Vouching and Routine Checking are two methods used to ensure the accuracy of financial records. Today we will learn about the difference between Vouching and Routine Checking.
The main difference is that vouching is a method of verifying specific transactions while routine checking is a method of regularly checking the accuracy of financial records.
Before we move to the differences, let’s understand what are Vouching and Routine Checking:
- Vouching: Vouching is a method of checking the accuracy of financial transactions and ensuring that they are supported by proper documentation.
- Routine Checking: Routine Checking is when you quickly look at something to make sure it’s not obviously wrong.
Now, let’s move to Vouching vs Routine Checking:
Major differences between Vouching and Routine Checking
|Vouching is more time-consuming.||Routine Checking is faster.|
|Vouching checks every single detail.||Routine Checking only checks for obvious mistakes.|
|Vouching is used for important things.||Routine Checking is used for everyday things.|
|Vouching is done by experts.||Routine Checking can be done by anyone.|
|Vouching is more costly.||Routine Checking is less expensive.|
Note that sometimes, the question might also be asked as “distinguish between Vouching and Routine Checking”.
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Vouching and Routine Checking are both important ways to check if something is correct, but they are used for different things and in different ways.
Vouching is more detailed and specific, while Routine Checking is more general and quick. It’s important to know when to use each method to make sure that everything is correct.
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