, to guide you better.
Anirudh
(Expert) 15 March 2013
Can you please say what is a "voucher"?
Govindarajan
(Querist) 15 March 2013
Dear Experts , Sorry if have not explained properly . The real problem is we are buying one SAP like ERP for our company . By default the ERP is not supporting the voucher print out . When I insist for voucher printing option both my management and the vendor raised this question . Is it necessary to keep a print out of vouchers? , if so under which law ? Hope this is clear . Once again I regret for the inconvenience caused .
Guest
(Expert) 15 March 2013
What are the key performance indicators to be taken care of by the ERP, as may be required for meeting corporate objectives of your company?
Also please indicate what type of vouchers your company has to keep on record and for what purposes?
Sudhir Kumar, Advocate
(Expert) 17 March 2013
basically academic query. Yet replied by experts above successfully.
