Uses of Store Issue Voucher and Its Workflow Stages

Understanding resource flow and inventory management is one of the most important factors in efficiently managing the accounting system for business operations. In this regard, the store's issue voucher is considered an integral part of the warehouse management process.

A store issue voucher contains the controls and procedures that ensure the effective distribution and documentation of resources. So, how can a goods issue voucher from the warehouse contribute to ensuring smooth and efficient business operations?

This is what we will explore in the lines of this article by providing a detailed explanation of the importance and uses of the store issue voucher, its contents, and the practical application of its workflow stages.

Summary of Key Points

• A store issue voucher is an official document that records goods and materials issued from warehouses to customers or internal stores, with the aim of maintaining accurate accounting records for precise financial reporting.
• The importance and uses of the store issue voucher lie in organizing warehouse management operations, tracking inventory movement, ensuring internal control and accountability, and managing inventory and its records.
• The workflow stages of the issue voucher vary depending on the entity to which the goods will be supplied or issued, whether directly to customers or to sub-stores within the organization.

What is a Store Issue Voucher?

A store issue voucher refers to documents that process requests issued from warehouses for various purposes, such as sales to customers, store issue vouchers for raw materials related to production orders, or inventory issue vouchers for equipment and office supplies for employees.

A store issue voucher is a form specifically designed to document outgoing goods and maintain the accuracy of accounting records.

What are the Contents of a Store Issue Voucher?

To ensure that a store issue voucher is prepared correctly, it must include a set of essential elements. Below, we answer the question: How can I create a store issue voucher?

Here are the components of a store issue voucher book:

• Issue the officer’s name, phone number, and email address.
• Warehouse number and its location within the facility.
• Date and time of issue.
• Issue voucher number.
• Description of the goods, their quantity, and unit of measurement.
• Name of the recipient and the entity or organization they belong to.
• Recipient’s phone number and email address.
• Purpose of issuing the voucher.
• Declaration of the person responsible for the issue (I, the undersigned, acknowledge approval of issuing the aforementioned goods/materials from the warehouse).
• Signature of the requester or the issue officer.

You can rely on a ready-to-use store issue voucher template from Daftra for immediate use.

You can also download a free, ready-made warehouse item card template in all suitable formats for editing and use.

What Are the Workflow Stages of a Store Issue Voucher?

 The workflow stages of a store issue voucher vary depending on the entity to which the inventory is issued, as follows:

1- Workflow Stages of Issuing a Store Issue Voucher to a Customer

• Issuing the voucher: The issue voucher is issued from the warehouses based on an approved and documented request from the sales department. This request specifies the type of goods and the quantities required according to the customer’s needs.
• Recording the issue transaction: The issue transaction is recorded with the request number, date, and recipient’s name, in order to document the outgoing goods in the inventory records.
• Sending the voucher to the concerned department: The goods issue voucher is sent to the finance department for signature and approval. A copy is sent to the customer as proof of goods delivery, and another copy is retained in the warehouse records for documentation, auditing, review, internal control and accountability, and tracking inventory levels.

2- Workflow Stages of Issuing a Store Issue Voucher to Sub-Stores Within the Same Organization

•  Preparing the transfer voucher: The transfer voucher for issuing goods or resources from the main warehouse to internal or sub-stores within the company must include the following information: (sub-store number or department, its location, transfer date, and the items and quantities of goods transferred).
• Documenting the transfer and issuing the required inventory: The name of the receiving sub-store is recorded through acknowledgment by the responsible parties, such as the storekeeper or others, confirming receipt, in order to track the movement of goods within the company.

What Is the Importance and Uses of a Store Issue Voucher?

 Below are the reasons that explain the importance of the store issue voucher and its main uses:

1- Organizing Warehouse Management Operations

 Warehouse management (or logistics departments responsible for transporting, shipping, and distributing goods and materials) can, through the store issue voucher, determine the details of inventory issue and release requests, specify the purpose of these requests, and ensure that the required items are issued in the correct quantities.

2- Tracking Inventory Movement

 The store issue voucher is used to track the movement of goods, thereby reducing any accounting errors resulting from recording outgoing inventory transactions of products and materials in the accounting books used to prepare financial reports.

In addition, it helps accurately monitor inventory levels and determine the reorder point to replenish inventory levels based on the quantities issued and remaining, which helps avoid inventory levels dropping below the maximum required to meet customer needs.

You can rely on the inventory movement template from Daftra, ready for editing and use, to avoid any accounting errors.

3- Internal Control and Accountability

 The primary objective of the store issue voucher is to document and monitor inventory issuance operations from warehouses. Here lies its importance in enhancing internal accountability and control within the organization, as the store issue voucher provides complete information about the parties involved in the issuance process, represented by the entities responsible for issuing and the entities receiving the goods.

Thus, it enables tracking of individuals and departments involved in issuance operations. It also ensures that the issuance process was carried out based on specified needs. Store issue vouchers are also used in internal auditing and comparison with actual transactions conducted to detect discrepancies or violations, and then take legal actions and measures if necessary.

4- Controlling Inventory and Its Records

 The store issue voucher is used to maintain accurate inventory records that show the path and details of all issued goods and products, which helps control inventory and prevent unauthorized issuance to individuals who are not authorized to receive goods and materials from the warehouses.

What Is the Difference Between a Payment Voucher and a Store Issue Voucher?

 The main difference between a payment voucher and a store issue voucher lies in the purpose of each.

The function of a payment voucher is to document payments made by the company to suppliers in exchange for obtaining goods or resources, whereas the function of a store issue voucher is to document the goods that are issued and delivered to customers.

A store issue voucher results in the issuance of a receipt voucher that documents the customer’s receipt of the goods agreed upon in the issue voucher.

Read also:

What is an item card and the difference between it and an inventory card?

What is a receipt voucher, its contents, and how it works

How Does Daftra Help You Create a Store Issue Voucher?

 Daftra’s inventory and warehouse management software makes it easy and smooth to create a store issue voucher through its integrated system interface, which helps you manage business operations and track inventory accurately. You can learn the detailed steps for creating a store issue voucher from here.

In conclusion, it can be said that a store issue voucher is not merely a document that is issued and signed, but rather an essential and fundamental component for effectively managing the inventory system.

Consequently, it helps companies achieve the required balance between meeting customer needs and ensuring sufficient inventory levels to manage production and sales operations and ultimately achieve business objectives.

Finally, if you are a business owner or warehouse manager, always make sure to follow the workflow stages of a store issue voucher with its previously mentioned and clarified required contents.