What is a voucher and what is a bill? What is the difference between the two?

Voucher, also known as accounting voucher, refers to a legally binding written certificate that can be used to prove the occurrence of economic business events, clarify economic responsibilities and register account books accordingly. It can be divided into two categories: original vouchers and accounting vouchers. The so-called original voucher, also called document, is a kind of voucher that is filled in when the economic business event occurs or is completed, which is used to prove that the economic business event has occurred or been completed, to clarify the economic responsibility and to serve as the original basis for bookkeeping. It is an important material for accounting. The so-called proof of charge to an account refers to the accounting certificate that accountants classify according to the content and nature of economic and business matters according to the original documents and relevant materials that have been verified without error, and determine accounting entries as the basis for registering accounting books. In the whole accounting process, accounting vouchers are the first pass. If the vouchers used are false or illegal, then the whole accounting cannot be true.

Bill

1. A certificate made in a certain form and indicating the obligation to pay a certain amount of money.

2. the cashier's or the voucher for transporting the goods.

bill in a broad sense: it refers to all kinds of securities, such as bonds, stocks, bills of lading and so on.

in a narrow sense, negotiable instruments only refer to the negotiable securities for the purpose of paying money, that is, the negotiable securities issued by the drawer according to the negotiable instruments law and unconditionally paid by himself or entrusted by others to the payee or holder. In China, bills are bills of exchange, checks and promissory notes.

I. Concept and types of negotiable instruments

Generally, negotiable instruments refer to negotiable securities that are issued by the drawer in business, unconditionally agree to pay a certain amount by themselves or ask others, and the holders have certain rights. Bills include: bills of exchange, promissory notes, checks, bills of lading, certificates of deposit, stocks, bonds and so on.

2. Characteristics of negotiable instruments

1. A negotiable instrument is a document with certain powers: the right of payment and the right of recourse

2. There is no reason for the rights and obligations of negotiable instruments. As long as the holder gets the negotiable instrument, he has obtained all the powers conferred by it.

3. The negotiable instrument laws of all countries require that the form and content of negotiable instruments be standardized.

4. Bills are negotiable securities. Except the limitation of the bill itself, the bill can be transferred by endorsement and delivery.

iii. related parties

the related parties of a bill include: DRAWER, DRAWEE, PAYEE, ACCEPTOR, ACCEPTOR FOR HONOUR, ENDORSER, HOLDER and BONA FIDE HOLDER.

4. Several major bills

1. Bill of Exchange

2. Promissory Notes

3. Cheque

4. Traveler's Cheque

Bill's claim

1.

2. The holder has the right to claim payment from the acceptor.

iii. the participant drawee has all rights over the acceptor of the bill, the participant drawee and their prior parties to obtain the holder.

iv. the holder has the right to claim payment from the guarantor.

the right of recourse for negotiable instruments

1. The holder and endorser have the right of recourse against the prior party.

2. the guarantor who has paid the money has the right of recourse against the guarantor and his prior parties.

drawer

a drawer is a person who issues a bill and delivers it to others. The drawer is the principal debtor of the bill. When the holder or payee presents the bill for payment or acceptance, the drawer shall pay or accept it immediately.

drawee

the drawee refers to the person who pays the face value to the holder or payee. The drawee is not necessarily the drawer, but only the debtor of the drawer.

Payee

Payee refers to the person who receives the ticket. The payee has the right to demand payment or acceptance from the drawer or drawee.

acceptor

when a bill is a forward bill, the payee or holder asks the drawee to agree to the payment due, and the drawee is the acceptor.

Endorser

Endorser refers to a person who endorses a bill and transfers it to another person, usually by signing or stamping the back of the bill. The person who has accepted the endorsed bill is called the Endorsee, and the bill can be endorsed and transferred many times.

holder

A holder is a person who holds a bill. Only the holder has the right to demand payment or acceptance.

guarantor

a person who guarantees the payment of a bill in his own name. A guarantor may provide a guarantee for the drawer, endorser, acceptor or participant acceptor.

BILL OF EXCHANGE

I. Definition

A bill of exchange is an unconditional and written payment order issued by one person (the drawer) to another person, requiring the payer to pay a certain amount to someone or their designee or holder immediately or regularly or at a certain future time.

ii. the function of the bill of exchange

when the exporter settles the payment by means of reverse exchange (collection, letter of credit), it is necessary to issue a written certificate as the basis for claiming money from the importer. A bill of exchange is a document drawn by the drawer (exporter) to the payer (importer), asking the payer to pay unconditionally immediately or within a certain period of time.

III. Necessary items

Whether a bill of exchange will take effect after it is obtained, according to the provisions of the Geneva Uniform Law, this bill of exchange requires the following necessary items:

1. Indicate that it is a bill of exchange;

2. indicate the name or trade name of the payer;

3. Signature of the drawer;

4. Date and place of issue;

5. place of payment;

6. Payment term;

7. amount;

8. Name of payee, etc.

IV. Types

1. According to the drawer: Banker's draft and Trade Bill.

2. depending on the acceptor: Commercial Acceptance Bill and Bank's Acceptance Bill.

3. depending on the payment time: Sight Bill or Demand draft and Time Bill or Usance Bill.

4. according to whether there are attached documents: Clean Bill and Documentary Bill.

PROMISSORY NOTES

I. Definition

Promissory notes are unconditional written promises issued by one person to another person to guarantee to pay a certain amount to someone or their designee or bearer at sight or on a regular basis or at a certain future time.

II. Necessary items

Whether a promissory note will come into effect after being obtained, according to the provisions of the Geneva Uniform Law, this promissory note requires the following necessary items:

1. Mark it as "promissory note";

2. Unconditional payment commitment;

3. Signature of the drawer;

4. Date and place of issue;

5. place of payment;

6. The term of payment, if not clearly written, can be regarded as payment at sight;

7. amount;

8. Payee or its designee.

III. Types

1. PROMISSORY NOTE: The drawer is an enterprise or an individual, and the bill can be a sight note or a long-term note.

2. cashier's order: the drawer is a bank, and it can only be a sight cashier's order.

CHEQUE

I. Definition

Cheque is a written order issued by a customer who deposits in a bank to the bank, authorizing the bank to pay a certain amount of unconditional payment to someone or their designee or holder.

II. Necessary items

According to the provisions of the Geneva Uniform Law, whether this draft will take effect after a cheque is obtained, this draft requires the following necessary items:

1.

2. Payee or its designee;

3. Name of the paying bank;

4. Date and place of issue;

5. place of payment;

6. indicate the spot;

7. amount;

8. Name of payee;

9. unconditional payment order.

4. Types

1. CHEQUE PAYABLE TO ORDER: indicate the payee on the cheque, and only the payee can collect the money.

2. CHEQUE PAYABLE TO BEARER: the payee is not specified.

3. CROSSED CHEQUE: it mainly entrusts the bank to collect money.

4. CERTIFIED CHEQUE: it is issued to the drawer and the payment is paid by the bank to ensure that the cheque can receive the money.

5. BANKER'S CHEQUE: a cheque issued by a bank and paid by the bank.

TRAVELER'S CHEQUE

I. Definition

Traveler's Cheque is a kind of check issued by some big banks and travel agencies for travelers, and the amount of the check is fixed.

II. Necessary items

According to the provisions of the Geneva Uniform Law, this draft requires the following necessary items:

1. Indicate that it is "traveler's check";

2. Name of drawer;

3. Initial signing by the PURCHASER;

4. countersigning by the payer;

5. Fixed amount;

6. Named head.